Grundy Resiliency Project’s economic overview to help build more diverse economy

The Grundy Resiliency Project has completed an economic overview that will now be used as a tool to construct a roadmap to build a more diverse economy for Grundy County.

The economic overview was completed by the University of Michigan Economic Growth Institute in September.

The organizations behind the Grundy Resiliency Project, the Grundy Economic Development Council and the Grundy County Chamber of Commerce & Industry, invite the public to hear the details of this overview at a virtual presentation at 8:30 a.m. on Wednesday, Nov. 29. To register for this virtual meeting, visit resilientgrundy.com.

“The data in this Economic Overview Report will serve as a strong foundation upon which a strategic plan for diversifying Grundy’s economy will be built. It validates much of what we already know about how fortunate we are, but the data also reveals some trends which will be important to keep in mind as we work to maintain a good quality of life for Grundy residents long into the future,” GEDC President & CEO Nancy Norton said.

This economic study is part of the resiliency project by the GEDC and the Grundy Chamber. The organizations were given a $600,000 grant from the U.S. Economic Development Administration at the end of last year. These grants help nuclear host communities plan for and build more diverse, resilient economies. Grundy’s grant is being matched 20% by Grundy County, and North Central Council of Governments is assisting as the grant administrator.

The grant focuses on regions with nuclear plants and provides funding to local entities to evaluate economic impacts, competitive diversification, decommissioning issues and building community capacity.

The research team studied and evaluated local and national indicators and gave detailed findings on the area’s prosperity rankings, top industries, wages of current and new jobs, occupations, commuting patterns, inequality, education, benefits received, broadband access, housing affordability, the rental market, rental affordability and an economic contribution analysis.

The Comprehensive Economic Overview is available now on the Grundy Resiliency Project website, resilientgrundy.com. The GEDC and Chamber also will present the overview to local municipal boards and councils.

The scope of the project is over 24 months and includes future steps of doing a broadband analysis, researching the decommissioning process of nuclear plants and developing a roadmap of opportunities for Grundy.