Mission
|
Economic Growth Corporation (GROWTH) is a 501(c)3 non‑profit community development organization with a national service area working to enhance the overall image and economic vitality of distressed and underserved communities by improving the housing market dynamics in such communities, especially in older blighted neighborhoods; developing new housing opportunities; generating new and additional tax revenues; promoting, encouraging, and assisting the growth and development of existing commercial, industrial, and small businesses; attracting new businesses; providing housing counseling and foreclosure prevention counseling; encouraging homeownership for those not qualifying for conventional residential mortgage programs; and creating employment opportunities.
ImpactGROWTH continues to advance its mission where it began while expanding its reach to communities across the region and the nation. What started as a local effort in the 1980s has grown into a nationally recognized leader in community and economic development.
At GROWTH’s 40th Anniversary celebration in 2022, former Rock Island Mayor Mark Schwiebert spoke on GROWTH’s origin tracing back to a catalytic moment in Detroit during a National League of Cities convention, where Rock Island leaders were inspired by the Detroit Economic Growth Corporation, envisioning the creation of an “Economic Growth Corporation” for Rock Island. That idea, described by Schwiebert as “the acorn that grew into a magnificent oak,” became the foundation for more than four decades of impact. GROWTH was incorporated in September 1982 as a small, community‑based nonprofit with a detailed but nimble mission designed to touch every aspect of a community, all designed to increase the tax base, revitalize older neighborhoods, strengthen economic vitality, increase homeownership opportunities, and expand community and economic development opportunities in Rock Island. Over the past four decades, that mission remains unchanged, only larger in context. GROWTH continues its commitment to increasing the tax base while growing into a nonprofit with a national service area serving 15+ states and communities within them. This multifaceted mission is accomplished through historic adaptive‑reuse multifamily and mixed‑use development, new construction, infill housing, employer‑assisted housing development. GROWTH also provides HUD‑approved housing counseling, homebuyer education, homebuyer purchase programs, and financial literacy services to increase homeownership; property management through Home Base Property Management, LLC; general contracting through Growth General Contracting, LLC; and financing supported by federal and state New Markets Tax Credits (NMTC) through Central States Development Partners, Inc. to support manufacturing, healthcare, community facilities within deeply and severely distressed communities. Regional and National Expansion
Today, GROWTH’s impact continues in Rock Island and extends far beyond it. In 2010, through strategic partnerships with Illinois cities and organizations that formed the Northwest Housing Coalition, which included Rock Island, Moline, Sterling, East Moline, Fulton, Morrison, Project NOW, and Arc of the Quad Cities, GROWTH expanded its service area by delivering transformative single-family rehabs, down‑payment assistance, and targeted foreclosure recovery efforts using Neighborhood Stabilization Program 1, Neighborhood Stabilization 2, and Illinois Attorney General National Foreclosure Settlement Funds that amounted to $67 million invested that supported 458 jobs, 349 housing units, and supported 392 homebuyers across all these communities.
Since that time, GROWTH has continued expanding its partnerships and reach, working in Springfield, Galena, Clinton (Iowa), Mt. Carroll, and Aledo, Illinois, further strengthening its impact. Advancing Economic Opportunity
To expand its mission-driven investment capacity, GROWTH established Central States Development Partners, Inc. in 2009, a certified Community Development Entity with a national presence. Through state and federal NMTC allocations, Central States directs resources into industrial job‑creating manufacturing, healthcare, and community facilities in severely distressed communities, helping catalyze development, create quality jobs, and interrupt cycles of poverty.
Meeting Communities Where They Are
As a community‑based nonprofit, GROWTH supports communities by invitation, helping local leaders address their unique needs through:
Maintaining Roots and Growing Nationally
GROWTH remains deeply committed to the communities it serves and develops alongside. In March 2026, GROWTH relocated its main office to Milan, Illinois, its first independent location since 1982. While the address has changed, the mission has not. GROWTH continues to maintain its strong local presence and longstanding commitment to all the communities it serves, while expanding its national reach and strengthening its ability to fulfill its mission across disadvantaged communities nationwide.
Guided by dedicated Board members, advisors, and staff, GROWTH continues to evolve, lead, and deliver meaningful impact, locally, regionally, and nationally. Central States Development Partners, Inc.$321 Million- Financing closed for manufacturing, healthcare, community facilities in deeply and severely distressed communities $1.3 Billion- Total project costs in NMTC related financing 18,199 jobs supported in NMTC related financing 207,369 individuals provided critical services Development Activity$194.5 Total Development Costs Multifamily & Commercial Development Activity $7.7 Million Total Single Family Development 2,278 jobs supported in Development related activity Homebuyer Activity$15.8 Million Downpayment Assistance provided to homebuyers 894 Homebuyers assisted in home purchase 3,660 Homebuyers provided HUD-Approved Homebuyer Education 476 Live-Work RI Homebuyers $2.7 Million Live-Work RI Downpayment Assistance Provided $84.5 Million Real Estate Transactions Supported Single Family & Foreclosure Prevention$6.1 Million Single-Family Rehabilitation support deployed 193 Single-Family homes improved for low-to-moderate income households 1,914 total assisted with Foreclosure Prevention & Emergency Housing Assistance (tenants and homeowners) Growth General Contracting, LLC$2.2 Million construction of Star Block in Rock Island, IL $2 Million construction of 7-new construction homes known as the Garden District in Rock Island, IL Buildout of El Patron Mexican Bar & Restaurant in Rock Island, IL Buildout of Healthy Harvest Urban Farms, Rock Island, IL Buildout and reconfiguration of Clinton Culinary, Clinton Restaurant Incubator, Clinton, IA Rehabilitation and capital improvements at Jackson Square in Rock Island, IL $2 million new construction of Early Child Development Center in Mt. Carroll, IL $1 million oversight of historic rehabilitation of Rebuild Illinois grant at Shimer Square in Mt. Carroll, IL General oversight of historic, adaptive-reuse of 51 apartments at Shimer Square in Mt. Caroll, IL Home Base Property Management, LLCManagement of 304 residential rental units in Rock Island, Clinton, Springfield, Galena, Mt. Carroll, IL Management of 25 commercial spaces in Rock Island, Clinton, Springfield, Galena, Mt. Carroll, IL Maintenance oversight of 329 residential and commercial units total C Compliance and oversight of client files in accordance to state and federal laws Abides by all Fair Housing Laws with staff trained and certified Fair Housing Specialists Equal Housing Provider |
GROWTH started off as a small nonprofit working to rehab 1-3 homes per year in Rock Island's oldest neighborhoods.
Former Mayor Mark Schwiebert described GROWTH as "the acorn that grew into a magnificent oak" at GROWTH's 40th Anniversary in 2022.
Renaissance Lofts pre-redevelopment in 2000.
Renaissance Lofts post-redevelopment in 2003. Continues to maintain high occupancy levels due to unique floor plans.
GROWTH developed transit-oriented, new construction housing in the former underutlized parking lot in downtown Rock Island,
From former parking lot to 34-units of transit-oriented, live-work housing units, The Locks generated a brand new tax base to support the downtown Rock Island economy.
Ribbon cutting for Shimer Square in Mt. Carroll in 2025, GROWTH's largest redevelopment to date.
Groundbreaking for SAL Community Services new childcare center on 11th Street, Rock Island. Central States provided state and federal NMTC to the project, working with SAL since 2019.
Joint City Council meeting between Cities of Fulton, Morrison, and Sterling as part of the NW Illinois Housing Coalition in 2014.
To date, GROWTH has done work in 15 states and growing.
Ribbon cutting for McLaughlin Body Co. acquiring and expanding its plant in Rock Island, where Central States provided federal NMTC. Supporting 75 new jobs adding to its 175-employee workforce.
Central States provided federal NMTC to the TEP Interpretive Center, a mixed-use development of the former McDonogh 19 in New Orleans, LA, a pivotal school desegregation and major player in the Civil Rights movement.
Homebuyer Education Workshop attendees smile after completing the workshop to become homebuyers in January 2026.
New childcare center built by Growth General Contracting, LLC as part of the Shimer Square campus in Mt. Carroll, IL
Central States' activity helps GROWTH meet its overall mission to create jobs, support neighborhoods, and grow business opportunities in highly distressed, low income areas. Additional benefits for communities are being realized and charitable contributions are generated to deploy within low-income areas, creating jobs, providing critical resources, and new opportunity to those that live there.
Same mission, same delivery of service, new office location at 371 3rd St. W, Milan, IL 61264.
|
