Annual Reports, Impact Reports, and Publications
|
2025 Annual Report
In 2025, we advanced key development, housing, and investment priorities across the region. Major accomplishments included hosting the successful Pitch.Connect.Fund. Development Forum and completing Shimer Square’s 51 new historic adaptive‑reuse apartments, resource center, and child development center in Mt. Carroll, Illinois. Through Employer Assisted Homebuyer Program, Live-Work RI, we assisted 25 homebuyers, plus an additional 53 homebuyers through other programs, bringing the total to 78 homebuyers supported in purchasing homes in Rock Island and the Illinois Quad Cities region. We also provided homebuyer education and counseling to 243 clients, offering financial literacy, foreclosure prevention, personal growth, and post‑purchase guidance. We achieved a record $71.9 million in deployed New Markets Tax Credit allocations and secured a $75 million year‑end award for Central States Development Partners, deploying allocation that strengthened manufacturing, healthcare, and community facilities in distressed communities. Progress across our development pipeline continued with the approval of Northside Lofts in Aledo, Illinois, while Home Base Property Management welcomed new businesses and maintained strong occupancy across all properties in all communities, notably properties in Rock Island, IL, which celebrated the completion of the downtown revitalization after two-years of construction. 2024 Annual Report
GROWTH's Annual Report highlights our team raising over $100 million to drive economic growth, housing opportunity, and job creations nationwide. In 2024 GROWTH made substantial progress in transforming the redevelopment of the former Shimer College campus in rural Mount Carroll, Illinois. We also continue our efforts to support homeownership and financial literacy as a HUD- approved housing counseling agency. 2023 Annual Report
GROWTH's 2023 Annual Report showcases its multifaceted efforts to revitalize underserved communities. Highlights include affordable housing initiatives, efforts by Home Base Property Management, LLC, and general contracting projects overseen by Growth General Contracting, LLC. Additionally, efforts in single-family home improvements for vulnerable populations, emergency housing counseling, and financial literacy programs are emphasized. The report also underscores GROWTH's role in job creation, homebuyer education, and providing financing support and job creation through New Market Tax Credits transactions closed through Central States Development Partners, Inc. |
|
Who We Are, What We Do
Economic Growth Corporation (GROWTH) is a community-based development organization committed to the revitalization of underserved communities throughout the nation. As a 501(c)3 non-profit, GROWTH is a mission-driven organization with over 40 years experience in community and economic development working to enhance the overall image and economic vitality of communities in need of jobs, investment and housing. |
|
Impact Report for Central States Development Partners
Central States Development Partners, Inc. is a national, wholly owned subsidiary of Economic Growth Corporation, and serves as a Community Development Entity to access and deploy New Market Tax Credits. Central States Development Partners, Inc. is a six time, back-to-back Federal Allocatee of $220 Million in New Market Tax Credits, a two-time state allocatee of New Market Tax Credits through the State of Illinois, and a recent state allocatee of New Market Tax Credits through the State of Nevada. |
|
Development Tour Guide
Discover all of GROWTH's multifamily developments and major development grant initiatives as of November 2023. |
|
Community Housing Development Organization (CHDO) Tour Guide
As a certified Community Housing Development Organization (CHDO), GROWTH has completed many single family developments. This document demonstrates GROWTH's community-based efforts as it works to grow affordable, single family development within areas in the community that need it most. 2022 Annual Report
2022 marks the 40th Anniversary of Economic Growth Corporation, and since our founding on September 23, 1982, GROWTH has successfully built a strong track record over the past 40 years changing communities. To date, GROWTH and its subsidiaries have deployed more than $500 million into underserved communities supporting 13,800 jobs. GROWTH's work continues to expand reaching 14 states and growing. 2021 Annual Report
GROWTH accomplished much despite the ever changing challenges that the past two years have brought. Staff rose to the unprecedented challenges of this past year, demonstrating resilience, dedication, and unwavering commitment to GROWTH's mission that that lead to positive changes that strengthened the communities in which we serve. 2020 Annual Report
While GROWTH's activity continues to grow on a national scale, our mission remains the same: to serve the most vulnerable of populations and to grow the most underserved, highly distressed areas of communities. GROWTH continues to work to create opportunities that otherwise would not be available that ultimately helps build and empower people and communities to be in a better place than before. 2019 Annual Report
Click here to discover all of GROWTH and its subsidiaries activities for 2019 by reading its 24-page Annual Report. 2018 Annual Report
Click here to discover all of GROWTH and its subsidiaries activities for 2018 by reading its 24-page Annual Report. |
