who we are, what we do
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GROWTH is regarded as a local and national leader in developing innovative and attainable housing opportunities, securing a positive reputation for its ability to convene and facilitate work among diverse community partners. GROWTH has raised and deployed millions of dollars within underserved communities.
“The most outstanding rural non-profit organization in the country that best promotes fair and equal access to credit and capital and/or contributes the most in its community toward promoting wealth building in traditionally underserved populations.”-- Economic Growth Corporation, 2016 Recipient of 2016 James R. Leach Award, National Community Reinvestment Coalition |
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Before GROWTH's first multifamily redevelopment began in 2001 After GROWTH's first redevelopment was completed in 2002
GROWTH MILESTONES
Conflict of Interest Statement:
Economic Growth Corporation and its affiliates (collectively, GROWTH) require staff and members of the Board of Directors to comply with all applicable federal, state and local laws, rules and regulations pertaining to GROWTH’s activities, to conduct themselves ethically and with integrity; and to avoid any conflict between their own interests and the interests of GROWTH.
- One of Freddie Mac’s most successful alliance communities. More than $60 million of special mortgage products have been implemented in the region by GROWTH.
- Impacted over 1,300 single family housing units to date
- Counseled over 2,500 homebuyers through its HUD-approved, Freddie-Mac certified housing education class
- Provided over $16 Million in assistance to homebuyers since 1998
- Successfully administered more than $21.6 Million Neighborhood Stabilization Program 1 & 2 (NSP1 & NSP 2) dollars in the communities of Rock Island, Moline, and Sterling, IL. That amount was leveraged with an additional $22.8 Million in local, state, private, and other grant sources- for a total investment of $44 Million in neighborhood stabilization efforts throughout northwestern Illinois.
- Successfully administered $3.5 Million in Illinois Attorney General National Foreclosure Settlement Funds in northwestern Illinois. That amount was leveraged with an additional $17.7 Million in public and private resources advancing efforts that included new rental construction, new single family homeownership, homebuyer and financial education, and demolition activities.
- Welcomed over 800 homebuyers to date.
- Created an innovative Employer Assisted Housing Program serving as a national model for live-work housing. To date, GROWTH's program has provided more than $1.9 million in direct financial assistance to over 400 employees since 2003, with more than 49% of the employees relocating to its headquartered community of Rock Island, IL from outside communities.
- One of 52 organizations nationally to receive funding from Wells Fargo Foundation’s Leading the Way Home Program Priority Markets Initiative.” Awarded two consecutive rounds totaling $175,000 towards redevelopment efforts in Rock Island’s oldest neighborhood.
Conflict of Interest Statement:
Economic Growth Corporation and its affiliates (collectively, GROWTH) require staff and members of the Board of Directors to comply with all applicable federal, state and local laws, rules and regulations pertaining to GROWTH’s activities, to conduct themselves ethically and with integrity; and to avoid any conflict between their own interests and the interests of GROWTH.
