3-12-2004
More local firms stepping up to support KREDC
Pacific Northwest Title and Clearwater Casino latest
to support economic development efforts
   The message that if economic development is going to come to Kitsap County it’s up to the local business community to make it happen, has begun to resonate.
   Two more local firms and one trade association have stepped up with substantial financial commitments to the Kitsap Regional Economic Development Council (KREDC). Within the past 30 days, Pacific Northwest Title of Silverdale and the Suquamish Clearwater Casino have both opened their checkbooks to support the KREDC.
   Pacific Northwest Title has committed $20,000 and the casino $12,000, to be paid over the next three years.
   The Kitsap County Homebuilders Association, which has supported the organization on a year to year basis, has also agreed to a three year commitment and increased the amount it has pledged in the past by an additional $5,000, for a total three-year commitment of $20,000.
   Kitsap County has also jumped on the bandwagon, committing an additional $50,000 in challenge grant money. It will match every dollar raised annually in the private sector, up to $50,000. County Commissioner Chris Endresen has also challenged the cities to step up and do the same.
   Shortly after new KREDC Executive Director David Porter came on board, he established a marketing outreach fund for the organization. This is money that will only be used for marketing efforts — not operations. Porter himself was the first contributor to the fund, kicking in $1,000 of his own money to get it going. “How can I ask individuals and local businesses to support our efforts if I’m not willing to put my own money into this?” he asked. Since then, several board members have also contributed to the fund for the same reason.
   Porter also established the idea of investor-members signing on for three years at a time. This allows Porter to devote his time to doing the actual nuts and bolts work of economic development, and not spend it on annual fundraising efforts.
   Kitsap Bank was the first to recognize the new direction Porter was taking the KREDC and started the ball rolling with an initial three-year commitment of $50,000 — the highest level in the structure of the marketing fund. The bank was joined shortly after by Paladin Data Systems with $15,000, and then the county.
   “I’m please by the initial response to the new fund raising program, and particularly gratified by the entrepreneurial spirit of the county commissioners with their challenge grant,” said an obviously pleased Porter.
   “As people become acquainted with our plans — and prospects — I’m confident that other investor-members will also step up in the months ahead.”
   For more information on the KREDC, call (360) 377-9499 or
visit: www.kitsapedc.org.