Pocatello-based economic development agency rebranding to better tap region’s ‘beautiful potential’
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POCATELLO – A local economic development agency based out of the Gate City is changing its name to better represent its regional focus.
Bannock Development Corporation, an independently run agency that helps facilitate local economic growth, has officially changed its name to Portneuf Valley Development Corporation, and will change its website, signage and other materials over the coming weeks. The way its CEO sees it, this name will better reflect the goals of the economic development agency.
“Our stakeholders want us to be noticed as Portneuf Valley. They want us to sell the whole area,” said MiaCate Kennedy I, CEO of Portneuf Valley Development Corporation (PVDC). “And we want you to understand now what we do and be excited about it.”
PVDC operated as Bannock Development Corporation for 37 years before this rebranding. As an economic development organization, it fosters economic growth for the region by attracting and keeping businesses.
After the agency recruits a business to become a client, it advocates and negotiates for that business to make opening a location in the area go more smoothly.
“We stick with (the business) and put them through the whole gamut. You help get permits, help get them negotiations, we negotiate on property, all of that. We are their contact so they can just have a seamless (opening) here,” Kennedy said.
But Kennedy added that, “80% of our job is to keep the businesses we have.”
“We visit with (our clients) and find out what their pain points are, and how can we reach out to our resources and help them stay here? Because if we have businesses leaving, that’s bad for us,” Kennedy said.
The agency decided to rebrand not only to emphasize its broader regional focus on southeastern Idaho, Kennedy said, but also to make it clear to people that it’s run independently from the county government.
“Nobody knows where Bannock is, but if they do, they think we’re the county,” Kennedy said.
Kennedy further clarified that while PVDC receives some funding from the local county and city governments, it’s primarily funded by private investors and clients, and it uses that budget to recruit and keep clients in the area.
The agency doesn’t just take up any potential client that could come to the region. The way Kennedy sees it, people who live in the area, especially young people, will inherit the economic development she helps bring to the region.
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“Anything I do you all are going to inherit, and that is important to me. It’s important to me to stick up for you,” Kennedy said.
One example Kennedy pointed to is the property where they’ve announced the CREST project. Before that, the agency had been approached by data centers wanting to build there.
“If we were to put a data center in there, that’s all we could have ever, so you’d inherit that for 40 years, or until they go under,” Kennedy said.
Kennedy said she believes rebranding the agency will help it continue its mission to bring good economic development to the region, making it an even better place to live.
“I love it here, and I see the beautiful potential,” Kennedy said.