Forward Janesville, Inc. Market Research Report

Background

Overview

Forward Janesville, Inc. is the Chamber of Commerce for the Janesville-Beloit Metropolitan Statistical Area (MSA), serving as a pivotal economic development leader and community advocate in Janesville and Rock County, Wisconsin. Established in 1969, the organization has been instrumental in fostering a thriving business environment for over five decades.

Mission and Vision

The mission of Forward Janesville is to lead private sector economic and community development efforts to ensure the continued health and prosperity of business and industry in Janesville and Rock County. The organization envisions a vibrant community where businesses and residents thrive together, supported by a robust network of resources and opportunities.

Primary Area of Focus

Forward Janesville focuses on:

Economic Development: Attracting and retaining businesses, supporting workforce development, and advocating for pro-growth initiatives.

Community Engagement: Organizing events, providing resources, and fostering connections among local businesses and residents.

Advocacy: Representing the interests of the business community in government relations and policy matters.

Industry Significance

As the primary business association in the region, Forward Janesville plays a crucial role in shaping the local economy, supporting over 600 member businesses, and enhancing the quality of life for residents through various programs and initiatives.

Key Strategic Focus

Core Objectives

Business Support: Providing resources, networking opportunities, and advocacy to help businesses grow and succeed.

Community Development: Enhancing the economic and social well-being of the Janesville and Rock County areas.

Workforce Development: Addressing local workforce needs through training programs and partnerships.

Specific Areas of Specialization

Economic Development Initiatives: Leading efforts to attract new industries and support existing businesses.

Event Management: Organizing networking events, workshops, and community gatherings.

Advocacy and Government Relations: Engaging with policymakers to represent business interests.

Key Technologies Utilized

While specific technologies are not detailed, Forward Janesville employs various tools to manage member services, event coordination, and communication, including:

Customer Relationship Management (CRM) Systems: To manage member information and interactions.

Event Management Software: For organizing and promoting events.

Digital Communication Platforms: To disseminate information and engage with the community.

Primary Markets or Conditions Targeted

Forward Janesville primarily targets:

Local Businesses: From startups to established enterprises seeking support and growth opportunities.

Community Organizations: Collaborating to enhance community development and engagement.

Government Entities: Partnering to advocate for policies that benefit the local economy.

Financials and Funding

Funding History

Forward Janesville operates as a 501(c)(6) nonprofit organization, primarily funded through:

Membership Dues: Contributions from member businesses.

Event Revenue: Proceeds from organizing events and programs.

Grants and Donations: Financial support from foundations and other nonprofits.

Total Funds Raised

In the fiscal year ending February 2024, Forward Janesville reported total revenues of $741,679, with total expenses of $738,385.

Notable Investors

As a nonprofit, Forward Janesville does not have traditional investors but receives support from:

Forward Foundation: Provided a grant of $86,200 for general operating support.

Intended Utilization of Capital

The funds are utilized for:

Program Services: Supporting economic development initiatives, member services, and community engagement activities.

Operational Expenses: Covering administrative costs, staff salaries, and facility maintenance.

Pipeline Development

As a Chamber of Commerce, Forward Janesville does not have a product pipeline but focuses on:

Business Development: Assisting members in expanding their operations and entering new markets.

Community Projects: Initiating and supporting projects that enhance the local economy and quality of life.

Technological Platform and Innovation

Proprietary Technologies

Specific proprietary technologies are not detailed; however, the organization utilizes various digital tools to enhance its operations.

Significant Scientific Methods

While not explicitly stated, Forward Janesville employs data-driven approaches to assess community needs and measure the impact of its initiatives.

Leadership Team

Executive Profiles

Shar Hermanson, President and CEO: Assumed leadership on June 10, 2024. Previously served as executive vice president of Mid-West Family Madison, managing eight radio stations and a digital marketing agency.

Megan Matuszeski, Director of Events & Member Services: Brings 20 years of experience in corporate wellness and benefits, with a background in program management and community relations.

Eric Schmoldt, Director of Business Development & Marketing: Experienced in journalism, communications, and digital marketing, focusing on building relationships and supporting member businesses.

Claire Gray, Director of Policy & Strategic Initiatives: Background in sourcing, category management, and non-profit fundraising, supporting policy objectives and key projects.

Edward Caceres, Adelante Janesville Outreach Coordinator: Native of Lima, Peru, with expertise in marketing and management, focusing on Latino outreach programs.

Rinn Webber, Manager of Operations and Finance: Experience in human resource management and small business operations, overseeing financial and operational aspects.

Sommer Brockman, Brand Sales & Marketing Specialist: Background in project and event management across various industries, focusing on building strong relationships and creating impactful experiences.

Leadership Changes

In May 2024, Shar Hermanson was appointed as President and CEO, succeeding Dan Cunningham, who served as Vice President of Government Relations and Education for over 16 years before resigning in May 2023.

Competitor Profile

Market Insights and Dynamics

Forward Janesville operates in a competitive landscape with other regional chambers of commerce and economic development organizations, such as:

Monroe Area Chamber of Commerce: Serving the Monroe, WI area.

Rock County Development Alliance: A network of economic development professionals in Rock County.

Competitor Analysis

Monroe Area Chamber of Commerce: Focuses on supporting local businesses in Monroe, WI, offering networking opportunities and resources.

Rock County Development Alliance: Collaborates to expand development and investment perspectives for businesses and entrepreneurs in Rock County.

Strategic Collaborations and Partnerships

Forward Janesville collaborates with various organizations to strengthen its initiatives, including:

Rock County 5.0: A public/private initiative to advance Rock County’s economic development vision.

Blackhawk Technical College: Recognized as Educator of the Year in 2016 for its contributions to workforce development.

Operational Insights

Strategic Considerations

Forward Janesville differentiates itself through:

Comprehensive Member Services: Offering a wide range of resources and support tailored to business needs.

Community Engagement: Organizing events and initiatives that foster a strong sense of community.

Advocacy: Actively representing business interests in policy and government relations.

Competitive Advantages

Established Network: A long-standing presence with a diverse membership base.

Experienced Leadership: A team with extensive experience in economic development and community engagement.

Strategic Opportunities and Future Directions

Strategic Roadmap

Forward Janesville aims to:

Expand Membership: Attract a broader range of businesses to enhance the network.

Enhance Services: Develop new programs and resources to meet evolving business needs.

Strengthen Partnerships: Collaborate with more organizations to amplify impact.

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