|
 The
Cornerstone Regional Development Partnership facilitates the
creation and retention of quality jobs and significant capital
investment, resulting in a higher standard of living and a better
quality of life in Northeast Florida. Cornerstone works in
partnership with the Jacksonville Regional Chamber of Commerce,
the Jacksonville Economic Development Commission, JEA, the
regional county partners — Baker, Clay, Duval, Flagler, Nassau,
Putnam and St. Johns — WorkSource, the Jacksonville Port
Authority, the Jacksonville Aviation Authority, and 300 top
private sector investor corporate entities in the Jacksonville
area.
History of Cornerstone
The
Jacksonville Regional Chamber of Commerce has a long and storied
history in the area of economic development. In 1924 the Chamber
launched the first national recruiting effort, taking business
leaders by train to key cities in the Northeast and Midwest to
tell businesses about Jacksonville. The group named itself
“Believers in Jacksonville” and made aggressive and successful
efforts in expanding business in the area.
The economic development function continued throughout the
decades, and ”super funds” were raised on a number of occasions to
provide a special account for efforts to market and recruit
business, especially in the decades of the ‘60s, ‘70s and ‘80s.
The ”Committee of 100” was formed in 1961 and operated as a
division of the Chamber to put special emphasis on the effort of
recruitment. The Committee of 100 utilized these occasional super
funds to do the work of the Chamber.
 In
1990, following a major visioning process for the community,
Cornerstone was conceived and organized as a method of providing a
more formal relationship to fund and conduct economic development.
Following a fundraising effort, it was formally established in
1991, with planned five-year commitment terms from investors,
allowing for consistency in budgeting and staffing the economic
development effort. This approach also allowed for the
formalization of goals and a separate funding of economic
development, while maintaining it as a division of the Chamber.
Cornerstone is now in its third five-year program, having gained
increasing support and commitment from the investors.
Cornerstone, as it was formalized, was envisioned as a regional
economic development effort. In 1994 the regional effort began to
take shape, as Clay County became the first formal partner outside
of Duval County by pooling resources and working together to
recruit business to the region. Shortly thereafter, Putnam and
Baker counties joined the group, quickly followed by Nassau
County. Several years later, St. Johns and Flagler Counties
completed the inclusion of all the counties of the First Coast. A
formula based on the distance from Jacksonville and population
base determined the investment of the regional partner.
From a regional perspective, Cornerstone is a marketing,
prospecting and international trade partnership. From a
Jacksonville perspective, it also includes the expansion of
existing business and the development of small business as key
components of the economic development program. Each county
handles its own existing and small business development
independently, but in a coordinated fashion. |
