The City of Albion is reinventing itself after experiencing the same changes that most Midwestern manufacturing towns have with the decline in manufacturing jobs that have led to population loss and a diminished tax base. Over the years there have been several initiatives to address these challenges. Although there has been some success, a major renaissance has been elusive. An effort that included all the major partners was needed to move the community forward. Today, Downtown Albion is on the cusp of revitalization and there are many players that have been and continue to be instrumental in the development.
Albion Reinvestment Corporation
Albion Reinvestment Corporation, a 501(c)(3) charitable organization whose primary mission is to combat further deterioration of downtown properties by promoting economic growth in the downtown Albion business district in cooperation with the City of Albion, Albion Economic Development Corporation (AEDC), Greater Albion Area Chamber of Commerce, the Downtown Development Authority (DDA), the Albion Community Foundation (ACF), and community groups. ARC’s role in community development focuses on the downtown to ignite economic growth and investment. This role involves administering funds to facilitate the acquisition, renovation, and lease and sale of underserved properties to help eliminate blight and encourage businesses to start-up in and relocate to Albion.
Albion Reinvestment Corporation is a 501c(3), public charity, that combats community deterioration in the Albion downtown business district and surrounding areas to improve and revitalize the district into an area that is attractive to businesses, employment and entertainment, through continued initiatives that:
- Promotes economic growth, employment and development by offering capital, real property and other incentives to businesses, educational institutions, healthcare organizations and entertainment providers considering locating new facilities or development;
- Unites all parties interested in the redevelopment of downtown Albion, including education, government, business and charitable institutions in a broad based coalition; supporting existing businesses and encouraging entrepreneurial business development; enhancing public infrastructure, improving aesthetics and eliminating blight and vacant storefronts; increasing residency in the downtown; and developing the downtown into an attraction area for business, employment, education and entertainment;
- Advocates and solve problems with governmental entities and other agencies on behalf of new and existing businesses and other institutions desiring to locate new facilities or developments in the downtown area;
- Identifies new construction or expansion opportunities in the downtown area; aiding in or locating appropriate sites for construction or expansion opportunities; attracting investment capital to those opportunities; inventorying and establishing priorities on investment opportunities; and expediting their fulfillment;
- Initiates applications for Federal and State financial and other charitable support of the economic development in the downtown area;
- Uses all effective means to bring in new construction and business that will provide jobs and increase the job base of the City and committing local business and non-Albion based businesses, educational institutions, government agencies, nonprofit organizations and other employers to locate new facilities and developments in the downtown business district.