Jun. 9—The Greater Owensboro Economic Development Corp. is moving out of its office at the Commerce Center on Third Street and into the Old National Bank building on Fourth Street at the end of the month.
EDC board chairperson Amy Jackson said the EDC is receiving the office space at no cost. ONB will also cover utilities for the office.
Old National also provides office space in the Fourth Street building to Junior Achievement, as an "in-kind donation," Junior Achievement President Dan Douglas said.
Jackson said the EDC board decided to take bids on new office space.
"The timing of our lease term (ending) presented us with the opportunity to examine all options," Jackson said. "We have accepted space to fit our needs at Old National Bank. It is being offered to us for free."
The move saves the EDC approximately $75,000 annually, Jackson said.
The move, Jackson said, will help the agency manage a decrease in funding from county government. The budget approved by Fiscal Court earlier this month reduced funds the county allocated to the EDC. In fiscal year 2022-23, Fiscal Court provided $184,000 in funding. In the new budget, which takes affect July 1, Fiscal Court will provide $92,000 to the EDC.
By moving, the agency can use funds "for EDC initiatives, rather than covering overhead," Jackson said. "The board decided this was the most fiscally responsible decision."
Wade Jenkins, market president for Old National Bank, could not be reached Thursday afternoon for comment. Jenkins is a member of the EDC board of directors.
"They have been great community partners," Jackson said. "We were just grateful for their continued support and investment."
Douglas said Junior Achievement moved into the ONB building last summer, also at no cost to the agency.
"We are very appreciative to Old National Bank for making the space available," Douglas said.
Previously, Junior Achievement had space provided by Texas Gas.
"The housed us for our fist 60 years, rent free," Douglas said of Texas Gas. "They were also very thrilled and supportive of us moving over here. This gets us closer to the downtown area and the business community."
Jackson said the EDC will still be near city and county government, along with agencies in the Commerce Center like the Greater Owensboro Chamber of Commerce.
"One of the real positives for us is we are still down there on the downtown corridor," Jackson said.