The Madison Economic Partners and the City of Rexburg’s Department of Economic Development have developed a four stage process to help cultivate locally grown businesses within Eastern Idaho, and specifically in Madison County. Economic gardening is an entrepreneurial approach to economic development that seeks to grow the local economy from within. Its premise is that local entrepreneurs create the companies that bring new wealth and economic growth to a region in the form of jobs, tax revenues, per capita income, and a vibrant local business sector. Economic gardening seeks to focus on growing and nurturing local businesses rather than hunting for “big game” outside the area.
The purpose of the Rexburg Entrepreneurial Eco-System (REES) is to encourage the creation of organically created businesses throughout Eastern Idaho. The REES’s primary mission is to help generate business creation opportunities not only for the competition’s winners, but also for all participants; and to provide networking, business consultations and funding opportunities.
It is hoped that the meetings and events sponsored within REES will continue to: 1) provide incentives to new and existing businesses to work through the planning, preparation and presentation process; 2) facilitate networking opportunities for REES event participants; 3) promote Eastern Idaho as an ideal location for business development and investment; and 4) help businesses to secure the expertise and funding needed to grow and develop their businesses.
The Rexburg Entrepreneurial Eco-System consist of three events held between October and May. They are: The Google Rexburg Startup Weekend (held in October), the Big Idea Competition (held in February) and the Rexburg Business Competition (held in May). In addition to these events an Entrepreneurial Night (or E-Night) will be held on the second Wednesday of each month as a forum for local entrepreneurs to learn, network and encourage each other.