Future Forward
Expanding RISE and bolstering STEM ensures success
By Jennifer von Geldern
Region Business is hoping to help Sacramento State find more funding for its STEM programming to benefit the school , its students , and the community and economy at large .
Photo courtesy of Sacramento State
Bolstered by more than 10 years of successes , Region Business looks to new initiatives to help shape our region ’ s future . Joshua Wood , Region Business co-founder and CEO , highlights two initiatives to better the local economy and enhance our region ’ s status by acting to keep our few remaining community banks from headquartering elsewhere while ensuring better access to capital for local businesses , and by supporting Sacramento State and its STEM endeavors .
RISE to the Challenge A significant new Region Business initiative is the next step for their Responsible Investments for a Stronger Economy ( RISE ) program , created in 2017 to retain and strengthen our region ’ s community banks . The program has already seen significant success and is ready to take its goal to the next level .
“ About 15 years ago , there were around 20 community banks headquartered in our region , and now , having lost many through mergers and acquisitions , there are only about five ,” Wood says . “ Some of those institutions are still here , but their leadership is not , and it ’ s critical to have locally-based banks with local decision makers for businesses to best access capital .”
Region Business began partnering with community banks to appeal to cities and counties in the region to hold their investment funds in local banks instead of the national and even international banks they ’ d been using , reasoning that it would strengthen the local banks and the local
106 comstocksmag . com | September 2022