MCEDC names new leader
A banking industry professional with long-standing ties to the McHenry County Economic Development Corporation was named the organization's new president today, ending an eight-month national search.
Pamela Cumpata, a former board member and treasurer for the MCEDC, was chosen from a field of more than 85 candidates for the post vacated in October by the sudden resignation of former president Chris Manheim, officials said.
MCEDC leaders said her selection caps an ongoing effort to strengthen and re-brand the agency in the wake of tumult that proceeded Manheim's decision to step down last year.
"Pam's business talents and finance experience will be of tremendous value as MCEDC provides service to McHenry County businesses impacted by our current economy," said Jim Thorpe, chairman of the MCEDC board. "Her passion and commitment to the mission of economic development - creating wealth and primary jobs really made her stand out from the pack."
The appointment also won praise from McHenry County Board chairman Ken Koehler.
"Pam's financial expertise will be a valuable asset to the county as we work through the many opportunities in the American Recovery and Reinvestment Act of 2009," he said.
According to an MCEDC release, Cumpata built her career over 23 years with primary financial institutions providing business development leadership to companies with revenues ranging from $3 million to $250 million. During that time, she built a record of increasing profitability, strengthening business relationships and providing leadership and direction.
She has been volunteering for the MCEDC since 2003, the agency said, serving on its board of directors, as its treasurer and chairing its Business Growth and Development Committee.
Manheim resigned in October amid complaints from county leaders about the MCEDC's effectiveness and questions about whether the county should continue serving as the public/private agency's primary financial backer. The county board ultimately agreed to continue the relationship with a deal that will provide the organization with about $636,000 in county funds over four years.