A major grant from Hagerty will help expand the regional economic development initiatives of TraverseCONNECT .
Hagerty, the world’s leading provider of insurance coverage for classic vehicles, made a 3-year commitment totaling $90,000 to TraverseCONNECT, the parent organization of the Traverse City Area Chamber of Commerce and Venture North Funding & Development.
“Hagerty supports TraverseCONNECT in its mission to be a catalyst for responsible economic growth and community well-being,” said Barbara Matthews, Hagerty’s General Counsel and a member of the TraverseCONNECT Board of Directors. Matthews presented the grant to TraverseCONNECT CEO Doug Luciani at a gathering this week of the organization’s high-level investors.
“The multi-year nature of this commitment reflects Hagerty’s belief in the strategy Doug and his team have defined and is designed for the organization’s long-term sustainability,” Matthews said. “Hagerty joins TraverseCONNECT in its shared desire to create a regional gateway to business growth in northern Michigan.”
TraverseCONNECT became the parent organization of the Traverse City Area Chamber and Venture North following a reorganization of the regional chamber earlier this year.
The chamber has a 100-year history of business and community support in the region and includes nearly 2,000 members, while Venture North offers a wide range of business financing across a 10-county region with more than $5 million in assets. TraverseCONNECT also has a for-profit arm focused on regional economic development challenges and opportunities in areas including housing and energy.
“It’s very reassuring when an international, world-class business such as Hagerty provides a tangible endorsement of the direction that the organization took in its reorganization this year,” Luciani said. “We appreciate Hagerty’s support and hope that it serves as a catalyst for other business investments in TraverseCONNECT.”
Luciani also noted that TraverseCONNECT shares Hagerty’s interest in helping small companies grow into Stage 2 businesses, and is focused on strategies and initiatives to help them reach their full growth potential.
Matthews said the support for TraverseCONNECT also reinforces Hagerty’s long-term commitment to Traverse City, where the family-owned company was founded and home to 600 of its 700 world-wide employees.
“We look forward to working alongside the TraverseCONNECT team to leverage this investment to impact economic growth in our hometown,” Matthews said.