Vision with Values

        Originally, 100 far-sighted individuals agreed to take out membership at $100 each to be used as working capital. Initially, they were issued $100 membership stock certificates. Since it was organized as a not-for-profit development company, the stock certificates thereafter represented only membership. No dividends were ever paid nor any officers or members ever paid for being a member. Pride in the community and the organizational accomplishments has been the only return to the member. Of 100 original members, less than this still remain in this community but most are active business persons or supporters.

        Out of declining rural, small and county seat towns in this great plains area, Beloit has survived about like an Oasis on the sands of general economic decline of comparable rural communities. It has survived because of dedication, leadership, enthusiasm and vision of the community. BID has been the catalyst to foster and encourage these attributes.

        While the community has benefited from a good geographic and strategic location, highways, water supply, etc., the work ethic and persistence of its citizens have made the difference. Although our people are basically conservative for the most part, they are optimistic and have the ability to persevere. These attributes are critically important.

        BID is now 40 years old and has had many accomplishments. It has been instrumental in community projects, promotion of schools, assistance to start up and existing businesses, airport enhancement, housing development, business and professional recruitment, community revitalization, and many efforts to improve an already high quality of life and community pride.

        In late fall of 2002, BID changed its name to Solomon Valley Economic Development, Inc. to include other communities in Mitchell County to better enhance the area.