A new organization hoping to foster economic development in Powell is forming, and it received a boost last week from the Northwest College Foundation.

The foundation board voted to commit $20,000 per year for three years from its Bill and Joanne Price Economic Development Fund, an endowment designated to provide support for Northwest College’s work in economic development in consultation with community leaders.

LeAnne Kindred, chairman of the committee organizing the economic development effort, said the gift is welcome.

“We appreciate the gift and hope it excites the community and helps us reach the goal we want to reach,” Kindred said.

The money most likely will be used to help create and staff the group.

Kindred said the as-yet-unnamed organization is the outgrowth of discussions that have been underway since January at the request of the Chamber of Commerce Board. Approximately 30 members representing a cross section of community interests are part of the committee, and a seven-member board of directors has been elected that includes NWC board member Rick LaPlante and NWC President Paul Prestwich. Also on the board are Kindred, Trace Paul of First National Bank, Robin Roling of Powell Valley Healthcare, Powell accountant James Seckman and agriculture businessman Kelly Spiering.

Prestwich, along with Kay Dooley, training and development program manager for NWC, brought the funding proposal to the foundation for consideration.

Shelby Wetzel, executive director of the foundation, emphasized that the funding was only possible because it was in line with the Prices’ wishes.

“Gifts made to the NWC Foundation are used exclusively to meet the intent of the donors,” Wetzel said. “Generally, they’re directed to support scholarships, technology, new programming, sometimes building projects and a variety of other purposes. We could never redirect them to a community-wide initiative like this unless we have direction from the donor.”

NWC Foundation President Dick Nelson said Bill Price would have been “wholeheartedly behind this initiative.”

“The Prices specifically requested these monies be used toward encouraging new and existing local businesses and industries,” Nelson said. “We’re fortunate that Park County has an organization like the Northwest College Foundation to nurture and administer the wishes of community members in far-reaching ways like this.”

Wetzel said the contribution to the community was possible because the Powell area has provided considerable support for NWC through the foundation. She added that the college can’t succeed unless the Powell community is healthy and thriving. The community in turn depends on a strong, growing college for its cultural and economic success.

In addition to the $60,000 total contribution, the college will likely continue to provide support for economic development efforts through ongoing programming, community outreach efforts and other in-kind donations, Wetzel said.

Kindred said the economic development committee will meet again May 11, and will finalize its bylaws and choose a name for the new organization. She said she is excited about the new development effort and is happy to be part of it.

“I grew up in this community, and I want to keep it good,” Kindred said.

The foundation’s support will be a start toward that goal, she said.