You’ve got to spend money to make money.

That’s the philosophy behind “Excellence by Design,” a fund-raising drive to boost economic development activity in Lawrence.

The Lawrence Chamber of Commerce has set a $1.2 million goal, and co-chair Marilyn Dobski said she expected to meet or exceed that goal by the May 2 deadline.

“We have over $900,000 now,” said Dobski, co-owner of Lawrence’s McDonald’s franchise. “There are still a lot of proposals out there. There’s still a number of people who were contacted who wanted to be involved in the campaign.”

Fifty-nine area businesses have contributed to the drive since it began in September.

During a four-year period, the chamber expects to spend the money in the following ways:

• $480,000 on its marketing program to attract new businesses.
• $312,000 on a program to plan for new business infrastructure, such as industrial parks.
• $240,000 on a program to help existing businesses expand and remain in the community.
• $120,000 on educational efforts to create a business-friendly environment.
• $48,000 for a work force enhancement program to produce better skilled workers.

Chamber officials want to create 5,300 new jobs in the next four years using the money.

“Lawrence is becoming a bedroom community for Topeka and Kansas City,” Dobski said. “If there are businesses here, we can keep those people here.”

She said the efforts may focus on the life science push under way in Lawrence and at Kansas University, but she saw opportunities in other fields, such as information technology and aviation. That would help keep some KU graduates in Lawrence.

“We have people who have been educated here, but since there are no jobs they have to move on to other places,” she said.

The other co-chair is Robert Hemenway, KU’s chancellor. He said his participation was a sign the university would be a major player in economic development in the future.

“We want (the campaign) to be symbolic of the partnership, but it’s a working partnership, too,” Hemenway said. “We’re working together to enhance the economic life in Lawrence.”

The chamber hired a full-time fund-raiser to make contacts with potential donors. Glen Easter, an employee of National Community Development Services, is working out of the chamber offices to contact 15 to 20 potential donors a week.

According to economic formulas used by Easter, the new jobs are expected to create economic benefits for the community, including these annual forecasts:

• $103 million in new annual payroll for the county.
• $57 million in new disposable income.
• $10 million in new long-term banking deposits.
• $9 million in additional housing purchases.
• $5 million in new car purchases.