GREDF prepares for transition should Moore be elected state representative

QUINCY — The Great River Economic Development Foundation announced Tuesday that Madison
Badgley Peters has been promoted to the position of Vice President of the organization.

This is a newly-created post as GREDF and its president, Kyle Moore, prepare for the likelihood that Moore will be elected to the Illinois House of Representatives next month. Moore said he and GREDF’s Board of Directors have discussed what his compensation package will be and that it will be lessened should he simultaneously serve in the Statehouse while he runs Quincy and Adams County’s economic development arm.

Moore, a Republican, has no Democratic opposition on the Nov. 5 ballot for the 99th District seat, which encompasses parts of Adams, Brown, Cass, Schuyler and Morgan counties.

Moore, who served on the Quincy City Council and as Quincy’s mayor from 2013 to 2021, said he approached the GREDF board when he was interested in running for the seat upon Rep. Randy Frese’s (R-Quincy) retirement and they were open to him seeking elected office once again.

“The board will vote on my role if I’m elected,” Moore said. “The intent is to modify my pay based on time in Springfield… but they wanted to wait until it was final.”

GREDF Board Chairman Allen Schafer, who also serves as the President and CEO of First Bankers Trust, echoed Moore’s sentiment, saying the board did not want to take any premature action. He added they would meet and make the final determination if Moore wins the uncontested election.

Members of the Illinois General Assembly are some of the highest paid in the country, even though the offices are are considered part-time. In 2023, Frese made $98,500 in his role as state representative, according to the Illinois Comptroller’s Office.

According to GREDF’s 2022 IRS 990 Form that was filed in July 2023, the most recent on record from guidestar.org, Moore made $106,700 as GREDF president.

Peters began working for GREDF in December 2021 as Director of Business Development. In that position, she launched GREDF’s Business Concierge Service while growing the Quincy Concierge
Program to help newcomers feel welcome to the community. The organization has also seen three straight years of membership growth since she joined.

“When he is officially elected, my hope would be business operations continue as normal, Peters said. “I want the momentum to continue and expand my knowledge of business attraction, site selection and grant management.”

Peters has already moved into the role, which will also include overseeing the day-to-day management of the office if Moore is serving in his state representative role.

“Since day one, Madison has shown a unique ability to help our business community navigate the complexities of growing their business in these competitive times,” Moore said. “She has done this while starting new initiatives and programs that have added value to our members. The Board of Directors of the Great River Economic Development Foundation and I believe Madison’s leadership abilities and her dedication to our organization make her an obvious choice for the role of vice president.”