SHELLEY — Two economic development organizations are REDI to join forces in an effort to better market the region’s strengths and, hopefully, increase opportunities in this area.

Following roughly a year and a half of discussions, Bingham Economic Development Corp. and Grow Idaho Falls, Inc. on Monday officially announced their plans to become one entity, Regional Economic Development Corporation for Eastern Idaho, also known as REDI.

“Too often (we’ve been) competitors rather than partners,” said Park Price, who serves on the REDI executive board and is the president of the Bank of Idaho.

He and others involved in the merger believe the local communities have much more to offer when they work together and a greater chance of bringing new businesses to the area and supporting those that already exist.

“I’m eager to get started,” Price said.

Officials made the announcement at Golden Valley Natural’s new facility in Shelley, a city located south of Idaho Falls, where the business is based. Assisting the business — which touts itself as the nation’s leading producer of natural and organic meat snacks — in its expansion to Shelley was an economic development success story, and it’s one officials hope to repeat in the future.

“It was a huge boon to Shelley,” said Jeff Kelley, who serves on the area’s city council and is a member of the REDI team.

He said the expansion will help the workforce and the tax base in the community when the facility is completed.

“It’s an enhancement of people’s lives (and) that’s what economic development is,” he said.

REDI has formed a seven-member Executive Board of Directors, a 23-member Voting Advisory Board and a Red Carpet Committee, which is comprised of city and county elected officials, said Ann Riedesel, past president of Grow Idaho Falls and one of the representatives on the REDI planning committee.

The boards will have representation from both the Bingham County and Idaho Falls communities and a small number of representatives from outside those areas since the organization is taking a regional approach to economic development, officials said.

Darlene Gerry, who was the executive director of innovation for Idaho State University (ISU) before she retired, is serving as REDI’s interim executive director while an Executive Search Committee looks for someone to fill the position in the future.

Gerry said she is excited about the merger that will give the region a “much stronger voice” when it comes to bringing new businesses to the area and assisting those that are already here.

Separately, the communities have their own assets. For example, Idaho Falls has the Idaho National Laboratory (INL) and Eastern Idaho Technical College among other facilities while Bingham County has a lot of rail sites and Bannock County has ISU. But taking a regional approach, they can offer all of those resources together and help businesses locate in the places that best meet their needs, officials said Monday.

They can also offer the second largest workforce in Idaho, officials said, adding that only the Treasure Valley surpasses local numbers.

In addition, the region also offers many recreational opportunities that can be appealing to future employees who will help increase that workforce.

Amy Lientz, a REDI team member and INL’s director of partnerships, engagement and technology deployment, said those who apply for INL jobs aren’t just interested in a position, but what the area has to offer, and they may choose to live in communities outside of Idaho Falls.

Although the merger only includes Bingham Economic Development and Grow Idaho Falls at this time, officials hope to prove their ideas will work so that others will want to join their efforts in the future.

Bannock Development Corp. opted not to merge with REDI after the Pocatello and Chubbuck mayors and Bannock County commissioners released a statement saying they opposed the merger and would continue to use tax dollars — which make up 62 percent of Bannock Development’s budget — to “direct economic development in our two cities and county.”

Still, officials from both REDI and Bannock Development say they will work with each other.

“Bannock Development Corp. is committed to working with all economic development corporations in southeast Idaho,” said Executive Director John Regetz.

Riedesel said more than 10 Bannock County-based business representatives attended Monday’s event in Shelley, and people from that area will likely serve on REDI’s boards in at least some of the positions open to outside communities in the future.

Bingham County Commissioner A. Ladd Carter said he supports a regional approach to economic development because the communities only have so much to offer separately, but they can bring much more to the table when they work together.

“I’ve been a great supporter of all they’re doing,” he said, adding that he will work with REDI in the future, and the commissioners have made sure that Bingham County will still be able to take advantage of the funds that have been put into reserves for local economic development over the years.