Economic Development Board

After two months organizing its structure, Weakley County Economic Development Board has stepped up its pace and honed its focus, accepting land donated by one of the cities and approving construction of a industrial speculative building on the site. The group may move to construct a second building once several sites in the county have been evaluated by Tennessee Valley Authority, work that is expected to be completed in three to four months.

Meeting last week, the board took little time in unanimously acting on Dresden Industrial Board's donation of industrial property for the spec building. Immediately following the meeting, the finance committee met to begin planning financing of the building, which will be expandable and flexible in design so that, once purchased, it can be completed to meet a company's specific needs.

The action also followed a report that six resumes from persons in four states have been received for the position of WCED economic development director. The deadline for applications is Aug. 15 with the board's personnel committee. Hopefully a director can be hired by Oct. 1.

Earlier in the week, WCED board members met with Tennessee Valley Authority economic and community development specialists to discuss TVA services and request the evaluation of several tracts of property in the county for a possible second spec building and an industrial park. The donated Dresden acreage already has been evaluated by TVA. WCED plans to utilize several other TVA services after an ED professional is hired.

Also, the board agreed to submit the Dresden site and several other sites to the West Tennessee Industrial Association for the first round of a WTIA site certification process. The process is designed to rate sites throughout the region based on criteria cited by site location consultants, who assist companies with expansion and relocation projects. Sites that meet the criteria will be certified, with others receiving guidance in order to be certified.

Finally, WCED approved sharing the cost of a regional workforce analysis with Obion County Joint Economic Development Council, Fulton County (Ky.) Economic Development Partnership and others. Obion and Weakley counties, and more recently, Fulton County, have been meeting, discussing common issues and ways to collaborate that would benefit each county.

Earlier this year, all five city governments in Weakley County and the county government approved an interlocal agreement to cooperate and share a director, resources and expenses to pursue an aggressive program to spur growth in the county.

In offering the motion for the board to accept Dresden's 25 acres, with additional acreage available, board member, Mike Forchione, explained that surrounding counties are farther along than Weakley County with economic development plans. "Weakley County is still talking," he said.

Waiting until other tracts can be evaluated for a suitable spec building location puts us farther behind. We're losing our future," he said, adding that 25-35-year-olds, who would staff new industrial facilities, are leaving the county for job opportunities.

Forchione's motion stated that the spec building construction is to begin within six months. In addition to local financing, the board also may consider utilizing a TVA loan program. Once a financing plan has been developed, the WCED board will meet to consider the proposal and give final approval.

"Ninety-five percent of projects will look at a building first," Larry Ray, WTIA assistant director, said of the advantage of having a new, available building. TVA officials offered similar information at the meeting with local officials, citing the benefits of having a spec building to get the county noticed. Junior Moore, Weakley County Industrial Board chairman, said of the half-dozen prospects that have considered the county this year, "All wanted to see a building. They want to move and move fast," Moore said.

The WCED board endorsed use of a TVA Synchronist program that involves interviews with industry executives to yield information on four critical topics: a company's value to the community, its risk of leaving or downsizing, its growth potential and its satisfaction with the community.

The board also discussed challenges relative to workforce development, enhancing available training and skills of the local workforce and possible middle school initiatives to better prepare students for career choices and heard from Wallace Sexton, Newbern Technology Center director, about center programs and certifications.