Industrial Development Board Hosts TVA Presentation

The Industrial Development Board hosted an informational presentation ED101:The Fundamentals of Economic Development, which was presented by TVA Economic Development Group. Representative Millie Calloway gave an overview of the components that create the most opportunity for economic development and the areas of economic development that comprise successful economic outcomes for the community. Calloway stated that vision must be aligned with development and that the global economy and interdependence with global communities are an important piece of the economic puzzle.

Calloway informed the group that surveys suggest that education is of paramount importance in recruitment of industry. Businesses are looking for an educated work force, as jobs are becoming more technical, and proximity to a college or university and ratings of the public school system are two of the three top ranking concerns regarding quality of life.

She stated that 80 to 90% of new jobs are created by existing businesses and stressed that it is important to support those businesses that are currently in the community. Calloway also said that tourism is important because it brings in dollars with no upkeep of the spender, such as infrastructure needs, that are associated with residence and costly to the local government.

In regard to promoting economic growth, Calloway said that all empty buildings are not marketable and issues, such as low ceiling height which reduces insurability, can make a building unmarketable. She also confirmed that having readily available property, what ever the acreage, is key.