Industrial Development Authority sees a positive business future for Fredericktown
By Robert Vanderbrugen/Democrat News
Apr 09, 2008 - 15:06:56 CDT
The Industrial Development Authority (IDA) of Fredericktown held a meeting Wednesday, April 2, 2008 at Ole Times Country Cafe located in the Fredericktown Business Park.
Mayor Karen Yates welcomed the guests and IDA Board members. She commented on the hard earned success the City of Fredericktown has seen balancing the budget over the last two years.
Dr. Garland Hamilton then spoke to the audience telling them what the IDA is. Hamilton called the IDA an economic arm of the City which operates independently. He said the IDA members are appointed by the City with nine members on the Board who serve three year terms. He went on to name the nine member board:
Dr. Hamilton is the President, Chris Follis is the Vice-president, Abu Chowdhury is the Secretary and Bob Schwent is the Treasurer. Other members include: Don Middendorf, John Singleton, Bob Hufford, Harold Thomas and Phil Page. The audience introduced themselves from that point.
Fredericktown’s Economic Developer Jim Dismuke presented the annual report in printed form and included with a packet of information the audience received upon entering the meeting. His report highlighted new growth, expansions or improvements in the Fredericktown area for 2007 including; Pense Brothers expansion, Classic Equine addition, Ole Times Country Cafe opening in the Business Park, Follis Place banquet facility opening, Vance Winery opening, Cap America as a feature article in the Business Ledger, Sheltered Workshop expansion and new contract, Beyer Medical Group formed and a large grant to SMTS among other business growth.
Senior housing now availalble included Oak Terrace which has 18 units of senior housing apartments, and under construction is the Morning Star Disabled Apartment Project.
Projections for 2008 highlighted the roundabout, the new Auto Zone store (now open), the Town Square Project, remodeling of Pizza Hut, the hiring of an executive director for the Chamber, a call center, the new VISTA Project worker; Shanna Sorg and restaurants.
Following Dismuke, Health Department Administrator Becky Hunt presented a Powerpoint presentation on the Ambulance District issue which will have been voted on Tuesday, April 8.
Following Becky Hunt’s presentation, Mineral Area College’s Vo-Tec Project Vice-president Gil Kennon spoke about the bond issue (also on the April 8 ballot) for moving the Unitec Career Center from the 30 year old Bonne Terre building to the college’s Park Hills campus. More details concerning the bond issue are available in the February 27, 2008 issue of the Democrat News.
Mayor Yates then introduced keynote speaker Dr. Bruce Domazlicky, Director of the Center for Business and Economic Development Research at Southeast Missouri State University in Cape Girardeau. Dr. Domazlicky stated a disclaimer that his presentation is a result of his own research and personal opinions, not the university’s. His presentation showed a general overview of the economy and pointed out that, although the economy is slowing, some good economic development indicators have been in progress such as; roads that have improved, (see MoDOT story in this issue of the Democrat News) A good work ethic exists in Madison County, tourism is growing and he finds there to be good leadership in the region. Domazlicky said a concern is the infrastructure. He presented a Powerpoint presentation with Labor Department statistics . He pointed out many local residents who have attained a higher level of education often times do not return to the area. Domazlicky said statistics show a better educated workforce creates better productivity for a company.
In another concern, he said he believes high school students do not see Entrepreneurship as an avenue they could succeed in, and he would like that to change. He continued talking about economic development as being either people oriented or place oriented. Too often he believed that economic development was place oriented when it should be both people and place.
Dr. Domazlicky also spoke about an economic base theory or the basic industries needed for economic development to support any given area. His theory included tourism, retail trade, educational services, and medical services. He also said manufacturing is important to a region because exporting manufactured goods is important for economic development. He identified two businesses in Fredericktown that help in that regard, Versa-Tech and Classic Equine. Domazlicky said both manufacturers are growing.
Domazlicky also spoke about an economic tool called import substituion as an alternative to shipping products in from another region. In example, local food stores selling fruits and vegetables from local growers or Farmer’s Markets, rather than importing the products from another state.
Domazlicky continued his presentation with “what if” scenarios and their impact on a local economy. Scenarios that included potential increase in the number of jobs, sales tax revenues, personal income growth if an increase in tourism is seen. Tourism being only one part of the economic base theory mentioned above. He concluded his presentation with a public invitiation to a research conference being held on April 11 at Dempster Hall on the University’s campus.
In a later discussion, Dr. Domazlicky said any businesses providing a product or service should be sure they have adequate capacity for the number of tourists they may serve. And that students could be a source of labor for running concession stands. He also suggested the web based site called Location One be utilized.
http://www.locationone.com/
“Searchable Economic Development Database - Get detailed information on buildings, sites and locations for businesses looking to expand.”
The audience had a buffet style lunch (with the cost being paid by the individual attendees, not the IDA). During the meal, they were asked to hold discussions and present ideas at any table which was marked with specific areas of economic growth. The tables included: Retail trade, real estate, Entrepreneurship, manufacturing effort, the Business Park, downtown development, tourism, historic preservation, broad band access and out of the box.
The real estate table had discussions and ideas including the rehabilitation/removal of deteriorated/substandard buildings in town and downtown and the creation of low cost housing subdivision(s). They discussed whether or not people could afford the mortgages, even with interest rates near record low levels, the costs of escalating utilities and the expense of gas driving to work. One suggestion asked for banks and mortgages companies to work with homeowners and create a homeowner program that would help resolve some of the problems. Another suggestion was to create an enterprise zone and build an incubator building for outside companies to move into. The building would be low cost. By using local contractors, the work would refocus attention to local companies, rather than national companies when using products or services.
At the Entrepreneurship table, the new Vista worker, Shanna Sorg, presented the tables ideas including; Tapping into the existing knowledge base and create a business mentoring program with those who have been, or are currently, in business for years. Create a “Shop in Fredericktown” program. Provide some senior citizen discounts. And provide more things for the middle age group to do. Many of these ideas were also presented as opportunities for economic growth. Sorg can be reached at the Madison County Extension office 573-783-3303.
Mayor Yates presented the retail table ideas. The Fredericktown Business Park now has prime retail space available, and that prime retail space will be enhanced with the opening of the highway 72 bypass.
Abu Chowdhury presented the tourism tables ideas. His list included;
To cooperate and share information with other chambers of commerce and other counties.
Make an inventory of local attractions for brochures, publication and highway signage.
Visitor’s Centers with up to date information.
Include businesses and entertainment around Fredericktown on a website.
Offer free Wi-Fi service to tourists which would allow wireless Internet access.
Continues to create the Historic District and place the information on highway signs.
Have block/street parties.
Have City, IDA, Chamber and others promote attractions.
Increase the number of events tourists can attend, like the Tractor Show.
Work together with Department of Natural Resources (DNR) to clean-up areas like City Lake and offer picnicking and boating.
Create an area for horse training and horse sales.
Meeting coordinator Jim Dismuke said a few of those preceding ideas are already underway.
Other comments and suggestions presented included;
Broadband access was also identified as an important service Fredericktown should have available.
Provide additional parking, especially in the downtown area.
A motorcycle rally with respect to the size of the area.
Building a truck stop once the Highway 67 Corridor Project is completed.
Provide additional lighting at the Business Park. Also creation of a sign with what businesses and services are in the Business Park. (Including lot sizes and phone numbers).
Make a brochure to promote the Business Park.
Southeast Missouri Regional Planning and Economic Development Commission Executive Director Chauncy Buchheit highlighted some of the positive aspects of the area including the Highway 67 Project the Highway 72 Bypass/roundabout project, the Wal-Mart Supercenter, ongoing infrastructure improvements See MoDOT report on page2 of the Democrat News. He also talked about Community Development Block Grants (CDBG) as one important financial tool that is available to the area.
Bill Osborne, Director of SMTS in Fredericktown presented a written idea called a Transportation Coordination System for people traveling over 35 miles to work or school . The plan can be read on page 2 of the Democrat News.
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Mayor Karen Yates welcomed the guests and IDA Board members. She commented on the hard earned success the City of Fredericktown has seen balancing the budget over the last two years.
Dr. Garland Hamilton then spoke to the audience telling them what the IDA is. Hamilton called the IDA an economic arm of the City which operates independently. He said the IDA members are appointed by the City with nine members on the Board who serve three year terms. He went on to name the nine member board:
Dr. Hamilton is the President, Chris Follis is the Vice-president, Abu Chowdhury is the Secretary and Bob Schwent is the Treasurer. Other members include: Don Middendorf, John Singleton, Bob Hufford, Harold Thomas and Phil Page. The audience introduced themselves from that point.
Fredericktown’s Economic Developer Jim Dismuke presented the annual report in printed form and included with a packet of information the audience received upon entering the meeting. His report highlighted new growth, expansions or improvements in the Fredericktown area for 2007 including; Pense Brothers expansion, Classic Equine addition, Ole Times Country Cafe opening in the Business Park, Follis Place banquet facility opening, Vance Winery opening, Cap America as a feature article in the Business Ledger, Sheltered Workshop expansion and new contract, Beyer Medical Group formed and a large grant to SMTS among other business growth.
Senior housing now availalble included Oak Terrace which has 18 units of senior housing apartments, and under construction is the Morning Star Disabled Apartment Project.
Projections for 2008 highlighted the roundabout, the new Auto Zone store (now open), the Town Square Project, remodeling of Pizza Hut, the hiring of an executive director for the Chamber, a call center, the new VISTA Project worker; Shanna Sorg and restaurants.
Following Dismuke, Health Department Administrator Becky Hunt presented a Powerpoint presentation on the Ambulance District issue which will have been voted on Tuesday, April 8.
Following Becky Hunt’s presentation, Mineral Area College’s Vo-Tec Project Vice-president Gil Kennon spoke about the bond issue (also on the April 8 ballot) for moving the Unitec Career Center from the 30 year old Bonne Terre building to the college’s Park Hills campus. More details concerning the bond issue are available in the February 27, 2008 issue of the Democrat News.
Mayor Yates then introduced keynote speaker Dr. Bruce Domazlicky, Director of the Center for Business and Economic Development Research at Southeast Missouri State University in Cape Girardeau. Dr. Domazlicky stated a disclaimer that his presentation is a result of his own research and personal opinions, not the university’s. His presentation showed a general overview of the economy and pointed out that, although the economy is slowing, some good economic development indicators have been in progress such as; roads that have improved, (see MoDOT story in this issue of the Democrat News) A good work ethic exists in Madison County, tourism is growing and he finds there to be good leadership in the region. Domazlicky said a concern is the infrastructure. He presented a Powerpoint presentation with Labor Department statistics . He pointed out many local residents who have attained a higher level of education often times do not return to the area. Domazlicky said statistics show a better educated workforce creates better productivity for a company.
In another concern, he said he believes high school students do not see Entrepreneurship as an avenue they could succeed in, and he would like that to change. He continued talking about economic development as being either people oriented or place oriented. Too often he believed that economic development was place oriented when it should be both people and place.
Dr. Domazlicky also spoke about an economic base theory or the basic industries needed for economic development to support any given area. His theory included tourism, retail trade, educational services, and medical services. He also said manufacturing is important to a region because exporting manufactured goods is important for economic development. He identified two businesses in Fredericktown that help in that regard, Versa-Tech and Classic Equine. Domazlicky said both manufacturers are growing.
Domazlicky also spoke about an economic tool called import substituion as an alternative to shipping products in from another region. In example, local food stores selling fruits and vegetables from local growers or Farmer’s Markets, rather than importing the products from another state.
Domazlicky continued his presentation with “what if” scenarios and their impact on a local economy. Scenarios that included potential increase in the number of jobs, sales tax revenues, personal income growth if an increase in tourism is seen. Tourism being only one part of the economic base theory mentioned above. He concluded his presentation with a public invitiation to a research conference being held on April 11 at Dempster Hall on the University’s campus.
In a later discussion, Dr. Domazlicky said any businesses providing a product or service should be sure they have adequate capacity for the number of tourists they may serve. And that students could be a source of labor for running concession stands. He also suggested the web based site called Location One be utilized.
http://www.locationone.com/
“Searchable Economic Development Database - Get detailed information on buildings, sites and locations for businesses looking to expand.”
The audience had a buffet style lunch (with the cost being paid by the individual attendees, not the IDA). During the meal, they were asked to hold discussions and present ideas at any table which was marked with specific areas of economic growth. The tables included: Retail trade, real estate, Entrepreneurship, manufacturing effort, the Business Park, downtown development, tourism, historic preservation, broad band access and out of the box.
The real estate table had discussions and ideas including the rehabilitation/removal of deteriorated/substandard buildings in town and downtown and the creation of low cost housing subdivision(s). They discussed whether or not people could afford the mortgages, even with interest rates near record low levels, the costs of escalating utilities and the expense of gas driving to work. One suggestion asked for banks and mortgages companies to work with homeowners and create a homeowner program that would help resolve some of the problems. Another suggestion was to create an enterprise zone and build an incubator building for outside companies to move into. The building would be low cost. By using local contractors, the work would refocus attention to local companies, rather than national companies when using products or services.
At the Entrepreneurship table, the new Vista worker, Shanna Sorg, presented the tables ideas including; Tapping into the existing knowledge base and create a business mentoring program with those who have been, or are currently, in business for years. Create a “Shop in Fredericktown” program. Provide some senior citizen discounts. And provide more things for the middle age group to do. Many of these ideas were also presented as opportunities for economic growth. Sorg can be reached at the Madison County Extension office 573-783-3303.
Mayor Yates presented the retail table ideas. The Fredericktown Business Park now has prime retail space available, and that prime retail space will be enhanced with the opening of the highway 72 bypass.
Abu Chowdhury presented the tourism tables ideas. His list included;
To cooperate and share information with other chambers of commerce and other counties.
Make an inventory of local attractions for brochures, publication and highway signage.
Visitor’s Centers with up to date information.
Include businesses and entertainment around Fredericktown on a website.
Offer free Wi-Fi service to tourists which would allow wireless Internet access.
Continues to create the Historic District and place the information on highway signs.
Have block/street parties.
Have City, IDA, Chamber and others promote attractions.
Increase the number of events tourists can attend, like the Tractor Show.
Work together with Department of Natural Resources (DNR) to clean-up areas like City Lake and offer picnicking and boating.
Create an area for horse training and horse sales.
Meeting coordinator Jim Dismuke said a few of those preceding ideas are already underway.
Other comments and suggestions presented included;
Broadband access was also identified as an important service Fredericktown should have available.
Provide additional parking, especially in the downtown area.
A motorcycle rally with respect to the size of the area.
Building a truck stop once the Highway 67 Corridor Project is completed.
Provide additional lighting at the Business Park. Also creation of a sign with what businesses and services are in the Business Park. (Including lot sizes and phone numbers).
Make a brochure to promote the Business Park.
Southeast Missouri Regional Planning and Economic Development Commission Executive Director Chauncy Buchheit highlighted some of the positive aspects of the area including the Highway 67 Project the Highway 72 Bypass/roundabout project, the Wal-Mart Supercenter, ongoing infrastructure improvements See MoDOT report on page2 of the Democrat News. He also talked about Community Development Block Grants (CDBG) as one important financial tool that is available to the area.
Bill Osborne, Director of SMTS in Fredericktown presented a written idea called a Transportation Coordination System for people traveling over 35 miles to work or school . The plan can be read on page 2 of the Democrat News.