Key to Successful Economic Development is Planning

For Immediate Release: 
Feb 20 2000

Key to Successful Economic Development is Planning

Athens, W.Va. - Princeton City Manager Doug Freeman and Council Member William Stafford shared their insights and expertise with budding business-management students Thursday, February 17, 2000 at the Concord College Business Symposium sponsored by the Division of Business and Economics. Dr. Kendra Boggess is Chair for the Division.

Mr. Freeman told the students that planning is the key to economic development. "Failure to plan is a plan to failure," he stated. Financing, infrastructure, and workforce development are other key components of successful economic development.

Business categories that are looking for homes these days are: regional sales and service centers, 28%; corporate or division headquarters, 22%; plants, 20%; back offices, 14%; distribution, warehousing, 9%; others, 8%. Princeton is well-positioned, noted Mr. Freeman, for the top categories.

William Stafford told the audience that government cannot create economic development. But, through politics, relationships and partnerships, barriers and obstacles can be overcome for economic growth.

For more information on business as a major, call 1-304-384-5244.


Concord College Notes: Division of Business and Economics graduates have a history of high performance on post-exit examinations, such as the CPA licensure examination, and they report themselves to be satisfied in their careers. The Division is fortunate to have highly credentialed full-time Business faculty, with 82% holding doctorates or CPA credentials. Adjunct instructors also hold impressive credentials. Among them are two Ph.D.s, six Juris Doctorates, four MBAs, six CPAs, and an assortment of other professional degrees. These individuals are actively involved in the business community and generally hold high-ranking positions, which give them an experience base helpful to students.

Digital photo of Freeman and Stafford

Digital photo of Stafford and Freeman