Read chapter 53 before next class and be ready to discuss

I was doing a little preparation today for a presentation about economic and community development to the Leadership Hickman class next week. I would bet that there are at least ten people in the county who haven’t read what industrial development corporations are. Industrial development corporations were authorized by Title 7, chapter 53 (Industrial Development Corporations) of Tennessee which states:

7-53-102. Legislative intent and findings — Purposes of chapter — Construction.

(a) It is the intent of the general assembly by the passage of this chapter (Chapter 53 – Industrial Development Corporations) to authorize the incorporation in the several municipalities in this state of public corporations to finance, acquire, own, lease, or dispose of properties, to the end that such corporations may be able to maintain and increase employment opportunities, increase the production of agricultural commodities, and increase the quantity of housing available in affected municipalities by promoting industry, trade,commerce, tourism and recreation, agriculture and housing construction by inducing manufacturing, industrial, governmental, educational, financial, service, commercial, recreational and agricultural enterprises to locate in or remain in this state and further the use and production of its agricultural products and natural resources, and to vest such corporations with all powers that may be necessary to enable them to accomplish such purposes.

To assure that directors on the board of an industrial development corporation are active and interested in the economic and business environment of the municipality (county or city), state law mandates that every director shall be a member of “a chamber of commerce, board of trade, or other similar civic organization.”

About Daryl Phillips, CEcD

I am a professional economic developer. I presently work for communities and companies in developing and implementing workforce and economic development solutions as CEO of Phillips Economic Development Solutions (Phi EDS). Prior to September 2017, I was the economic development professional who served a community team of elected officials, business people, community leaders and dedicated stakeholders for economic development in Cheatham County, Tennessee (pop. 39,880) and its four towns. During my five-year tenure, I served the team as Cheatham County grew over 1,700 jobs, turned around population declines at the start of this decade into healthy population growth, increased tourism expenditures 20.3% and local tax revenue from tourism 25.4%, grew sales tax revenue 36%, focused on developing the local workforce and was recognized by SmartAsset as having the 9th highest Incoming Investment Index of all the 95 counties in Tennessee. I am a member of International Economic Development Council, Southern Economic Development Council, Tennessee Economic Development Council and International Council of Shopping Centers. I have earned the designation of Certified Economic Developer (CEcD) from International Economic Development Council (IEDC), the Economic Development Finance Professional (EDFP) certification from National Development Council and hold a Master of Business Administration from Tennessee Technological University.
This entry was posted in Uncategorized. Bookmark the permalink.