Category: Use it or lose it

Under the American Recovery and Reinvestment Act of 2009, Hickman County, Tennessee qualified for economic development financing of $644,000 for Recovery Zone Economic Development Bonds and $967,000 for Recovery Zone Facility Bonds. To access the attractive financing of the Recovery Zone Bonds, a county commission needed to first pass a resolution declaring all or part of the county economically distressed during the recession. The allocations from all the counties that are not interested will be deemed to have waived direct allocations of Recovery Zone volume cap on March 10, 2010 and Tennessee Dept. of Economic & Community Development will re-allocate the allocations to finance other projects in Tennessee. (Tennessee Changes the Recovery Zone Allocation Process)

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.
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