SUMNER — Would Tallahatchie County benefit more from a chamber of commerce, an industrial foundation or a combination of the two?
That was one of many thought-provoking questions posed last Thursday night to a crowd of about 40 people, including some local government and business leaders, gathered at the Sumner Grille.
The restaurant facilitated this third in a planned series of five meetings investigating the possible formation of a countywide economic development organization.
Three representatives from the Debt Education for Business Transformation & Sustainability (DEBTS) Program at Delta State University’s College of Business were on hand to guide the discussion.
“We were asked to come in by some of your elected officials to discover whether a chamber or an industrial foundation would be good for your communities,” DEBTS Director Abe Hudson noted in opening remarks.
“It is in no way our responsibility to make this happen; it is a community project,” he said. “We are simply the glue. All we’re doing is continuing to facilitate a conversation.”
Previous meetings have been held in Charleston and Glendora, Hudson added.
“The underlying purpose of all of it is entrepreneurship and economic growth,” said Dr. Hines Cronin, project evaluator for DEBTS. “It’s about the growth and development of communities. Real growth takes place when communities grow together.”
Hudson described the differences and similarities of chambers of commerce and industrial foundations.
He said chambers help existing businesses prosper and grow through networking, encourage expansion of the community and serve as a community’s information center or public relations arm.
An industrial foundation, Hudson noted, seeks to recruit new industry, increase job opportunities, enhance economic stability and address important issues in a community.
Both, he explained, would function as a voice of the community.
Among the challenges to starting a chamber or industrial foundation, or a hybrid of the two, Hudson said, are securing the funding and personnel to support operations, including “finding the right person to direct economic development,” and establishing good communications between all parties involved.
He quoted one rough cost estimate for annual operations of a chamber or industrial foundation at about $100,000, which would include the salary of an executive director and administrative assistant, rent, utilities, travel and miscellaneous expenses.
While noting that most chambers require members to pay dues, which could be used toward operational expenses, Hudson said coming up with all of the necessary funds “can be a challenge.”
Fortunately, he added, there is plenty of flexibility.
“You don’t have to do this exactly like any other chamber is doing it,” he noted. “But whatever you decide to do, you must be in agreement.”
Hudson said regardless of which form the local organization were to take, it should apply for 501(c)(3) or 501(c)(6) nonprofit status from the Internal Revenue Service and adopt articles of incorporation drawn up by an attorney.
“It would take a year or two to get a real deal done,” he said.
Hudson said there are plenty of area precedents for countywide organizations of this sort, citing the Sunflower Economic Development District, the Cleveland-Bolivar County Chamber of Commerce, the Tunica County Chamber of Commerce, the Coahoma Industrial Authority and the Washington County Economic Development Alliance as prime examples.
There was discussion about the number of members that should be on the entity’s board of directors and how those appointments should be made. Suggestions included having the county’s Board of Supervisors and the five municipalities in the county select representatives to a board of from seven to 10 members.
Hudson solicited the participation of audience members by requesting written feedback on provided note cards to a series of opinion-based questions ranging from the three greatest challenges for local economic development, to how strongly, on a scale of 1-10, participants believed race and racism, and the east side/west side sectionalism mentality, have held the county back.
IN THE PHOTO: Abe Hudson (standing, far right) has audience members write an answer to one of the questions he posed during a March 3 meeting at Sumner Grille. (Photo by Clay McFerrin)
