AESI - Annual Economic Development Update

		Annual Economic Development Update AESI Praised by EDC For Intelsat Project MEDIA RELEASE Contact: Fred Teeter, President, Hagerstown-Washington County Chamber of Commerce, 301-739-2015 Tim Troxell, Executive Director, Hagerstown-Washington County Economic Development Commission, 240-313-2280 FOR IMMEDIATE RELEASE Hagerstown and Washington County Business and Community Leaders Hear Economic Development Update (Hagerstown, MD April 2, 2003) -- Nearly 90 area business and community leaders attended the Hagerstown-Washington County Chamber of Commerce's annual economic development update. Part of the monthly "Eggs and Issues" breakfast series, Wednesday's guest speaker was Tim Troxell, the Executive Director of the Hagerstown-Washington County Economic Development Commission. Tim Troxell reviewed local economic development activities from 2002, and on-going EDC efforts. He also provided a look ahead for the economic development department. During 2002, Troxell said that Washington County fared better than the national average, with below average unemployment, more than 1,000 new net jobs created, and more than 1,100 jobs retained. He also indicated that 2002 saw more than $150-million in new investment in Hagerstown and Washington County, with more than 250,000 square feet of new construction. His office handled more than 175 new serious inquiries from companies looking to possibly expand into the county. Troxell highlighted some successes, including the Lenox Distribution Center project along I-70 in Hunter's Green Business Park. This $28-million project is 505,000 square feet, and will create more than 70 new jobs. The company's consultant had chosen West Virginia to expand into, but after working with the county's EDC, Lenox choose to build its new project in Washington County. Troxell also discussed the choice that Mack Truck's Powertrain made, by staying and investing in its current location. The decision means more than $124-million of investment, and the retention of more than 1,100 manufacturing jobs. The company was being wooed by Florida and other states, and also by other countries. Troxell said that Maryland's DBED worked hard with the EDC to help keep Mack Trucks from closing its Hagerstown location. "Mack closed its South Carolina plant, and will be making all of its new engines here." The EDC Director outlined the "Maryland Advantage Program," which is an on-going initiative of the three Western Maryland Counties, working with existing businesses. Begun in 2002, the effort has to date resulted in meeting with 74 local businesses, reviewing issues and problems (including Washington County permit issues, road concerns, and government-needed intervention). Troxell said, "We believe that 75-percent of our new job creation comes from existing companies expanding, and adding jobs. We want to hear from our Hagerstown and Washington County companies, to find out about issues before they become problems." Troxell also stated that, in general, the EDC consistently hears from businesses that our residents make good employees, "Hagerstown and Washington County are well thought of, businesses praise our residents' work ethic, and attitude. This is a strong draw for us." He also discussed the importance of the county's strong educational system, regarding workforce development. Also outlined was Washington County's "New Jobs Tax Credit Program." This six year tax credit is for local and personal property taxes (equipment, computers, etc.). Troxell said, "We were the first in the State of Maryland to initiate and take advantage of this program. A company has to meet several eligibility requirements, including: 30,000 square feet of expansion, at least 50 new jobs, 150-percent of the average weekly wage - which would mean jobs at least $44,000 per year - comprehensive plan approved, targeted industries only, and not already a Maryland business (simply moving here for a tax break)." Troxell mentioned that the Intelsat's Mountainside Teleport project, which broke ground in January in Allegheny Energy's Friendship Technology Park, will be the first business to take advantage of the new program. "Intelsat is bringing 60 jobs, and is a $50-million project. We competed against Virginia and also other Maryland counties for this valuable project. This is the first tenant at Allegheny's business park, and we're hoping for more high tech and high paying jobs to follow." Following his remarks, Troxell also indicated praise for local companies working on the project, including Associated Engineering Sciences, Inc., civil engineers for Allegheny Energy and Intelsat. 2003 will include some new directions for the county's EDC department, including a new traveling position called "Business Development Specialist." The position will be a proactive salesperson meeting with companies in other states. Also, the EDC is completing a target market study, which matches up Washington County with potential new industries and companies. "We have a matrix of targeted companies, and have achieved a Top Ten list of five manufacturing sectors and five service sectors. We are looking for $15 per hour wage rate jobs, as a minimum target. The county commissioners will be presented with the results of this study." Troxell also stated that there are two projects that are very close to being able to be announced, including one significant project that should become public within a month. "Eggs and Issues" is a program organized by the Business and Community Development Committee of the Chamber of Commerce. The event was held at The Plaza Hotel. The Hagerstown-Washington County Chamber of Commerce's Business & Community Development supports local economic development initiatives and related efforts to improve the economic climate and inform the community and Chamber members about economic development issues. The committee produces the Eggs and Issues breakfast series, liaisons with the Hagerstown Area Joint Marketing Task Force, produces the Washington County Business Awards and Focus on Philanthropy projects, oversees the work of the Immigration Task Force, and advises the Chamber Board and members about economic development issues. For more information, see: www.hagerstown.org. The EDC is a Washington County government department. The EDC has business leaders on its board representing the Chamber of Commerce, the Greater Hagerstown Committee, the City of Hagerstown and other smaller municipalities, and Washington County. For more information about the Hagerstown-Washington County EDC, see: www.hagerstownedc.org. The April "Eggs and Issues" breakfast event was sponsored by Waypoint Bank. For more information, see: www.waypointbank.com. # # # # << back to news