Economic development gets a boost from budgets

By: Sharon McBrayer | Morganton News Herald
Published: June 16, 2009

Morganton --

The county and some municipalities plan to budget more for economic development next year.
But the extra money isn't without strings.
Burke County's proposed budget for 2009-10 called for a decrease in funding for Burke Partnership for Economic Development. However, commissioners decided during its budget session to restore $33,328 to meet the organization's request for $165,405.
The additional money, however, is conditional on the organization raising $33,000 in private funds.
The city of Morganton increased its budget for BPED by 15 percent for next fiscal year. Morganton gave $60,000 to BPED in the 2008-09 fiscal year. The budget for next fiscal year to BPED is $75,158, said Sally Sandy, city manager.
Morganton's increased allotment to the organization depends on whether the other municipalities who fund BPED increase their budgets, said Sandy.
The Valdese budget for next year calls for an increase of $7,952, for a total of $36,564 for BPED, according to the budget.
Like the county, Morganton and Valdese also have stipulations attached to the additional money. Sandy said Morganton won't increase its budget unless the county and other municipalities do, too, because it wouldn't be fair to the city's taxpayers.
The towns of Drexel, Rutherford College and Hildebran increased their respective BPED budgets by $877, Sandy said.
Morse said Valdese will require that BPED have privately-raised funding in hand before it releases the additional money.
The additional money, say county and municipal leaders, would go toward hiring a new person.
However, the additional money from the governments won't be enough to fund that position, which is intended to be a recruiter of new business and industry, officials say. The current director of BPED, Wayne Harris, would stay on to work with existing business and industry, they say.
The additional money wouldn't just go to fund a new position, said Sandy. She said in April, BPED Chairman Rich DeAugustinis presented a scope of work that the organization intended to do, including Web site and marketing opportunities.
DeAugustinis said organization officials have been waiting to see what the county and municipalities will do with their budgets.
BPED will hold its annual meeting soon, he said, and one of the things that will be discussed is whether the organization will conduct a fundraising campaign.
Although BPED is a public/private partnership, its funding has been from taxpayer dollars.
DeAugustinis said in November that he's confident BPED can run a successful campaign to attract private investors.

Economic development gets a boost from budgets

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