Nacogdoches business leaders get lesson on economics - KTRE.com | Lufkin and Nacogdoches, Texas

Nacogdoches business leaders get lesson on economics

What hat do you wear when it comes to economic development? (Source: KTRE Staff) What hat do you wear when it comes to economic development? (Source: KTRE Staff)
A role playing game at the Nacogdoches Rotary illustrates a very real life lesson in economics. (Source: KTRE Staff) A role playing game at the Nacogdoches Rotary illustrates a very real life lesson in economics. (Source: KTRE Staff)
Economic developer Eric Davis explains why too much emphasis on retail development may do more harm than good to a city’s economy. (Source: KTRE Staff) Economic developer Eric Davis explains why too much emphasis on retail development may do more harm than good to a city’s economy. (Source: KTRE Staff)
When it comes to economic development, bringing money from the outside is the key to success. (Source: KTRE Staff) When it comes to economic development, bringing money from the outside is the key to success. (Source: KTRE Staff)
NACOGDOCHES, TX (KTRE) -

Starting, running and growing a business is a big money game. To illustrate the point, one planner explained the rules before a group of Nacogodoches leaders. 

Economic development is no sitting down matter when Eric Davis is around. 

"I promise you it's silly and it's absolutely real life," the manager for a planning, architectural and engineering firm said at the Rotary meeting Wednesday.

The development services manager for Longview's KSA Engineering hands hats to Nacogdoches business leaders for a role-playing game.

A captain's hat represents the manager of a  purple widget manufacturing company. The paint supplier wears purple, of course. 

One out-of-town buyer brings money to town and then leaves. 

The unemployed audience observes how quickly company profits disappear when after paying vendors and employees. 

"Please pay them $30 each," Davis said. "So you have a profit of what $10. You know, here man, taxes."

Employees see their earnings go away too. 

"On this side of town are the retailers and we have K-Mart and Wal-Mart in town," he said.

Nacogdoches Economic Development Corporation was also there to provide a project update. 

The Hotel Fredonia remains the biggest project. 

The scrapped site for a Baskin Robbins and Dunkin Donuts is moving forward for a November 23 opening. 

Site prep is underway for a travel center and Denny's restaurant on Northwest Stallings Drive. 

And Wal-Mart's Fresh Market Neighborhoood Center is at a similar stage on University Drive. 

Preparation is also underway for a regional economic develoment summit.  

"I know in this area we are looking at the Texas Forest County Partnership," said NEDCO President Nancy Windham. "We have an economic development summit on Nov. 4. It's in the Lufkin Civic Center that we will bring everyone together in a 13-county area to talk about what are our issues and how can we do a better job of marketing ourselves as a region.">

Generally, developers search a region before selecting a specific location.

Copyright 2015 KTRE. All rights reserved.
 

Powered by Frankly