ERIC Number: ED237745
Record Type: RIE
Publication Date: 1983-Dec-4
Reference Count: 0
RE-DeC, A Unique Private/Public Partnership--A Strategy Design for the '80s.
Fritz, Louis Winfield
Richland County, Ohio has brought together what is generally considered to be the broadest-based private development corporation in the United States. In 1982 a group of bankers and corporate executives made a decision to make a countywide commitment to support one corporate construction exclusively to direct a program and strategy for economic development. It would be financed by business, industry, banks, retailers, professionals, and local and county governments. A full-time professional economic developer would head the construction of a design to create the tools and organize the corporation into a function to target opportunities, market the area, assist existing industry to survive, and expand others. During this first phase of a classic four-part design in creating an economic development thrust, the Richland Economic Development Corporation (RE-DeC) was born. Currently, 15 support teams operate with 225 volunteer participants. During the organizational year, RE-DeC formed a local banking consortium to undergird the private financing of hotel construction, found a buyer and an adequate financing arrangement allowing a plant to reopen, and saved a business-forms corporation from closing. (YLB)
Publication Type: Reports - Descriptive; Speeches/Meeting Papers
Education Level: N/A
Authoring Institution: N/A
Identifiers: Corporations; Ohio (Richland County); Richland Economic Development Corporation
Note: Paper presented at the American Vocational Association Convention (Anaheim, CA, December 4, 1983).