2007-095-RES-Accepting and approving the Paris Economic Development Corporation Budget for the Fiscal year October 1, 2007; to September 30, 2008

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Lamar County — Paris Economic Development Plan • The Junior College should consider allowing the business Start -Up incubator to be constructed on its campus. The Task: Within one year, a special task force comprised of business, government, and educational leaders will investigate how other community colleges in the United States have interfaced with their community to enhance economic growth. The task force will then create a plan which gives direction to the Paris Junior College on how to create new programs to enhance the economy. The Task: Within two years, the Paris business community, county & city government, and the economic development organization will implement the plan recommended by the task force and form a partnership with the Paris Junior College to create long term programs to directly help to improve the economy of Paris. Public School System The quality of the local public school system becomes an issue when a company is considering locating several management personnel to a community. If the system is poor, the company will experience resistance by these individuals if their children are presently attending a system of high caliber. Sometimes, the ability to transfer key personnel influences the site selection process. However, a community should not make improving the local school system an economic development issue. If the quality of the local schools is not as good as it should be, then they should be improved for the benefit of the children in the area. Yet there is a direct correlation between the quality of a local economy and the quality of the local schools. When an economy is growing, especially in quality, then the taxable base grows, enabling the school system to finance a better program. In declining economies, the financial resources are not available to pay for the top teachers or the most modern facilities. The quality of the Paris public schools is not being evaluated as an asset or liability for the economic development plan. However, if Paris economy grows in size and quality, there will be more money available to improve the local school system. Recommendation: There is no specific action the community needs to take regarding this issue relative to economic development. Local Government: Local government, including city, county, township, or regional organizations, plays an important role in influencing the local economy. Policies enacted locally can create an atmosphere conducive to economic growth. Economic development organizations in most of the strongest local economies have the complete cooperation of local government officials relative to creating a business friendly environment which enables profitability for primary employers. Paris Economic Development Corporation Page 30