Economy, competition challenge to EDA director
Published 12:00 am Wednesday, September 17, 2003
NATCHEZ &045; The sluggish economy has been a frustration for Michael Ferdinand for the past year and a half. Expansions among companies nationwide have dropped by 25 percent.
That means states, counties and communities are competing more for less business, said Ferdinand, who was named executive director of the Natchez Adams Economic and Community Development Authority in 2001.
&uot;I’m not afraid of competition,&uot; he said. &uot;But we have entered the market in bad times. I accepted this position one week before 9-11. There already was a downturn in the economy, but with the uncertainty of terrorism, Afghanistan and now Iraq, there has been much unrest in the markets.&uot;
One of Ferdinand’s biggest frustrations to date &045; and a pressing issue at the moment &045; is the possibility of losing rail service into Natchez.
&uot;The consideration by Canadian National/Illinois Central of possibly discontinuing service to our area could be a critical blow if they choose to do that,&uot; he said. &uot;We do not have an interstate. We do have a port and we have the Mississippi River. But rail is crucial.&uot;
Should the company decide to pull out of the market altogether, some consideration of a short line with some level of public ownership will be in order, Ferdinand said.
As directed by his board, Ferdinand spends most of his time working on potential projects. &uot;And we’re working projects to the point that we’re making it to the final cuts. My business is trying not to be eliminated.&uot;
Like W.W. &uot;Woody&uot; Allen Jr., chairman of the EDA board, Ferdinand sees a major role for members of the community in helping to bring new companies to Natchez.
&uot;Business people in the community who are out and about identifying potential candidates and bringing them back to look at Natchez
&045; that’s a great sales force.&uot;
Natchez has many strengths on which to build a firm economic development base, Ferdinand said.
&uot;Quality of life has become important to businesses and industries, and I think we have the best in the state,&uot; he said. &uot;We have a great work force. We’ve seen a lot of hits, but the reasons were either economic or technological on the part of the companies that have closed or down sized.&uot;
The average project from start to completion takes about 18 months, Ferdinand said. &uot;Folks looking for expansion, joint venture or relocation, these are big business decisions. It takes time to make it work.&uot;
Ferdinand said he depends on board members for direction. &uot;I can’t take action unless I have the support of my board. From them I draw counsel and mission.&uot;
Good working relationships with city and county government officials also is essential, he said. &uot;And they have been very supportive of our efforts.&uot;
The work never stops. &uot;We will continue to work suspects, prospects and projects. We are generating leads,&uot; he said.