Saturday, November 21, 2009

Just how did Panama City woo Coast WET?

MATT DIXON / News Herald Writer

PANAMA CITY — With thousands of economic development groups vying for relatively few companies that seek to relocate each year, getting to first place in the business recruitment game is no easy feat.

The moment Panama City took the lead in the race to secure Coast WET was a fairly well defined one, said Janet Watermeier, executive director of the Bay County economic development alliance.

After some thought, she was able to pinpoint the moment she knew Panama City had pulled ahead in the race to secure the hundreds of jobs that might come if they were able to snag the water-efficient toilet parts manufacturer.

“We still have not won,” the economic development maven qualified. “But the moment I knew we were in first place was when we received approval for the governor’s closing fund package on Sept. 1.”

That package offered $500,000 of discretionary revenue to Coast, which used the money to defray a portion of the estimated $600,000 it would cost them to relocate from Southern California. More here.

No comments: