CARY SETS ECONOMIC DEVELOPMENT PROGRAM IN MOTION

Town to Fund 2 New Positions at Cary Chamber

CARY, NC – Last night the Cary Town Council voted unanimously to accept a citizen advisory board’s recommendations for launching a formal, comprehensive economic development program to help ensure Cary’s long-term economic strength.  The Town’s Economic Development Commission made its recommendations to the Council after months of in-depth analysis of an economic development study completed in February by the Sanford-Holshouser Group, which was commissioned by the Town Council last year.

"We are so pleased that the Council embraced our recommendations and appreciate the opportunity to continue playing such a vital role in this very important effort for our community," said Cary's Economic Development Commission Chair Nellie Shipley.

Under the economic development structure approved yesterday, the Town of Cary will dedicate $750,000 in business license fees and other sources to support its long-term commitment to the program, including funding two new positions at the Cary Chamber of Commerce.  The new Economic Development Director and Business Retention and Expansion Coordinator will be tasked with a wide range of duties including:

§         Instituting an existing business retention and expansion program

§         Establishing a small business entrepreneurial development program

§         Concentrating on product development

§         Revitalizing downtown

§         Adopting industry sector targets

 “Our unanimous decision to create this new program speaks to the Council’s strong commitment to continuing to address Cary’s future from every angle,” said Cary Mayor Ernie McAlister. “The Chamber is the perfect place for this effort, and we’re glad they’ve agreed to take on this important work.”

While the two employees will be part of the Chamber’s staff, they will be interviewed by a new economic development governing board including Cary Mayor Ernie McAlister, Mayor Pro Tem Jack Smith who servers as the Town Council Liaison to the Economic Development Commission, Town Manager Bill Coleman, Cary Chamber President Howard Johnson, and Chamber Chair Brian Reid.  Expected hiring range for the new Economic Development Director will be $75,000 to $99,000; the expected hiring range for the new Business Retention and Expansion Coordinator will be $50,000 to $72,000.

“We appreciate the Council’s confidence in us and look forward to spearheading this effort,” said Cary Chamber President Howard Johnson.

Expected to be established late this summer, the Chamber’s new economic development wing will make regular progress reports to the Town’s Economic Development Commission as well as the new governing board. 

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