“Economic Development Foundation Needs Council Support” -Wade Giles

By Dave Freneaux

    Wade Giles, President of the Central Economic Development Foundation, spoke at the Republican Women's meeting in Central on Wednesday.  He explained the progress Central has made in encouraging economic growth sufficient to support the increasing demands of a growing School System and City.  In 2009 the City of Central hired a consultant, Steve Vasallo, to spearhead Economic Development efforts.  Mr. Vasallo encouraged the creation of the non-profit Economic Development Foundation, which since has been funded by private donations in excess of $60,000 and supported by many hundreds of volunteer hours by Central citizens and business owners.

     Mr. Giles explained that the majority of the new City Council has placed demands on the Foundation in exchange for Council support and has sought strict control over all expenditures of City funds earmarked for Economic Development, requiring full Council approval of each expenditure.  As a result of the new City Council's involvement in the Foundation's efforts, private contributions to the Foundation have ceased and the willingness of the volunteers to continue the work of the private entity have all but ended.

   Reached for comment, Mr. Giles stated,"Without the full support of the Central City Council, economic development initiatives cannot get traction because volunteers are no longer motivated and donors are hesitant to invest due to the negative reaction of the Council."  Mr. Giles further explained,"The full support of the Council is needed in order for the Economic Development Foundation to move forward and promote the City of Central."