BEDCO TARGETED INDUSTRIES

• Business service
• Expanded retail opportunities
• Medical Institution (or associated satellite operations)
• Standard and advanced manufacturing
• Environmental technologies - researching/testing and manufacturing
• Regional and Corporate centers
• Logistics
• Filmmaking (location shooting)

BOARD GOALS & PRIORITIES

Bonham is seeking to further diversify the area economic base by capitalizing on local and regional resources, and the excellent transportation network available in and near Bonham.  In response to this desire the leadership of the BEDCO and the City of Bonham meet in a workshop to discuss various topics related to economic development for the area with an emphasis on what were the most important efforts to expend the limited available resources.  The staff provided the facilitators for the workshop; Janie Havel, Office of the Governor and Terry Preuninger, Director of Economic Development for Oncor a list of industries they believe should be considered as target industries for special emphasis in the BEDCO’s business expansion and recruitment.  They are:

Business Service

Expanded retail opportunities

Medical Institution (or associated satellite operations)

Tourist-oriented development/hospitality and mature tourism

Standard and Advanced manufacturing

Environmental technologies – research/testing and manufacturing

Regional and Corporate centers

Logistics

Film making (location shooting)

After the group reviewed some common definitions of economic development and some of its components, the group listed the assets for Bonham and Fannin County that would be used to market and serve new development and the targeted industries listed.  These assets are as follows although not listed in order of importance:

1.      Highway system

2.      Location/Close to Dallas

3.      Available Buildings

4.      Available Water

5.      Recreation/Attractions

6.      Airport

7.      Air Quality Attainment Area

8.      Railroad??

9.      The Arts

10.  Health Care Facilities

11.  Agriculture Industry

As the group considered these assets in light of the question how the resources should be used; for what is their benefit to Bonham as it relates to economic development. The group provided three primary responses.

1.      Create Jobs

Manufacturing, Retail, Logistics, Tourism/Hotel

2.      Work with school/ develop workforce by working with schools and area/regional workforce development partners

3.      More Money/increase community wealth

As the long range goals of which these can be with others being intermediate actions the discussions moved to what actions the group felt was important to undertake within these three topics.    The intent was to list as many as possible reserving judgment on prioritizing the individual items until later.   The list of action items created included:

            Fund Eco Dev Professional

            Cooperation/support; BEST (Bonham Economic Support Team) Effort

            Positive Communication

            Educational Opportunities

            Triple Freeport due Diligence/ Planning

            Website update

            Local Industry communication

 Next steps exercise by the group was used to determine what actions should have the highest priority using s decision chart.  The results are shown in the Action Priority matrix below.

             Using the group’s work as recorded in the Action Priority Matrix the “Quick Wins” are the items seen as the highest priority as they are the most readily achievable in relation to the resources required.  The next category could be those in the “Fill Ins” while working on the longer term more resource intensive items in the “Major Projects” category.  Therefore the group’s efforts suggest this prioritization.

            Highest Priority

                        Local Communications and education of Eco Dev activities

                        Complete Hotel negotiations and construction

                        Revise Website

            Next Priority

                        Branding Campaign

                        Triple Freeport Research and Reporting of due diligence to Leadership

Education/Workforce training emphasis; Develop workforce through working with public schools, higher education institutions and area/regional workforce development partners.

            Long Range

                        Main Street revitalization

Summary:

Although implied throughout this document the BEDCO Directors and Bonham Leadership wanted to emphatically state in the record their consensus that the number one priority for the BEDCO staff was to create jobs and increase the wealth for the Bonham area.  The action items stated are activities to increase the competitiveness of the area and ability to market Bonham as an excellent location to relocate, expand, or grow a business.

Related Links:    Community Profile