Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: WEDNESDAY, January 13, 1993 TAG: 9301130374
SECTION: EDITORIAL PAGE: A10 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
WORK WITH EXISTING BUSINESS
THE EDITORIAL, "Resolution for a region: Get real," published Jan. 3 in the Roanoke Times & World-News, calls to mind the need for Western Virginia to seize the limited opportunities that present themselves for developing the region so it can stand on its own economically. Specifically, your editorial recommended that we "capitalize on our existing assets."Recent bad economic news has been rocking the Interstate 81 corridor in Western Virginia. The Rockbridge area has not escaped this onslaught of economic setbacks.
Recognizing the need to capitalize on one's assets is important. However, what is really important is a plan of action that accomplishes that. There are several positive actions I would suggest our region can take immediately.
The most important is to work closely with existing business. It is estimated that more than 80 percent of jobs in a community come from existing business. The litany of recent business closings and cutbacks came from our existing businesses. Conforming to the needs of this existing business base cannot come too soon.
We must carefully take advantage of natural assets. Western Virginia is blessed with an abundance of natural products such as coal, wood and rock as well as our scenic beauty, rivers, mountains and trails. Business and government working together can balance the scales when environmental interests conflict with economic interests.
Examples of reclaimed land occur near Norton, where a shopping center has been developed on what was a strip mine, and in Rockbridge County, where our company stopped mining on a site and turned it into an attractive shopping center.
As your editorial pointed out, "available and prepared sites for business locations" are essential. In contrast to products whose business cycle varies (note the closing of Bluebird), there always will be a need for products developed from our natural resources.
As our global economy draws us closer, we must remember the importance of nurturing locally owned companies through the development of programs and policies. When local companies are sold to out-of-town or out-of-state companies, communities suffer. Hometown businesses understand the necessity of contributing to the development of their community.
The economic fallout from 1992 will hit in 1993 - in job losses at Gardner-Denver and Dominion Bank. We should realize that our region is in an economic crisis. No longer can we afford to stand back and wring our hands while events and circumstances overtake us. We must move quickly to take advantage of our opportunities. CHARLES W. BARGER III President Charles W. Barger & Son Construction Company, Inc. LEXINGTON