TEDC Board Meeting Minutes

Members present:  Herbison, Spurgeon, Lawyer, Oliveri, Theiss, Denton.  Suzie Lusk was present, as well as Sharon Younger and Kayla Taylor with Younger and Associates.

Spurgeon called the meeting to order.  There were no minutes or financials to be reviewed.

The issue of doing a competitive state incentive analysis was brought to the board by Lawyer.   In summary, for a couple of years, TEDC has been considering sponsoring a study of how TN stacks up to competing Border States.   A year ago, ECD’s research specialist put together a summary of other state’s standard incentives.   It was proposed to have TVA’s economist/research staff take this data, and update to make sure the information is current.   ECD is currently looking at incentive reform suggestions that cover mega projects and very large projects.   TEDC is proposing to look at more “run of the mill” projects, the types that we see more often than mega projects.

A motion was made by Lawyer to have TVA’s research team dust off the data originally compiled by ECD, and then proceed putting together a RFP for a well known site selection consultant to analyze several hypothetical deals and how standard incentives would compare state to state.  Herbison seconded the motion.   The motion passed.

Spurgeon brought up the legislative reception.   The event will be held as planned on February 15, 2006.   The day will begin with a TEDC/ECD staff mixer followed by a luncheon.  Members will then be free to visit legislators on capital hill.  The day will be concluded with the annual legislative reception.   A summary of day’s events and key legislative issues will be presented to TEDC board by 1/27/2006.   Goal is to have a legislative issues pocket card developed for delivery at day on the hill.

There being no further business, the meeting was adjourned.