Minden’s economic development is getting a boost from the Minden Economic Development Corporation.
MEDC made the first of four installments of a $50,000 contribution to the City of Minden for economic development. Ralph Williams, president, presented the check to Mayor Tommy Davis and newly hired economic director James Graham Tuesday.
“This check for $12,500 is just the first installment to be paid out over a four year period,” Williams said. “MEDC has made a $50,000 commitment to the City of Minden to assist them in their economic development initiative.”
“This just shows the interest of the citizens of Minden, specifically MEDC, in economic development,” Davis said. “They see both the interest and the need for economic development for Minden and the surrounding area.”
Graham says corporations like MEDC are assets to any community.
“The interesting thing about this is there are corporations like this across the country,” he said. “One of the greatest assets they can really provide a community would be creative ways to acquire property and to use that property as an incentive to attract companies as well as help existing companies to expand.”
He says these entities give an avenue through which people can donate property. People, through their wills, can donate property to the city through organizations like these. MEDC is a 501c3, nonprofit organization.
“We can accept donations and you can get a tax deduction for it,” Williams said.
Graham says organizations like MEDC can hold the property on behalf of the city.
The money will go into the general budget under economic development and will be used only for those purposes, Davis said.