Good morning,
It is time to dispel one myth about the restructuring of the Delaware Economic Development Office and the formation of the public/private Delaware Prosperity Partnership.
The myth that has emerged in recent coverage centered on the premise that DEDO was a more open organization than the partnership.
It’s simply not true. The business of economic development is grounded in selective secrecy.
In many cases, companies do not want to let the public in their employment centers know that they are shopping around. In other situations, companies invite a public round of bidding in seeking the biggest handout.
During its existence, DEDO observed the economic development rules of the road and kept a lot of things under wraps.
There are more than a few instances of companies expanding and not wishing to disclose their plans while working with DEDO on matters that did not involve the Strategic Fund.
The Strategic Fund, which okays the financial incentive packages, has open meetings and records minutes of its proceedings. That process remains.
It is now time to give the partnership and new CEO William Kurt Foreman time to develop and carry out a game plan and quit whining about a lack of transparency.
It will take time to determine if the partnership process is superior to DEDO.
There are grounds for skepticism, given the modest resources of the partnership and the prospect of too many board members coming from the government sector. Foreman will work to prove detractors were wrong.
Enjoy your Monday. The newsletter returns tomorrow. – Doug Rainey, publisher
