CEDC looks to bring tourism, business, retail here

One of the Canton Economic Development Corporation’s objectives for the coming year will be to bring added revenue to the city by promoting Canton to targeted industries.  

CEDC President Julie Seymore outlined the proposed 2015-’16 budget and objectives for CEDC board members at a meeting Aug. 6. Other goals include diversifying local industry and job markets along with continued development along the Interstate 20 corridor.

Seymore said the EDC would target medical facilities, transportation, warehousing, retirement services, hospitality, tourism, retail, plastic product manufacturing and agribusiness among their target industries to bring added revenue into the city.

Good news came to the CEDC as figures showed a healthy revenue for the upcoming fiscal year.

The CEDC plans to “hold steady,” on a revenue of $858,700, Seymore said.

“Right now, our revenue comes from three sources including that of sales tax, interest and we have one building that we rent out that brings in a little,” she said.

The CEDC has revenue of $850,000 generated from sales tax, $7,200 from rent and $1,500 from interest.

Operating expenses tally up to $200,600 with a large chunk of cash going into personnel costs.

CEDC projected expenses amount to $350,000 with a plan for a Pocket Park in the works.

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