Albany EDC Wants to Fund 'Business Intelligence' Project

Thursday, April 18th, 2013

Albany-Dougherty Economic Development Commission President Ted Clem told EDC board members during a meeting Wednesday he would soon seek approval to use "substantial retained earnings" for projects that will further the mission of the development authority.

Clem said after the meeting that by keeping spending in check, the EDC had managed to save almost half a million dollars, funds he'd like to use to finance business intelligence and branding projects.

"We were able to save the money simply by spending less than we took in," Clem said. "Now, we'd like to use some of that money on what we're calling a business intelligence project whereby we'll have consultants not only target specific industries most likely to locate in our region, but also help us identify specific companies within those industries.

"Our Renewal Task Force is also working on a branding initiative that's going to be pretty costly, and we'd like to use these funds to help finance that initiative."

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