Wayne County leaders challenged to think in new way

Michael Hicks, professor of economics and director of the Center for Business and Economic Research, and David Terrell, director of economic development policy, spoke to a group of about 65 community leaders Thursday at Reid Hospital’s Lingle Hall. The luncheon presentation was arranged by the Wayne County Area Chamber of Commerce and the Economic Development Corp. of Wayne County.

Definitions of economic development tend to focus on job creation, said Terrell. “We just unwittingly put ourselves under so much pressure ... not to look at other things.”

The traditional idea is that companies will locate where costs are low and that, once the companies come, people will follow.

Terrell suggested a new paradigm. Companies want reasonable costs, but they have to go where the people are — and people want to live in places they like. To create places where people want to live, you have to look at the “other things” such as education, health, taxes and crime rates. In other words, quality of life.