Chamber president predicts long road to recovery on The Murfreesboro Post

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Chamber president predicts long road to recovery

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By: ERIN EDGEMON, Business Editor

Posted: Sunday, September 20, 2009 6:44 am

Even if the recession is over, Rutherford County Chamber of Commerce President Paul Latture said the county and the nation has a long road to recovery.

“I still think we have a long way to go,” Latture said in an interview with The Murfreesboro Post just over a month after taking the position of Chamber president. “It will be a slow balanced resurgence.”

It is going to take awhile for businesses to recover and begin to rehire the employees it has laid off, he said, referring to the unemployment rate, which is hovering around 11 percent.

Rutherford County’s unemployment rate in previous years has stayed around 4 to 5 percent.

Latture said Rutherford County has been hurt as is apparent by the unemployment rate.

“I think we have done better than others” due to the diverse employment base that ranges from manufacturing to medical to retail, he said.

The economic downtown has affected economic development endeavors as many businesses have scaled back or put a halt to expansion or relocation plans.

During the down times, Rutherford County’s economic development staff has continued to work with and maintain relationships with site consultants and such agencies as the Tennessee Department of Economic and Community Development, the Tennessee Valley Authority and the Middle Tennessee Industrial Development Association.

But Latture said there is a recent increase in activity level in growing the county’s economic base.

For instance, Rutherford County is still in the running for a Harley-Davidson manufacturing plant that could employ around 2,000. Harley is considering moving the plant from York, Penn.

Murfreesboro is in contention with Shelbyville, Ind. and Shelbyville, Ky.

Harley is considering a 100-acre site on Joe B. Jackson Parkway. Officials from the company visited Murfreesboro Aug. 17.

Latture declined to comment on the status of the negotiations and whether Rutherford County or the state was offering Harley any incentives to bring the facility here.

“We are still very much a viable candidate,” he said, adding that the Chamber continues to have conversations with Harley officials. “We look forward to a successful outcome.”

Harley is expected to make a site decision by the end of the year.

Latture said the first signs that the economy is improving will be rising consumer confidence, which will lead to an increase in manufacturing of durable goods.

This will eventually lead to the rehiring of employees.

Latture said for every one manufacturing job eight others are created.

So, when manufacturing begins to increase in the county, conditions will begin to improve at other businesses, he said, specifically mentioning a growth in health care and retail that will follow.

Overall, Latture said Rutherford County’s economic picture will mirror the national one.

“It is going to be a slow climb,” he said. “It is moving in the right direction, no question.”

Another sign of the rebuilding economy is the green light for the construction of the Chamber of Commerce’s new building and visitors center off Medical Center Parkway near the Embassy Suites Hotel and Conference Center.

A grand breaking ceremony is being planned for mid-October.

“We expect to be in our new building in roughly a year,” Latture said.

He said the new building should aid in Rutherford County’s tourism and economic development efforts since it will serve as a new gateway into the county.

“It will be the first impression people have of Rutherford County,” Latture said.

Erin Edgemon can be reached at 869-0812 and at eedgemon@murfreesboropost.com.

Tagged under Chamber of Commerce, Paul Latture

Member Opinions:

By: TheHandymanDave on 9/21/09
It sure would help if we shop with local people and keep our money in Rutherford county.