PHENIX CITY, AL - Troy University will provide certain economic development services for the City of Phenix City under terms of an agreement signed Friday by Mayor Sonny Coulter and Troy University Chancellor Jack Hawkins, Jr.
The signing took place at City Hall with members of the City Council and several TROY administrators also participating. Mayor Coulter said he was pleased that the City and the University could enter into a partnership.
According to Mayor Coulter, "Today's contractual agreement between Phenix City and Troy University is evidence of the great relationship that has developed between us over the years. This economic development partnership pools our talents and resources to attract retail, commercial and industrial development to our city and community. We anticipate that this partnership will become a model for cities throughout our great state to follow."
Chancellor Hawkins commended Mayor Coulter and the City Council for establishing the partnership with TROY and its Center for International Business and Economic Development
"One of the objectives in founding the center was to help communities thrive in the global economy by connecting them to global partners of TROY," Chancellor Hawkins said Friday. "The partnership we announce today goes far beyond traditional university outreach. Troy University will be an integral part in Phenix City's economic development efforts."
Under the terms of the agreement:
- The University will establish a Center for International Business and Economic Development office in Phenix City. The office will be located in City Hall.
- The City will receive economic development advisement from Dr. Judson C. Edwards, Director of the Center for International Business and Economic Development at Troy University.
- The University will conduct an economic development study for Phenix City, which will provide recommendations regarding the structure and delivery of a comprehensive economic development program. Selected areas to be examined in the study are downtown development, planning, industrial recruitment, retail development and small-business development.
- The partnership will be established for five years, with the City paying $36,000 annually to TROY for the services. The contract stipulates, however, that the City could pay up to $100,000 annually if both parties agree that further work or personnel is necessary.