On Jan. 1, Joe Johnson began his first term on the Springfield Business Development Corp. Board of Directors. The SBDC, which operates on a $775,000 budget shared with the Springfield Area Chamber of Commerce, is beginning the third year of a five-year capital campaign, said Greg Williams, SBDC CEO and chamber senior vice president of economic development. In its first two years, SBDC helped bring in $175 million in capital investments, Williams said, adding that the five-year goal is to reach $225 million by 2012.
Q: How does the Springfield Business Development Corp. help attract new investments?
A: It's the economic development subsidiary of the Springfield Area Chamber of Commerce. It provides a revenue source to support the chamber's economic development program. The SBDC raises funds, primarily through (investor members), that are then used to go out and support existing businesses and to help attract new development in the Springfield area.
Q: According to the SBDC Web site, www.business4springfield.com, Lathrop & Gage is one of seven platinum-level investor members. What are some of the benefits of becoming an SBDC investor?
A: Anyone in the service industry or manufacturing industry is always interested in seeing new economic development in the area where they live or work. That's the goal of being an investor-member. We're here living and working, and we want to see the city and the surrounding community to continue to grow through economic development. That brings in new businesses that we can provide services to (a) new work force that ultimately supports our community. So, it's not a direct benefit. You don't become a member hoping that you become the lawyer for a new business. What you are trying to do is promote and encourage economic growth in our community.
Q: What does your general business consulting work at Lathrop & Gage involve?
A: Part of our practice is working with established and startup companies to set up their corporations, set up their business structures, to give them guidance and counseling on how to organize their business. Lathrop & Gage provides the whole array of legal services for businesses, from startup to business-succession planning, employment consultation, intellectual property work - which is patenting, trademarking intellectual property of the companies - (to) mergers and acquisitions, and litigation.
Q: How will that help in your role on the SBDC board?
A: Part of SBDC is education. What you're doing is educating existing and new businesses to look at Springfield and see what Springfield can offer. That's something we learn every day in our legal representation of companies. ... We can help show these companies that they can find all the services and all of the things they need right here in Springfield, Mo.
Q: If you were to personally give a tour to encourage someone to bring a business to the Springfield area, what three things would you focus on?
A: The first place I would take them would be the existing companies that have been around Springfield for a while: O'Reilly, Bass Pro, SRC, St. John's. Then, I would show them the more recent economic growth, which would primarily be the two industrial parks to show the trends of Springfield. ... Thirdly, I would show them where we're going by taking them on a tour of Missouri State University, the Jordan Valley Innovation Center, Drury University, and let them see what the community offers as far as education and health care. ... Then I'd take them to Casper's chili.[[In-content Ad]]
Moseley’s Discount Office Products was purchased; Side Chick opened in Branson; and the Springfield franchise store of NoBaked Cookie Dough changed ownership.
