Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: SUNDAY, October 3, 1993 TAG: 9310060134
SECTION: INDUSTRY RECOGNITION PAGE: IR-2 EDITION: NEW RIVER VALLEY
SOURCE: BY JOANNE ANDERSON
DATELINE: LENGTH: Medium
Forget mortgages, never mind public stock offerings. What's important is that the money coming in is more than the money going out. Players can adopt different strategies, such as spending a small amount on lots of cheap properties or going for on a few biggies. Winning depends on strategy, dealmaking and a healthy dose of luck.
The game's lasting appeal comes from its straightforward approach to life. Playing is like living: winning takes a business mind. Who can't relate to paying rent, the joy of Free Parking or paying utilities?
To say running a business is like playing Monopoly would, of course, be an egregious oversimplification. But what business person can say he or she has never pondered the real-life equivalent of deciding whether to put houses on Boardwalk or a hotel on St. Charles Place?
Location is a big part of the game. Location determines many of the base costs, which in turn set the parameters on the return on investment." "From the Editor's Desk" by Ken Ibold Editor of "Plants Sites & Parks" magazine
Location is just as big a factor in real life as in Monopoly. In Montgomery County, many company executives cite location midway along the east coast, good transportation accessibility, reasonable cost of doing business and a hard-working labor pool as location assets.
Where a manufacturing company is situated contributes to its success, while the industries in a community create economic stability and help define the quality of life.
With a public signing of the "Proclamation Declaring Montgomery County's 1993 Industry Recognition Week," the Town of Blacksburg, Town of Christiansburg and Montgomery County joined hands in creating a time to salute 42 manufacturing companies conducting business in Montgomery County.
The special week is organized by the Montgomery Regional Economic Development Commission and "is designed to focus the community's attention on the strong link between the viability of our existing manufacturing industries and that of Montgomery County," according to Don Moore, the Commission's executive director.
It's a fact that around 80 percent of new jobs in a community are created by expansion of existing businesses. Community support in the form of educational opportunities, governments that are responsive to industry needs and an informed business community that is willing to take risks is a crucial element for successful industry growth.
Manufacturing companies are extremely valuable enterprises in the county.
"Typically called basic industries, manufacturing firms make products that are by and large sold outside the county, which brings new income into the county," explained Jack Lewis, chairman of the Montgomery Regional Economic Development Commission.
As more products are sold, industries need more employees to produce the goods and even more income is brought into Montgomery County. As a result, local residents have more money in their pockets, they are able to buy more and the demand for local goods and services increases.
"Manufacturing industries are extremely important to our local economy because of their ability to generate new income which multiplies into more new jobs and higher overall economic impact," Lewis concluded.
by CNB