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									                                                          WID FOCUS
                                                           The Newsletter of the Committee of 100
                                                              WID serves the Greater Wilmington North Carolina
                                                           region—New Hanover and Pender Counties and the City
                                                             of Wilmington—and the Wallace 100 Committee, Inc.

SUMMER 2005                        Fortron Expansion Highlights Value of Sound
 New Members                2
                                   Economic Development
 CEO Notes                  2
                                   A successful economic           Though Fortron’s expansion         company employees and about
 SBA 504 Loan Info          2      development program             will create just four new jobs,    25 contracted personnel. Once
 504 Loan Savings           3      serves a community in any       its large dollar investment and    its current expansion is com-
                                   number of ways. There is        modest impact on local infra-      plete in 2007, the site will be
                                   the obvious focus on job        structure make it highly valu-     the largest PPS production
                                   creation and retention, the     able for Greater Wilmington,       facility in the world.
                                   lifeblood of any growing        according to New Hanover
                                   community. Development          County Manager Allen               Fortron’s president, Fred
WID 2006 Board of Directors        and appropriate use of in-      O’Neal. “Their investment is       Daniell, credited the presence
 Russell M. Carter, Chairman       frastructure -- which serves    essential to the continued         of Wilmington’s deepwater
       James D. Hundley            a community’s residential,      prosperity of our community,”      port, supportive local govern-
                                   commercial and industrial       O’Neal says. In contrast to        ment and tech-savvy work-
  Vice Chairman/Treasurer
                                   sectors – is also a key func-   job-rich projects such as the      force as key factors in his
      Gene F. Renzaglia,           tion. And working to en-        arrival of Verizon Wireless        company’s decision. Fortron’s
      2nd Vice Chairman            sure the continued success      last year, Fortron’s capital-      additional capacity will meet
 R. Scott Satterfield, Secretary   of existing industries is an    intensive expansion points to      the surging need for PPS
         Rick Biberstein           unchanging priority. Eco-       Greater Wilmington’s broad         among domestic and foreign
            Bill Blair
                                   nomic development is also       appeal to a range of industries.   buyers . “The capacity we add
                                   about building and preserv-     “What makes our community          will help satisfy the growing
           Garth Boyd              ing tax-base, the founda-       stronger is the diversity of our   demand for PPS worldwide in
   Mayor Spence Broadhurst         tion upon which local gov-      economic base,” O’Neal be-         the electrical, electronics,
        Carl A. Byrd, Sr.          ernment can fund vital pub-     lieves.                            automotive, aerospace, indus-
         Scott Cromartie           lic services.                                                      trial, consumer and other mar-
          Mary Gornto
                                                                   Fortron Industries, which          kets,” Daniell says.
                                   All these are among the         bases its corporate operations
        Robert G. Greer            reasons WID was pleased         in Florence, Ky., and Kelster-     In celebrating Fortron’s deci-
           Dwight Hall             and proud to join Fortron       bach, Germany, is a joint ven-     sion, WID chief executive
          Steve Jacobs             Industries in announcing        ture of Ticona Technical Poly-     officer Scott Satterfield ac-
            Bill King              plans for a $65 million ex-     mers and Kureha Chemical           knowledged the crucial role of
           Billy King              pansion at the company’s        Industries. The leading global     New Hanover County offi-
           Dan Martin              Wilmington plant. Fortron,      supplier of PPS considered         cials. “They made a clear
                                   one of the world’s premiere     locations in Latin America,        statement about our commu-
         Eric McKeithan            specialty chemical compa-       Europe and Asia. Its Wilming-      nity’s keen interest in being
       Eugene McMurray             nies, will double its pro-      ton plant, which the company       part of Fortron’s continued
         Sandy McNeill             duction capacity of poly-       built in 1993 and has ex-          growth and success,”
        Eugene Meadows             phenylene sulfide (PPS), a      panded several times since,        Satterfield says.
          John Merritt             high-performance plastic        was the only North American
                                   with applications across        site under consideration. Its
           Jay Milam               numerous industries.            current workforce includes 40              (Continued on page 2)
         James L. Smith

    PO Box 1698 • 1739 Hewlett Drive • Wilmington, NC 28405 • Phone: 910-763-8414 • Fax: 910-763-0106
Page 2
(Continued from page 1)                                                             New WID Members
                                                                                      CI Solutions
Aside from the new jobs and              Wilmington to low-cost                       Thomas R. Jividen
tax-base boost, the com-                 destinations abroad.”                        1213 Culbreth Dr., Wilmington, NC 28405
pany’s move is important to                                                           910-256-5353 • 910-256-5959 (F)
Greater Wilmington from a                                                   
symbolic standpoint.                     Fortron Industries
“Fortron’s expansion says                PO Box 327                                    Port City Staircase
all the right things about our           4600 Highway 421 North                        Dale W. Pitz
region’s competitive posture             Wilmington, NC 28402                          306 Old Dairy Rd., Wilmington, NC 28405
in the global economy,”                                                                910-794-1058 • 910-799-5172 (F)
Satterfield explains. “It il-            910-343-5000                        
lustrates the fact that value            910-343-5065 (F)
remains a pivotal criterion
when comparing communi-
ties such as

                                              SBA 504 Loan Rate 4.84%*
                                                SBA’s 504 Loan Program has 20-year Fixed Rate Financing.
                                                  *Current rate as of July 2005. Rates subject to change.

                                                                                                                His interest in WID never
  CEO Notes: Remembering Daniel David Cameron                                                                   waned. On our last meet-
                                                                                                                ing, several months before
                                            the case; possessed of a            example. As mayor during
                                                                                                                his death, he continued to
                                            humble and completely               the mid-1950s, he ushered
                                                                                Wilmington into a new           ask hard questions about
                                            approachable nature, he
                                                                                                                how the organization was
                                            immediately put me at               social and economic era.
                                                                                                                doing – and appeared
                                            ease. Above all else, that          He helped re-shaped the
                                                                                                                pleased and proud at the
                                            meeting was the beginning           region’s healthcare deliv-
                                                                                                                answers he heard. Though
                                            of an invaluable education          ery network. And more.
                                                                                                                his body was clearly fail-
                                            for me about business and                                           ing, his mind was sharp
                                            life – and how the two can          One story particularly
                                                                                                                and focused. He inquired
                                            intertwine to build great           stands out: as part of his
                                                                                attempts to convince New        about my family, urging
         Scott Satterfield, CEO             and lasting things.
                                                                                                                me not to allow my work
     Wilmington Industrial Development                                          York-based executives at
                                                                                                                to overshadow them. It
                                            Daniel David Cameron had            Corning that they should
  Fifteen years ago, before                                                                                     was a true Dan Cameron
                                            been a soldier, business-           erect a manufacturing out-
  joining the staff of WID, I                                                                                   moment.
                                            man, mayor and advocate             post in Wilmington, he
  had the opportunity to meet               of many worthy causes.              took them fishing. The
  Dan Cameron at a function                                                                                     A member of America’s
                                            His vast achievements in-           move was risky, but he
  held by a philanthropic or-                                                                                   “Greatest Generation,”
                                            cluded founding of the              had a hunch it might pay
  ganization with which we                                                      off. The outing returned        Dan will live on in the
                                            Committee of 100, where,
  were both involved. His                                                                                       ranks of North Carolina’s
                                            unknown to me that day, I           with an impressive catch
  reputation in Wilmington                                                                                      greatest leaders. His time
                                            would begin working some            of Black Bass, and the
  was already legendary, and                                                                                    on earth certainly made
                                            months later. Then, and             deal was done. The les-
  it was, I suppose, natural to                                                                                 Greater Wilmington a
                                            through many other meet-            son: economic develop-
  expect an overbearing per-                                                                                    better place, and I and
                                            ings that followed, he cap-         ment is at its heart a social
  sonality eager to leverage                                                                                    many others can honestly
                                            tured my imagination with           science, one marked by
  his lofty status in order to                                                                                  say we are better people
                                            his engaging stories. He            relationships that should
  intimidate a faceless young                                                                                   for having known him.
                                            had seen the best and worst         be capable of transcending
  fellow like me. That, how-                of all humanity – the               weighty matters of
  ever, proved anything but                                                                                     My Best Regards,
                                            beaches of Normandy, for            business.
                                                                                                                R. Scott Satterfield

 PO Box 1698 • 1739 Hewlett Drive • Wilmington, NC 28405 • Phone: 910-763-8414 • Fax: 910-763-0106
                                                                                                                           Page 3

                             The SBA 504 Loan Program Cash Flow Savings
This past year WID assisted in securing SBA 504 financing for several businesses - an ice cream shop, full service laun-
dry, label manufacturer, three childcare facilities and a veterinarian. SBA 504 loans can be an advantage for a borrower
in several ways.

One way is the improvement of cash flow. The following example of an $850,000 real estate project using the 504 loan
program versus conventional financing shows:

         504 Financing
                 Bank Loan (50%)           425,000 (15 yrs at 7%)            $3,820/month
                 SBA 504 (40%)             340,000 (20 yrs at 5.9%)          $2,416/month
         Total Loan Payments               $765,000                          $6,236/month

         Conventional Financing at 90% of Project Cost
                                         $765,000 for 15 yrs at 7%           $6,876/month

                                 Cash flow savings per month using SBA 504 funding is $640.

To find out more about the advantages of how SBA 504 funding can work for you, call Susie Parker at 763-8414 about your
upcoming project.

                                                          MARK YOUR CALENDARS!
                                                                   It’s time for our
                                                             2005 Annual Business Meeting

                                                               Tuesday, September 13, 2005
                                                                        5:00 p.m.

                                                                 With Guest Speaker
                                                       Lieutenant Governor Beverly Purdue
                                                           of the State of North Carolina

                                                      in the Warwick Center Ballroom at the
                                                     University of North Carolina-Wilmington

                                                    INVITATIONS WILL BE OUT SOON!!

 PO Box 1698 • 1739 Hewlett Drive • Wilmington, NC 28405 • Phone: 910-763-8414 • Fax: 910-763-0106

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