Bad news for Amherst's business park

The lingering effects of the recession could postpone hopes to attract new businesses to the Town of Amherst’s business park.

Two veteran economic developers, Lee Cobb and Roger Beeker, have been promoting the park for a year. They have met with more than 60 companies, but those companies are faced with financial challenges that prevent relocation or expansions.

“Business has not been good for these folks, and they are just simply not in a position to even consider a capital investment,” Cobb said. “We hit this project at a time when people weren’t really doing anything.”

Cobb and Beeker formed their firm, High Ground Partners, in 2008. Both are retired from the Region 2000 Partnership, where they helped attract new companies to the Lynchburg area and helped existing companies expand their operations.

In November 2008, the Town Council approved a contract hiring High Ground Partners. Under the contract, Cobb and Beeker would market the L. Barnes Brockman Business & Industrial Park, advise the town on pricing and zoning for the park and develop marketing materials. The town would pay $500 per month, plus commission, if a new business builds in the park.

The town spent about $3 million buying and developing the business park about 10 years ago. So far, only two businesses have moved in.

Cobb said that he and Beeker have met with companies inside and outside the region to promote the park. They have tried to emphasize the park’s close access to the U.S. 29 Bypass, its broadband Internet infrastructure and the fact that the town’s administration supports business expansion there.

Although some companies have expressed a desire to undertake expansion projects, they cannot start in the current economy, Cobb said.

“We’re at the stage where nobody’s doing anything except the federal government and companies that have contracts with the federal government,” he said.

Town Manager Jack Bailey said that High Ground Partners has developed materials to market the park. However, the town has not spent any money on advertising the park.

Cobb suggested not buying advertising because the prospects for success are slim now. “We’re not going to throw any money away,” Cobb said.

Cobb and Beeker have advised the town on zoning and pricing in the park, but the town has not changed any policies as a result, Bailey said.

The contract with Cobb and Beeker will end at the end of 2010.

Bailey said that it is important to have experts to market the park. “When the call comes, or you find a prospect, you need to have the resources to be able to react,” he said. “… You need to close the deal. (Cobb is) our main man when it comes to closing the deal.

“We’re open for business and, just like everyone else, we want to catch the next wave.”