The new public-private economic development group the Delaware Prosperity Partnership has settled on a president and CEO.
William Kurt Foreman will lead the DPP starting in April. He is currently head of the economic development team for the Oklahoma City Chamber. He says the DPP will try to recruit new business, but will emphasize retaining the business already in the state.
“I think ultimately some communities think economic development is about waiting for that company from elsewhere to come save us--wherever that us is. The strategy laid out by DPP is not that kind of a strategy,” said Foreman.
The Prosperity Partnership was formed last year replacing the state run Delaware Economic Development Office.
Foreman says Delaware’s business diversity will help boost its business activity.
“From of the heritage of some of the most successful companies in U.S history to the variety of cool entrepreneurship opportunities that are developing here, it’s going to be a very ‘portfolio’ strategy,” said Foreman.
The DPP’s 19-member board co-chaired by Gov. John Carney will decide what economic development projects will get taxpayer dollars. State officials say the group will have a budget of about $3.4 million dollars per year. This year, $2 million is coming from the state and the rest raised from the private sector.