The agency is a public-private entity which receives its funding from the city and county governments and the Paulding Chamber of Commerce. It focuses on recruiting business of all kinds — from retailers to industry — to Paulding.
Currently it is under a contract with Paulding County government for funding of $200,000 a year, which will end June 30, said Post 4 County Commissioner Tommie Graham.
Also, the Chamber has agreed to pay $50,000 this year, but does not have a signed contract yet, said 2013 chamber chairman Don Barbour.
“Economic development in Paulding County is very important,” Barbour said.
In the past the chamber has paid $100,000 per year to the organization, and in December the chamber negotiated for a $50,000 payment, he said. Also the cities formerly had paid $50,000 each to fund it.
The county government has not started discussing its future plans for funding, Graham said.
“I can’t see us not continuing to help,” he said.
The money the organization has received is seed money until the development can sustain itself, Graham said.
Ed Cahill, vice chairman of the Paulding Economic Development board, said it may have to start soliciting funds from private companies.
The board met Feb. 11 to discuss the development’s funding.
“We discussed all the options,” Cahill said.
He said they have enough money to last to the end of this year.
With 75 percent of Paulding residents traveling outside the county to work, it is the agency’s duty to produce jobs and bring a workforce to the county, which will in turn boost the local economy, he said.
“We need the community to understand what economic development is,” Cahill said.