Professionals made the difference with Vidalia Denim deal
Published 11:32 pm Saturday, July 28, 2018
Having professional economic developers working for the community can be the difference between having a building filled with employees and money in the bank and a vacant building and a town left holding the bag.
The recently announced Vidalia Denim immediately set interested local residents into “Google mode,” searching for connections between the principals in the new company and any past business dealings.
They immediately came across news reports of an oddly similar sounding development announcement fronted by the same CEO that is leading Vidalia Denim.
The difference, it seems, is Natchez Inc. and its work with the Town of Vidalia.
Between the town’s leaders and Natchez Inc.’s leaders, they made certain to fully vet Vidalia Denim and as Vidalia Mayor Buz Craft said recently, “The money is in the bank,” referencing the $12 million price paid to the town for its former Fruit of the Loom distribution center building.
As it turns out, local leaders were well aware of the similarities between the failed development and the one proposed for Vidalia.
They put safeguards in place to avoid the town being burned. Although confidentiality agreements likely prevent such from being disclosed, it’s quite likely that those safeguards contributed to the longer-than-anticipated announcement of the new development.
As any good attorney, accountant or real estate agent will tell you, a professional’s job is to make sure things go smoothly.
And in the case of Vidalia Denim Natchez Inc. and Town of Vidalia officials appear to have shown great professionalism.