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Date: March 18, 2004
Contact: Jo Trizila
Director, Media Relations
Direct Line: 214-746-6690
Non-Published Cell: 214-232-0078

For Immediate Release

Greater Dallas Chamber Announces that $3.8 Million Raised in its New Economic Development Initiative
$7.5 Million Program To Target 32,500 High Wage Jobs

DALLAS, TX -- The Greater Dallas Chamber announced today at its DALLAS REGIONAL MOMENTUM kickoff breakfast at the Fairmont Hotel that over one-half of the a five-year, $7.5 million economic development program goal has been raised. As of this morning, $3,810,500 has been pledged. The 7:30 AM breakfast was hosted by the campaign's Development Council Co-Chairs and was led by Greater Dallas Chamber chairman, Norman P. Bagwell, president, Bank One Dallas, and the campaign general chairman, Tom Baker, president, TXU Energy and executive committee member for the Greater Dallas Chamber. The featured speaker was Terry Clower, Ph.D., Center for Economic development and Research, University of North Texas. Dr. Clower is the co-author of a December 2003 report, Thinking Strategically About Economic Development In Dallas: Why A High-Wage Recruitment Strategy Makes Sense.

The five-year economic development program is designed to expand the economic activity in the region. The program will help position the Dallas region to take full advantage of opportunities that promise to provide the highest return on dollars invested in economic development. Tom Baker said, "We need to take our economic development efforts to the next level. Momentum Dallas activities created 20,890 primary high paying jobs and 43,460 secondary jobs since the program was introduced in 2001. Chamber leaders, in early 2003, began to explore the possibility of upgrading their economic development efforts. A study was completed in 2003 by National Community Development Services, Inc., (NCDS) and it was determined that there was a strong interest in upgrading the Momentum initiative with a new, bolder, better funded economic development program for 2004 - 2008."

The DALLAS REGIONAL MOMENTUM $7.5 million fundraising campaign has attracted a stellar group of business leaders to fundraising leadership positions.The Co-Chairs of the campaign's Development Council are: David E. Alexander, vice chairman, Ernst & Young, Norman P. Bagwell, president, Bank One Dallas, Henry C. Beck III, managing partner, The Beck Group, Robert A. Chereck, Dallas Regional president, Wells Fargo Bank, Douglas E. Hutt, president, Bank of America-Dallas, Thomas C. Leppert, chairman & CEO, The Turner Corporation, Maribess L. Miller, Dallas Office managing partner, PriceWaterhouseCoopers, D. Roger Nanney, managing partner, Mid-America Region, Deloitte & Touche, Erle Nye, chairman, TXU Corporation, P. Scott Ozanus, Dallas managing partner, KPMG, LLP, Roger T. Staubach, chairman & CEO, The Staubach Company and Robert E. Sulentic, chairman & CEO, Trammell Crow Company.

Other private sector campaign leaders include Advance Division Co-Chairs: Eric E. Krueger, senior vice president, Centex Corporation, Eugene K. Sanger, Jr., president, Hunt Realty Corporation, David J. Scullin, partner, Deloitte & Touche, Frank M. Roby, president, Holmes and Murphy/Texas and David Hicks, senior vice president, Hillwood. Leadership Division Co-Chairs: Victor D. Alameda, president & CEO, Interceramic, Richard Gillis, Division vice president, Coca Cola Bottling Company of North Texas, Joseph M. Grant, chairman & CEO, Texas Capital Bank, Charles L. Gummer, president & CEO, Comerica Bank-Texas and Kevin McGlaun, vice president, Cousins Property. Pacesetter Division Co-Chairs: Mary Frances Burleson, president, Ebby Halliday Realtors, Preston McAfee, president, Rogers O’Brien Construction Company and Michael Morris, co-founder/owner Pro Staff.

The five-year DALLAS REGIONAL MOMENTUM goals include the creation of 32,500 high paying primary jobs in industries identified in target industry and target market studies. Norman Bagwell explained, "Now we need to focus on selectively recruiting those companies that we can best support with the resources and assets we have available, while working hard to improve our business climate and quality of life." When the 32,500 primary job goal is achieved, job creation multipliers indicate that 67,600 additional indirect jobs will be created adding a total of 100,100 permanent jobs to the region's labor force. Bagwell went on to explain that the economic impact on the region when job goals are met, personal income will increase annually by $2.5 billion and net personal consumption expenditures by $2 billion each year.

The Greater Dallas Chamber builds prosperity through economic growth and public policy, and unites the region's business community.

Note to Editors: For photo or interview opportunities please contact Jo Trizila at 214-746-6690.

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