HADCO Still Seeking New President - WOWK 13 Charleston, Huntington WV News, Weather, Sports

HADCO Still Seeking New President

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By JAMES E. CASTO

For The State Journal

HUNTINGTON – The arrival of 2013 finds the Huntington Area Development Council (HADCO) continuing its search for a new president to replace Marc Sprouse, who has announced he intends to retire.

In a letter to HADCO supporters, Huntington attorney Stephen J.  Golder, the organization's chairman, indicated that a nationwide search thus far has not identified a suitable person for the job. "We are committed to finding the best candidate to lead HADCO," he said.

"It had been our hope to have a new president installed by year end," Golder said. Instead, the search is continuing.

HADCO was created in 1992 with a mission of attracting new employers to Cabell and Wayne counties, retaining existing employers and helping all employers expand their businesses. A public-private partnership, it receives 80 percent of its funding from companies and individuals in the private sector and 20 percent from local government.

It operates a $10 million loan pool from area banks to finance new projects. In addition, it acts as a broker for state, federal and local financing, and job training loans and grants to assist new and expanding businesses.

Sprouse has been HADCO president since 2009. Before that he was an active member of the HADCO board, and he was one of the organization's founders. A banker by profession, he served in numerous roles with several Huntington banks before taking the post at HADCO.

When he announced in September that he intended to retire, he said it was hoped that the organization would have a new president in place by the end of the year. However, he indicated he was willing to stay on until a suitable replacement was found and acclimated to the position.