The Magnolia Economic Development Corp. board of directors met in regular session Wednesday at the Chamber of Commerce. The board heard the financial report, transferred $64,621.29 from a CD to a money market account, and unanimously appointed Chris Gosnell to fill a vacancy. MEDC also approved the proposed 2015 budget, which projects total income of $245,714.80 and expenses of $164,643.75 for a net ordinary income of $81,071.05. With interest income added to the total, the budget projects a total net income of $82,754.56. MIke Boyd, MEDC chairman, praised efforts to make the new Workforce Services/Adult Education Building a reality. Dirt was turned recently on the building which is now under construction in the Harvey Couch Business Park. He noted it is one of two projects underway in the park, the other being Elliott Electric. Cammie Hambrice, executive director, reported Walmart will grant $10,000 toward the building.
