The executive director of the Fulton Economic Development Corporation will stay on after offering his resignation.

A press release issued by FEDCO Board President David Heyde states that In light of the recent rumors about a resignation by the executive director of FEDCO, Michael Ladd, the Executive Committee met Monday to discuss the issues.  On June 2, Ladd offered his resignation to the board, resulting from concerns that FEDCO had not achieved the successes it expected at the time of hiring.

Ladd expressed concern that funding issues with the county and city, and the inability to hire an administrative assistant, had affected the operations of FEDCO, and that he was dissatisfied with progress in those areas. 

FEDCO’s Executive Committee unanimously rejected the tendered offer, due to the several successes in dealing with members of both city and county governmental bodies, making for better relations than had recently existed, the numerous contacts for economic projects from local businesses and outside investors seeking partners.

Board President David Heyde said: ”For the problems he has faced coming into the community, and the obstacles thrown at him in the first few months he has been here, we are pleased with the progress, and want to continue on this path.”

Ladd expressed his regret that the offer added to tensions for the Executive Committee, but wanted to make sure that the progress to date was satisfactory to the board.