|
Publisher's
Profile
Related
stories:
- Growth without sprawl
Virginia
Business
December 2003
As
part of the Charlottesville regional report, Publisher
Doug Forshey spoke with Robert Foster, a principal at
Hantzmon, Weibel & Co., a local CPA firm celebrating
its 75th year serving businesses in the Charlottesville
region.
Q:
How would you characterize the Central Virginia economy?
A:
Unlike many other parts of the state, the recent ups
and downs in the economy have had little affect on our
region. We have seen a very slow and steady growth pattern
in the Charlottesville area and been relatively insulated
from the hard times. Northern Virginia is a classic
example of what this region is not. There are many CPA
firms in that area about our size that have gone through
dramatic increases (in personnel) and then had to cut
back, sometimes as much as 25 - 30 percent as their
economy fluctuated. We have tried to mirror the region
with modest growth, adding maybe one or two people a
year.
Q:
What role does the University of Virginia play in the
regional economy?
A: The University is main reason we have been insulated
from the economic swings of the past few years. Right
now, U.Va. has more than $700 million dollars worth
of capital improvement projects in the works, and that
is having a positive effect on the area. The University
Foundation has also had a hand in maintaining stability
in the region, keeping a large part of our work force
employed. U.Va. brings a lot of talent to this town
in the areas of medicine, law and business. These people
tend to start their own businesses and keep the local
economy going. That’s why these biotech parks are
so critical to our growth. They may not directly benefit
us today, but they will grow businesses down the road.
Q:
What challenges does the area face?
A: Over the past five years we have lost about two-thirds
of our manufacturing base. Companies like ConAgra and
Acme Visible Records (both from the Crozet area) no
longer have a presence here. We have to cultivate new
areas of expertise, like biomedical and biotech, based
on our proximity to U. Va. We need to get the word out
that Charlottesville is not some sleepy college town
in the South. We have a discerning and affluent business
community with an excellent work ethic and strong support
of local culture and the arts.
Q:
What challenges do you face as a regional business?
A: We constantly struggle with how to provide a
balance of services to our clients. As the largest regional
CPA firm in the area, we have to offer a wide range
of expertise to compete with larger, national and international
firms. At the same time smaller, local firms are constantly
trying to woo away our clients with an offer of lower
rates.
We’ve been in business for 75 years and have grown
along with this area. Over the years we have woven ourselves
into the fabric of the community, often handling the
business and personal finances of our clients while
maintaining an active role in helping the Charlottesville
region grow.
Return
to Virginia Business - December 2003
|
