Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2022 Virginia Business Political Roundtable
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Advertisement

Header Primary Menu

  • Issues
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • Issues Archive
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2022 Virginia Business Political Roundtable
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Home News New EDA chief tries to do business amid scandal

New EDA chief tries to do business amid scandal

Published December 2, 2019 by Gary Robertson

“I don’t know of any deals or prospects that we’ve lost or [companies that] have backed out as a result of the troubles we’ve had here,” says Douglas Parsons.

There is no normal — even a new normal — for the executive director of the Front Royal-Warren Economic Development Authority, Douglas Parsons. Not while his predecessor, Jennifer McDonald, faces criminal charges and a civil suit alleging that she engineered a $21 million embezzlement scheme.

A veteran in economic development, Parsons took office in May. Ever since, he’s been trying to stay focused on restoring the public’s trust and getting back to business, despite the still-evolving criminal and civil probes, which have ensnared McDonald’s husband, several businesspeople and the late sheriff. 

A circuit judge recently dismissed misdemeanor charges of misfeasance and nonfeasance against the county supervisors, County Executive Douglas Stanley and current and former board members with the economic development authority. The judge said  the charges were not listed as crimes under the state code.

“Right now, we have around $41 million in debt, and we have $1.6 million in the bank,” Parsons says of the authority’s finances.

“As we continue to make debt and interest payments over the next few months, that money will dwindle. We’re trying to be as frugal as we can all the way around,” he said in a late October interview.

The authority has filed a $21.3 million civil lawsuit against McDonald, her husband, her mother and various associates to try to recover as much money as it can.

Despite the unprecedented turmoil in what may be one of the biggest embezzlement cases in state history,  Parsons says the news hasn’t been all bad.

“I don’t know of any deals or prospects that we’ve lost or [companies that] have backed out as a result of the troubles we’ve had here. I think people realize that there are issues here, but they don’t really affect their bottom line,” he says.

Parsons adds that assuring taxpayers that the authority is transparent and accountable has been a principal goal of his.

Sandra Peart, dean of the Jepson School of Leadership Studies at the University of Richmond, says a lack of transparency can lead to corruption.

“Leaders are more likely to behave ethically if there is transparency,” says Peart, who has written extensively about leadership ethics.

Related Stories

Virginia Business logo

250,000-square-foot cold-storage facility opens in Mount Crawford

Eastern Mennonite University expands nursing program

Northam named Appalachian Regional Commission states’ co-chair

Governor to help oversee the program that brings funding to the Appalachian region

Trending

Dollar Tree CEO resigning; former Dollar General CEO to replace him

Rivers Casino Portsmouth opens to big crowds

Framatome CEO retiring; CFO to be promoted

Va. bill aims to reduce mental health stigma for health care workers

Former EAB buildings in Henrico sell for $5.35M

Sponsored Stories

In the New Year, Aim for Better Cybersecurity

4 innovative ways to create capacity

WHERE IS THE SUPPLY CHAIN WHEN YOU NEED IT?

P.A.I.N.T. Your Financial Mountain

5 Benefits of Treasury Management Services from Atlantic Union Bank

Blazing trails in the digital landscape

Advertisement

Advertisement

Trending

Dollar Tree CEO resigning; former Dollar General CEO to replace him

Rivers Casino Portsmouth opens to big crowds

Framatome CEO retiring; CFO to be promoted

Va. bill aims to reduce mental health stigma for health care workers

Former EAB buildings in Henrico sell for $5.35M

Sponsored Stories

In the New Year, Aim for Better Cybersecurity

4 innovative ways to create capacity

WHERE IS THE SUPPLY CHAIN WHEN YOU NEED IT?

P.A.I.N.T. Your Financial Mountain

5 Benefits of Treasury Management Services from Atlantic Union Bank

Blazing trails in the digital landscape

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2023 Virginia Business. All rights reserved.

Site Maintained by TechArk