It takes courage to make investments in these uncertain economic times. With the capital and equity markets in the midst of a grand mal siezure right now many businesses are rethinking their investment options. Business recruitment and expansion is tough under any circumstances but try it in times like these and you have to ask yourself is it really worth chewing through the straps on the straight jacket every morning to get to work. The challenge for the City is residents expect their city to have the where-with-all to not fall victim to the highs and lows of business cycles. Can you imagine the 911 operator saying we’ll get back to you as soon as the economy turns around. But the reality is our ability to deliver services starts and ends with the local economy. That’s why we cheer loudly for companies like Don Joseph Toyota who took a $25,000 City investment and turned it into a $12 million investment. See the results for yourself.
Have you checked the ledger sheets for car dealerships lately? U-G-L-Y. The housing industry may be making all the headlines but it’s not pretty in the world of GM these days by any means.
Locally, Don Joseph Toyota is bucking the odds and making a signficant investment in their ability to competitive as a car dealership at a time when other dealerships are closing their doors. I’d argue that’s exactly why Toyota sits atop the food chain in the animal kingdom of cars. Toyota is the team to beat because they believe they have a first rate product to sell and despite the chilling effect the economy has had on customer’s buying habits they’re looking ahead to make sure they’re in a position to lead tomorrow no matter what the economic indicators portend today.
Sticking to this strategy has got to be testing the mettle of everyone in the Don Joseph camp. I’m guessing Jeff Joseph has had his fair share of sleepless nights but at the end of the day he’s sticking to the Toyota formula for success and that includes making strategic investments even when it hurts.
For Kent, Don Joseph’s investment means one of our most successful businesses is staying put — they’re not going anywhere anytime soon (hopefully ever). That’s big news for us and with Toyota’s expansion underway we will soon see the financial benefits of the new jobs that the investment will bring.
As a City we’ve tried to be more business-like in our own investment strategies, which has mean’t spending money even when it hurts most. I can certainly understand the questioning looks we get when we suggest making what we consider critical investments at a time when our finances are in trouble but like Don Joseph we think we’ve got a great product in Kent that is worth investing in and our job it so make sure tomorrow is better than today. I’m sure Jeff Joseph wishes he didn’t have to spend money to stay competitive and so do we but that’s the reality of the businesses we’re in and that’s why I admire the business acumen and guts of Toyota’s local leadership.