Meet Dr. Felecia Herndon, Director of Finance and Strategic Initiatives at Marshall Economic Development

Dr. Felecia Herndon, a Certified Economic Developer with over 15 years of experience, joined Marshall Economic Development in October as the Director of Finance and Strategic Initiatives. Herndon brings considerable expertise in managing incentive programs and program compliance to Marshall. She previously served as the Chief Operating Officer of the Tyler Economic Development Council.

Joining Marshall Economic Development

In March 2024, Herndon served as a panelist at the Economic Summit in Marshall and met students participating in a leadership forum. She left very impressed by the program. After learning more about Marshall Economic Development and its goals through discussions with Rush Harris, Executive Director, the role Herndon could fill at the organization took shape. 

“Rush has a holistic, inclusive approach to economic development,” Herndon said. “It heavily favors partnerships, collaboration, and individuals working together. He’s very team-focused, and it was enough to sell me as the new position is in line with what I have been doing for the last 10 years.”

Part of her job involves using her background and expertise to become a resource for the City of Marshall, Harrison County, and Harrison Central Appraisal District as they promote their economic development programs and initiatives.

Effective program management

Effective prioritization and management of opportunities is essential in economic development. Herndon has worked with incentive programs for over 10 years and knows the value of strategic planning for specific areas and how to manage available resources. 

“What I believe I can bring to Marshall Economic Development, and through them out to local government, is a structured way of utilizing economic development tools to target specific areas of focus: development, redevelopment, and the retention and attraction of jobs,” Herndon said. 

She also identified program compliance as both a strategic focus and a way to demonstrate the efficacy of economic development programs to the state, local governments, and citizens. 

“If you ask 10 people how economic development works, you’ll probably get 10 different definitions,” Herndon explained. “But when people see our organization helping the city and the county with accurate reporting and compliance, it lends to our credibility and also our ability to effectively run these types of programs. I want there to be tangible results we can show for our organization. These are the number of jobs created. This is the amount of new investment. These are the local companies helped, and these are the entrepreneur programs we’ve assisted with. Those are tangible things people can see.”

Background in economic development

Herndon’s expertise in program and project management is well-established, but it started small with an executive assistant job at Tyler Economic Development. A desire to take on more responsibilities led to receiving additional economic development training. Eventually, her career transitioned into human resources and career and technical education before she returned to Tyler. Her financial management experience includes revolving loan fund programs, State of Texas enterprise projects, tax abatement, and tax increment financing programs.

Herndon is a Certified Economic Developer (CEcD), a certified Economic Development Professional (EDFP), and a Professional Community and Economic Developer (PCED). She holds a Bachelor of Science in Business Management, a Master of Business Administration with a focus on corporate finance, and a doctorate in Business Administration with a specialization in finance.

“Felecia has over 15 years of professional experience in economic development finance.  We are ecstatic to have her join us and bring those skills to Marshall.  She also fits our team model for collaborating across entities, building programs focused on long-term impacts, and strengthening foundations of our economy to help all citizens,” Harris said. 

Getting started in Marshall

Herndon’s strategic skills and developmental expertise are crucial as she spearheads crafting a comprehensive strategic plan for Marshall Economic Development Corporation. She is also identifying community revitalization and development efforts able to benefit from established programs. Early successes will create a foundation for other programs.

“We need to identify those things, put a name on them, and say how we’re going to do them, the timeline, and the individuals who are responsible,” Herndon outlined. “I developed a work program our organization can follow which identifies the goals we want to attain, and it is the footprint for the more comprehensive strategic plan that would align with the city’s strategic plan.”

An adjacent project is creating an economic development guide outlining various tools and resources and how to use them. The target audience is businesses and individuals unaware of existing opportunities. Herndon hopes both efforts start a conversation with local entities regarding the support Marshall Economic Development is here to provide. 

To learn more about Marshall Economic Development, read the latest news and updates here.