By Neal Boling
News Director | News Channel 11
Published: July 17, 2009

BY BOB STUART

Media General News Service

Peter Harris has seen critical junctures before.

The businessman arrived at one six years ago with his Staunton company facing global competition in the production of industrial blades.

“We refocused and strategically became a medical device and diagnostics company,‘’ Harris, president and CEO of Cadence, Inc., said Thursday.

The result: Sales at Cadence soared from $9 million to $30 million to $35 million, with only 20 percent coming from industrial blades sales.

Cadence employs 230 companywide, including 120 in Virginia.

Harris’ small business is the model for the kind of job creation politicians at the top and bottom of both gubernatorial tickets say is needed to revive Virginia’s stalled economy.

Sounding on a popular Republican theme, Democratic lieutenant governor candidate Jody Wagner said during a Waynesboro stop small businesses need less regulation and more seed capital to get off the ground. Those businesses, she said, provide most of the jobs.

Republican Lt. Gov. Bill Bolling wants to cut regulation and offer $1,000 tax credits to all businesses for each of the 50 new jobs they create or 25 new jobs in distressed areas.

Harris said less regulation and less taxes will help small business more than any other government policy.

“By keeping regulations down and taxes low businesses will thrive. Americans are the most productive and ingenious people on the planet,‘’ he said.

Harris said the key to Cadence’s survival is to constantly evolve, and not assume things will always stay good.

Amanda Huffman, the city of Staunton’s assistant economic development director, said small business development is becoming an increasingly important part of that department’s strategy.

Huffman said small businesses create local jobs and tend to keep their money in the community and be more philanthropic.

“They support the United Way and local sports,‘’ she said.

Huffman said Staunton is focused on attracting a wide variety of businesses from manufacturing to distribution, retail, commercial and office.

Bob Stuart is a staff writer for The News Virginian in Waynesboro, Va.