In the early 1970s, a small group of volunteers started Powell’s first industrial park through a budding organization they named Target Powell Valley.

Over the next 40 years, the nonprofit’s dedicated volunteers furthered economic development in the Powell area by securing land, developing infrastructure and making lots available at a reasonable price to new or expanding businesses.

Last week, Target Powell Valley came to its final chapter — another sign of the national economic collapse’s ripple effect as it reaches our small community.

Lot sales lagged in recent years, leaving the nonprofit unable to maintain its land or pay off debt.

The bank that first fostered the growth of Target Powell Valley, First National Bank and Trust, agreed Friday to transfer the nonprofit’s assets in lieu of foreclosure.

While it’s good to know that vacant lots in business parks around town will continue to be available, it is sad to see Target Powell Valley come to an end.

The organization made a lasting impact on the Powell community over the past 40 years. One only has to look around the community to see the nonprofit’s legacy. From its first project, the old Pepsi building east of town, in 1971 to its final sale of property to J&R Well Service last year, Target Powell Valley encouraged widespread economic growth that helped make Powell the community it is today.