True Visionary

“Within a five year period you will see the emergence of the ‘Ritz Carlton of Hunting Clubs.’ You’ll be able to go (to) any number of places to hunt. You’ll pay a $250,000 to $1 million upfront fee and some type of annual fee that will give you a combination of hunting and recreation. It will be another one of those roll up opportunities that Wall Street has done many times.” I was talking with Leland Speed, head of the Mississippi Development Authority (MDA), one of my favorite state ED people. I’ve written several times about Leland, who is one of the true visionaries that I love to talk to. He is a self-made man who started two public REITS and took the job as head of MDA a couple of years ago for $1 per year because of his love for his home state of MS.

He went on, “Let me give you an example of what is possible. Toxey Haas is in West Point, MS, a good ol’ boy from NE MS. He started Mossy Oak, a camouflage clothing company there in an old furniture store. Toxey told me, “Everyone thinks that I am in the camouflage business, but I’m really in the intellectual property business. We only design the clothes then have Russell make it for us.” Today he is the largest producer of hunting and fishing videos. He has 400 real estate franchises coast-to-coast that sell hunting and fishing land. He is today designing Mossy Oak communities that will allow you to buy a cabin and have access to a hunting area.” West Point is a town of 12,145 in NE MS.

Since I had that conversation with Leland in October I’ve been on the lookout for signs that this recreational land phenomenon is a major trend and continue to see it virtually every week. I was in Pike County, IL where brush ground that was worth $200/acre ten years ago is today worth more than $3,000/acre farmland. I’m observing it from pheasant lodges in SD to elk-hunting resorts in NM.

Keep your eye on this trend. It has the potential to transform small towns and regions that develop their niche and exploit their natural attributes.