"The development business is a pretty simple one," he said.

"I would make the assumption that a lot of that is coming from people interested in development business," he said.

Although he has made a lot of money, few in the real estate and development business hold him in high regard, some said.

Daniel moved to Florida to start his own development business.

"Columbia has made it clear that from now until January they're not in the development business," one agent said.

Whether such tax credits truly make a difference is a matter of debate among economists and people in the economic development business.

It may be that the doctor is likely to send a portion of earnings back home (known in the development business as "remittances").

Mr. Scott, 51, joined in 1973 and built the firm's development business.

"In the development business," he said, "it would be really good to get away from the need to have people promising miracles."

Following his defeat, Ward planned to return to his real estate and development business.