I don’t mean to belabor the point, but I think I nailed it the other day when I said local government’s role as an economic developer is overrated.
Take yesterday’s news. First there’s the $26 million greenway, which the Greensboro City Council voted to support. That support comes a few days after Sue Polinsky’s column pitching the greenway as an economic development tool. (Sue wonders if her column helped the council make up their minds in the comments over at Wharton’s, who’s also happy about the greenway.)
At the same meeting, council member Robbie Perkins pitched the use of funds from a $10 million economic development bond to purchase the Canada Dry property in order to further leverage the Greensboro Coliseum as, well, an economic development tool. But fellow council Zack Matheny wanted to take a closer look at exactly what those bond funds should go toward. Remember, use of bond funds was an issue with Guilford County commissioners when they were pitched with an idea to use”open space” bond money to subsidize a local dairy farm. And don’t even get started on the school system’s use of bond funds. Matheny’s right to question use of bond money, and hopefully other council members will challenge Perkins on this issue.
Though the bonds on the upcoming ballot seem pretty specific, the lesson here is voters should be aware when presented with bonds “open space” and “economic development.” If you’re not sure what they’re going to be used for, chances are your elected officials don’t know, either. Another question is whether or not funding for lifestyle amenities is true economic development, especially in an area still reeling from the loss of manufacturing jobs. Local leaders seem to think so, given the greenway’s expense. Look, I’m not against greenways, but $26 million? Geez.
