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Defending the high-value approach June 27, 2006

Posted by Tom in Community, Economic Development.
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Kelly Lovell of the Center for Economic Growth in upstate New York offers a defense of her region’s public sector investment in luring a microchip production facility to the Albany area. In the process, she outlines how strategic economic development can positively affect the workforce and the larger community.

Tech Valley, and much of upstate, is at an economic crossroads. By choosing to make the investments necessary to compete and succeed globally, we position ourselves to reverse the exodus of companies and young people from our region. We stabilize and enhance our local tax base. We bring new jobs and new opportunity to a talented, eager workforce. And we begin to return the region to the national and international promise and prominence it once held.

Associating any reported incentive proposal solely with the jobs directly created does not begin to measure the broad and deep ripples and return these incentive investments will have. Fully understanding this impact is critical as we weigh the benefits of these investments on the future of Tech Valley.

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