(2009-11-17) Morris Lexington Econ Dev

RobMorris, owner of Lowell's AutoMobile dealer, has Urban Development recommendations for Lexington Ky. Boosters assert that today's torn-up streets, empty blocks, disrupted commerce, and vast new facilities - often paid for with tens of millions of public dollars - will all be worth it... Someday. They hold out the vague and unmeasured promise of future visibility, prestige, tourists, businesses, investments, and commerce. In the meantime, they drain significant economic vitality from the city while pursuing future attention and dollars... If we look at "model" cities like Austin Tx, Madison Wi, Portland Or, and Pittsburgh Pa, we see a very different economic development model at work. In fact, these cities suggest that the old booster model has it exactly backwards: Those cities invest in growth at home first, then outsider attraction follows.