The best way to view investment in our economic future is the fostering of an infant industry. We should not simply put good money after bad just to temporarily stem the flood of rural flight. Rather, we should plant the seeds for a prosperous private sector, mostly on the backs of small- and medium-sized business.
At the same time, we must build those things that may have played no role in attracting us, but will play a role in attracting our children. A first-rate historic Strand Theater, a river walk, a celebration of Adirondack and Lake Champlain history, and a recognition of our region from tourist eyes are the types of investment that may be icing on the cake.
Yes, our council once again created the well-rounded and inclusive plan that beat out all others. And it may have made the difference for our economic future.
Colin Read contributes to Bloomberg.com and has published eight books with MacMillan Palgrave Press. He chairs the Department of Finance and Economics at SUNY Plattsburgh.