Before leaving work last night I was reading in the Laconia Citizen about a bill that had passed the NH House of Representatives to "create a fund used for economic development to be managed by DRED." As I recall most of the Belknap County Delegation voted for this sans a few like the resigning Rep. Jane Cormier.
I hope that this bill gets killed in the Senate.
Here is an example and a project in 2007 that I really supported and believed would lead to many good jobs being created in addition to better prices for consumers.
These is a shot of the Bellows Falls, Vermont tunnel and a "public private partnership." to enlarge the tunnel to allow the railroad companies: New England Central, Vermont Rail System and Pan Am Railways to move double stack container cars through the tunnel. The railroads couldn't afford this capital construction so federal, state funds were used to make this happen. I support the very idea of this project.
Increased double stack container loads mean more goods moving from New York and the whole eastern seaboard to Canada I'd even envisioned using the deepwater port at Prince Rupert, British Columbia to expanded trade with China and the Pacific Rim. I'm not a great admirer of NAFTA and free trade with China but if it is the law of the land then let's make some money $$$$.
Well it's 2014 and I understand after spending all this money some $11.5 million of taxpayer finance. It's my understanding that there has only been an increase of 417 cars a month through the tunnel. I have as yet to find a single job that has been created because of this capital investment.
So let's go back to this proposed DRED managed fund used to create jobs that has passed the NH House. How can DRED manage a fund like this and not create favortism and preferential treatment? How can this possibly be successful? And create how many jobs?
I think it will be very similar to a tunnel in Bellows Falls. With no lights at the end.