A racino isn’t economic development

Other than the wages it pays and the services it consumes- a racino isn’t anything other than a way for the state to steal poor people’s money. Compare the economic output of a racino- with the factory it replaced and you start to see where we are headed.

Tomorrow at 6:30 p.m. the Dayton Unit of the NAACP is having a forum on “economic development” at the Dayton Boys Academy, just West of the intersection of James H McGee and W. Third Street. Our mayor, Nan “the demolisher” Whaley is one of the speakers. Having her talk about “economic development” is akin to asking Hannibal Lecter to speak on the benefits of organ donation.

Other speakers include:

  • Catherine Crosby, executive director of the City of Dayton Human Relations Council
  • Richard L. Wright, executive director of Parity Inc.
  • John A. Lumpkin, vice president of Wealth Management, and financial advisor for Morgan Stanley
  • Silvia Anderson, manager of Workforce Services for OhioMeansJobs Montgomery County.

The moderator will be Chris Shaw, chair of the Dayton Unit NAACP Economic Development Committee

“The Dayton Unit NAACP is highly concerned about the lack of Employment Opportunities to include city, county and state highway construction jobs; small business development to include retail outlets, restaurants and service facilities; and the lack of franchise businesses which are so prevalent in other areas of the region, said Derrick L. Foward, president of the Dayton Unit NAACP. We look forward to hearing the great things these leaders are accomplishing from an Economic Development standpoint in Dayton proper, said Foward. “The Citizens of Dayton are counting on you in a BIG way to enhance their quality of life.

“The Economic Development Committee is concerned about jobs, business development and wealth building,” said Shaw. “While we know issues and opportunities exist, by bringing together community stakeholders, we will be able to update the residents of Dayton on collaborative efforts to further these goals. We look forward to community participation,” said Shaw.

via (4) Dayton Unit NAACP.

I’m wondering what “Great things these leaders are accomplishing” too- especially, since business and government keep getting confused. Not a single developer invited. Nothing against my friend Mr. Lumpkin, but, he’s a former banker and now a financial adviser, not a business owner or a developer.

“Economic development” is code for taking taxpayers’ money and spending it where no one else will, or where politicians get kickbacks.

The real question is why businesses don’t thrive in Dayton- well except for CareSource- a tax-funded middleman where the CEO makes millions a year doing what a government employee would never get paid more than $185K a year for.

We could talk about the extra money a small business has to spend on security glass, alarm systems, video surveillance, guards and higher insurance premiums because of the vacant homes, crime and disinvestment. Our police force is half of what it once was, yet the city is the same size.

We could talk about how the city cites homeowners for tall grass- while only cutting public parks 3x a year. Or how there are bushes growing through the cracks of basketball courts across the city, while developers who didn’t do their homework get handed a $1.25 million demolition for free. That’s 1.25 million that wasn’t spent on delivering services to the people that pay for them.

Back to the racino. Because the state guarantees a return on the slot machines, investors had no problem putting millions into building a legalized theft business. No tax breaks, no abatement, no grants. No other businesses, except health care and banking in this country are as free to operate knowing they will get paid no matter what. Other businesses all have to weigh their risk vs. return. In most of Dayton, the perceived risk outweighs its return.

If you want investment and jobs, look around at your neighborhoods- the boarded up homes, the weeds in the streets, the potholes, the broken curbs, the knocked down street lights in the center of U.S. 35 W that never got replaced and ask, why are we so lacking in government services despite paying the second highest income tax in the area?

The answer, unfortunately, is our government started concentrating on “economic development” and forgot about the fundamental premise of running a city properly.

 

 

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