Bad news is great Wednesday, Jan 23 2008
During the terms of former governor “Big Daddy” Foster many of us beat him up because he refused to travel, even in-state, to land any significant economic development projects.
During the term of former governor Kathleen Blanco many of us beat her up because she traveled worldwide, but failed to land any significant economic development projects.
It was simply a case of some of us not knowing what was best for us.
It is turns out that Foster and Blanco were visionaries who could see what a problem something such as a auto manufacturer plant might be for our state.
The vision
The visionary plans of our former governors, for the first time, has been revealed.
In a story in today’s Baton Rouge newspaper about a possible downturn in the national economy, Dr. Loren Scott dons his rose-colored glasses and points out the good news for Louisiana.
Professor Scott opines:
“If you were to lose your job tomorrow, or thought you were going to lose your job, what’s the last thing you’d think about buying?â€
This, Scott said, is why automobile and electronics manufacturing  and the cities dependent on them  tend to get hit the hardest. Think: Michigan.
Other than Shreveport, which has the state’s only automobile manufacturing facility, Louisiana is fairly safe on this count.
Had the two governors been successful in landing manufacturing plants, we’d be sitting around fretting about the potential loss of jobs. Not having gotten those jobs, we literally have nothing to lose
Professor Scott goes on:
Then, there is the recovery effort spurred by the 2005 hurricanes, which is pumping billions of dollars into the state economy independent of economic trends.
Scott said the federal GoZone program alone is responsible for $6 billion in investment in Baton Rouge and $18 billion in New Orleans.
“There is just a humongous pile of construction activity under way or planned for the next three years,†he said.
Instead of traditional economic development Governor Blanco brought of new form of economic development based on natural and man-made disasters. This is a cutting edge form of economic development not yet in even the most modern economic textbooks.
Genius not madness
I now see the method in what appeared to the uneducated eye saws as madness. The failed economic development efforts of our most recent governors was sheer genius.
Having been shown the silver lining in the dark cloud, I’ll be able to weather the economic downturn in fine style. It could have been much worse. If I had gotten a good-paying job at some manufacturing plant, I’d be sitting here fretting that I might lose my job. Fortunately, there was no job to get and potentially lose.
Further, I no longer fear man-made and natural disasters. They are the basis of Louisiana’s economy.
I feel much better now.
C.B.
Uncategorized 8:57 am




