Multiplier Effect

I know I mentioned this before, but it is worth mentioning again – specifically, the multiplier effect of economic development. If you can attract a major new industrial project, the benefits will be multiplied throughout the community.

An example of this can be found in south Texas. The San Antonio Economic Development Foundation recently earned CoreNet’s Economic Development Leadership & Accomplishment Award for its program to attract Toyota suppliers to the city.

The Toyota plant will employ 2,000 people directly at the facility. Because of attracting Toyota, San Antonio was able to attract 18 other suppliers to set up on site, who will collectively employ another 1,500 people revealing the significant incremental potential from the attraction of a large manufacturing project such as that.

In addition, these 3,500 new jobs are just the beginning. Another 3,000-5,000 jobs are created on top of these in other sectors such as retail, services, etc.

Wouldn’t you like to see one of these mega projects in New Brunswick? Well, if we diverted just 1/5 of the money we spend in one year on Employment Insurance, we could have one just like that.

Hope that makes you stop and think.

PS – On Private Health Care

I know this is not directly related to economic issues but I couldn’t resist. I am a big believer that folks who have the means should pay at least a little for health care – it would add some rigor and discipline to the system that isn’t currently there. But I did get a smile this weekend when the Federal health minister said he was going to force New Brunswick to pay for abortions in private clinics. I know that I must be missing something here but we can’t get an MRI in a private clinic if we pay for it ourselves but we must fund abortions in private clinics with public funds. Why are doctors not setting up private health care clinics en masse? If the Feds are saying that the government must pay for abortions in private clinics then logically and consistently all other health care services must also be funded if they are offered by private clinics.

That’s your daily chuckle – or at least mine.