Wednesday, December 03, 2008

How Fort Wayne can benefit from the downturn

To be sure, Fort Wayne would be better off if the nation's economy were better off. We can't fix the US economy from where we're sitting, but here is how Fort Wayne can benefit:

1.Fort Wayne’s low cost of living will make this city attractive to those who have decreased earning potential.
2.Inflation will make municipal debt easier to pay off. This isn’t a reason to accrue more debt; it just mitigates previous mistakes.
3.The Internet is making geographic location less relevant. It’s impossible for an online company to be near to their customers, because their customers are everywhere. So a startup might just decide to go where they have the lowest costs. Having said that, a company building for the long term will want some reassurance that the land where their business is to be located won’t be seized on account that someone wants a new waterpark, casino, hotel, etc.
4.These external factors can be used as a face-saving pretext for canceling the proposed hotel. While I still maintain that the hotel would have been a bad idea even during an economic boom, the new contingencies should deter even the staunchest HS supporters from staying the course.


John said...

1.Fort Wayne’s low cost of living will make this city attractive to those who have decreased earning potential.

The only thing that costs less in Fort Wayne is housing. Everything else is pretty much on par with cities of similar size. That being said, there have to be attractive high-paying jobs that will give people a reason to relocate to Fort Wayne.

If you find any, let me know.

Robert Enders said...

When unemployment is high, any job at all is a reason to relocate to Fort Wayne.

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