Vail Valley Voices: Glimmers of a new economy
Vail, CO, Colorado
Editor’s note: The following is an excerpt from the Vail Homeowners Association monthly report for October. We publish weekly excerpts from the association, which keeps a close eye on economic and political trends in and outside of the town. The newsletter’s electronic version with links to supporting documents is avail?able at http://www.vailhomeowners.com.
Vail and the surrounding communities are being swept along in the rapidly changing currents of the economic times.
There are glimmers that a new, more global perspective and energy efficient future may be taking hold. Opportunities abound in Vail and its suburban communities.
However, local economic reforms are necessary before progress can take hold.
Evolving new realities, with complex roots, are putting the community and its governments under the most demanding economic stress they have encountered in the last 50 years.
There are those who see outdated economic development strategies proving to be moribund.
They reckon that to continue to follow these expiring strategies would only bring stagnation for the local economy.
It is observed that some town leaders are persisting in attempts to breathe life back into the community when its business model is showing signs of being broken.
These leaders, many tied to the less than sober growth policies of the boomer era, are readying to push forward with significant millions of dollars in public capital expenditures.
Some are hopeful it will jump start development with massive public investment.
These actions, critics are saying, could have the unintended consequences of depriving the community of badly needed resources necessary to give aggressive response in a rapidly changing global economy.
Some critics caution that there are those who would take tactical advantage by causing Vail’s municipal government to swallow a “poison pill” that would precipitously draw down its remaining financial resources.
Local businesses are increasingly turning to the local government for even greater subsidies.
Drawing down the public financial reserves too early and for the wrong reasons, benefits those who would gain from the demise of the many local small businesses.
Many continue their struggle to keep the doors open.
There are investment opportunities in local businesses.