Monday, January 12, 2015

A Cold Dose of Reality for Utica-Rome ...

The Guest Editorial by Dr. Anthony Vennero in the Utica OD over the weekend, "Nanotech center might not be our economic panacea," should be a cold and bracing dose of reality to all of our regional leaders, both elected and non-elected.

In a nutshell, Dr. Vennero cites numbers from the Bureau of Labor Statistics to show that even if the rosy projections of job growth from nano are met, they will not even bring the region back to the number of jobs held in 2009! Worse, Dr. Vennero describes the formidable competition our region has in the nanotech field, suggesting that the promise of virtually guaranteed (taxpayer-subsidized) jobs may be empty. Additionally, Dr. Vennero cites demographic information to show that our population downtrend, with negative economic consequences, will continue.

None of this is new to long-time readers of this blog as similar things have been said here for many years. What is new is that we now read about this in the local media.

Perhaps this is because the regional elite know that the situation has become so dire that it can no longer be hidden, and they wish to prepare us for the worst.

Now . . . What should be done with this information? 


Anonymous said...

I don't think the loosely-called "elite" will ever admit they were dishonest and have wasted millions.
Strike you give the "leaders" far too much credit.
They're still riding the fake nano hog until she drops.

Rodger Potocki said...

The entire nanotech concept has been oversold from the outset. The only project that is somewhat real is the Marcy, taxpayer built center that at best will generate 1500 jobs by the State's own estimate. That would simply be an okay accomplishment if it happens. It will not under any circumstance be a game changer for the area as Vennero correctly points out. As with other, "build it and they will come" efforts financed with taxpayer dollars, this one also received the usual hype from the usual suspects. Many people, including some very smart ones I personally know, thought that the project being hyped was actually the 5,000 job chip plant that the EDGE has chased for over 10 years. Nanotech is not "faked"; it has been oversold to the hilt. What is worse is an interesting question.

Anonymous said...

Why no comment from Gov. Cuomo's favorite local cabana boy Tony Picente on this? He got his payoff yesterday by being put on the Public Disservice Authority.By the way is this a paid position or per diem pay when on their business?

Anonymous said...

The problem and solution goes to the heart of our failed politics including who we elect. We elect, time and time again, people who support and promote high taxes and more regulation. In turn, we rely on government spending to revitalize our economy. It is a self destructive path we have created for ourselves and I it seems impossible to alter here. The hole we have put ourselves in is simply too large. Fracking was a potential major change and we said no. Well enjoy the scenery.

Anonymous said...

The citizens of Oneida County are all addicts. For the most part we are addicted to more government as the answer to everything that is wrong with this county and NYS. We are in denial that the government is the source of our problems and not the cure.