When you want to make a change, grow in a certain direction say, sometimes you have to do something big. It can take a leap of faith, especially when it comes to financial investments. But that’s just what Peterborough voters did last week when they agreed to the town contracting an economic development specialist.
But not only did they approve the warrant article for an economic development director, they upped the appropriation from $48,000 to $70,000. That was a surprise to some.
Veteran Selectwoman Barbara Miller said it was the first time she’d seen a petition warrant article walk away with $20,000 more than it asked for.
From the town meeting floor, resident Bill Chatfield proposed the amendment to increase the funding for the position, and a majority of people in attendance agreed with the plan. There had been discussion about whether $48,000 would be enough to attract quality candidates.
The person who fills the position will, as the petition article reads, “support the Economic Development Authority in their efforts to promote business retention and new business development.”
As Miller has noted, the town had previously contracted Jack Dugan from the Monadnock Economic Development Corporation for assistance with economic development. So it’s not a new concept, but it’s bringing back something that has an associated cost at a time when towns are struggling to keep budgets lean.
It brings to mind the old adage, “You have to spend money to make money.”
Reducing commercial vacancy, website marketing, collaboration and networking are some of the tasks the EDA has in mind for the economic director, according to EDA member Jeanne Dietsch. “We think in two years we can make a lot of headway in getting that vacancy rate down,” she said in an interview last month.
It’s exciting to think about where some fresh ideas and leadership in the area of economic development might take the town. We hope the move will help jump-start activities that the town’s Office of Community Development will be able to continue beyond the life of the temporary position.
Voters could have balked at the expense of the position, and some did, but more of them decided it was time do something bold.