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| Portsmouth's economy? |
In
Tidewater, cities compete against each other for jobs and investment.
Portsmouth-based
firms flee to Norfolk and Norfolk-based firms go to Virginia Beach.
Publicly,
city officials tell you that this isn't true, that there's an
agreement buried in a file, saying cities won't go after firms in
other cities.
Privately,
city officials tell you that, indeed, this is true, is well-known,
and often causes enmity between city staff and elected officials.
Competition
is local, not global.
In
Tidewater, economic development is a blend of brilliant marketing,
local city-sponsored programs, incentive packages and federal tax
credits. Some work, some don't and some disappear, only to be
replaced by other programs. Yet city officials and staff are
mesmerized by gaudy statistics and economic impact statements and
trendy and glossy strategies, more to boost their city's image than
to boost their city's economy.
A
city's economy is based on a firm foundation of jobs, investment and
tax revenue – a Norfolk Southern Corp., Portfolio Recovery or
Stihl, for example.
Yet cities are so desperate to get something, city officials chase after
supermarkets, fast-food franchises and mattress stores. Is this the best they can do?
Yet
you need the support of elected officials. If not, you have nothing.
If elected officials waste time on the trees instead of the forest,
cities will lose, residents will lose, neighborhoods lose – and
taxes go up up up.
In
the competition for jobs and investment, Portsmouth is losing. While
Portsmouth City Council fights, jobs and investment land in other
cities. City Council's track record is abysmal. Not one City Council
member is exempt from criticism. You are all in or you are all out,
and it appears that most of you are out.
Portsmouth's
elected officials should spend more time on the city's future rather
than on their own political future.
Announcements
and Closings of Firms
2010-2015
| Chesapeake | Norfolk | Portsmouth | Va Beach | |
| Jobs | 1,635 | 1,672 | 511 | 4,579 |
| Investment | $117M | $67M | $39M | $249M |
| Announcements | 37 | 15 | 13 | 99 |
| Closings** | -1,042 | -397 | -425 | -962 |
**Jobs
lost
Source:
Virginia Economic Development Partnership. Here's a definition
of announcements and closings.