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Do economic development projects live up to the hype?

All across the United States, communities continue to look for that big "economic development" project, and they often compete amongst themselves using incentives paid for by taxpayers.

The other day I was researching the ACE deal that recently took place in Loveland, and I ran across the following quote from a Century 21 real estate website: … "(the ACE project) means that the city is likely to experience fantastic growth in the coming years. As more businesses and residents move to the area, they’ll bring with them better amenities. All the investment in the area will ultimately mean an improved quality of life for everyone."

Similarly, when Aurora recently "won" the competition for a Western-themed hotel and entertainment complex, the Aurora mayor said, "There are great benefits this project can bring. It helps bring new people and new dollars into Colorado."

Linda Stanley, Ph.D.,

Full Story: http://www.coloradoan.com/article/20110711/COLUMNISTS13/107110314/Do-economic-development-projects-live-up-hype-?odyssey=mod|newswell|text|FRONTPAGE|s

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