Wednesday, January 9, 2008

LED balloon

It must be a good thing that the London Economic Development Corp. (LEDC) restructured itself to avoid duplication of services with other local business agencies… otherwise there would be no telling just how much larger its request for a 32 per cent budget increase from the City would have been this year. Councillors pondering the request will have to consider whether the LEDC's starvation budget of $1.86 million has been responsible for London's 17th place ranking in a 2006 survey of economic activity in 25 Canadian cities, and its "C" grade for economic indicators in the Conference Board of Canada's recent survey of 27 Canadian cities.

Or perhaps they might feel that raising taxes to invest even more in a chummy club of local techno-bureaucratic dependants who produce feel-good economic plans long on buzzwords, subsidy economic dogma and appealing targets but short on any specific strategies except their own budget requirements, will magically attract economic development. Hey, as long as we're paying them to say what we want to hear…

See also:

London high-tech plan to create phoney-baloney jobs

and

Losing economic opportunities by Kim Ainslie

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