Saturday, December 5, 2009

Economists agree MAPS 3 timing is perfect

Don't just take it from ME, some of Oklahoma's top experts on the economy are speaking out about the strong economic benefit of MAPS. It turns out, according to their calculations, that not only is the current bad economy not an issue, but it will also end up meaning that MAPS returns more on our investment this time.

Bob Dauffenbach, director of the Center for Economic and Management Research at the University of Oklahoma; Russell Evans, director of the Center for Applied Economic Research at Oklahoma State University; and Larkin Warner, professor emeritus at Oklahoma State University, all speak out for MAPS 3 in this press release.

The benefit of this timing, as opposed to waiting for a better economy, is this:

“The timing of MAPS is perfect,” said Evans. “We’ll get the projects done at a lower cost, and the return on economic activity in the city will be maximized because of the timing, not in spite of the timing. If the construction industry was highly active right now and we put more activity into it, we would end up with less quantity and higher prices. At this point in time, we will get more return on our investment of economic activity per dollar spent and at better prices.”

And obviously it should go without saying that doing MAPS 3 will position OKC for the strongest rebound when the economic climate goes back up. Communities that don't invest in economic development typically don't have as much economic growth. That's not a no-brainer.

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