The High Price of Bad Policy–Esau’s Porridge
September 28th, 2009 by Julia TaylorToday I attended a TRE (Transforming Economic Regions) Roundtable organized by the Land Grant Universities. Neil Noyes, President of the Virginia Tobacco Commission, riveted all of us with his incredible vision which is now a reality of transforming the textile mills, tobacco fields and coal mines of Virginia by investment of the State’s Tobacco Settlement Fund of $35 million in capital into 5 R&D facilities in energy opportunity fields–nuclear, carbon, composites and renewable energies. $100 million in grant match to incentivize research partnered with Virgina Commonwealth Institutions just rolled out a month ago and they are making their first $20 million investment. This is happening in the poor, rural communities of Virginia. They invested in infrastructure–the typical industrial parks, roads and water but also invested in two major fiber optics networks that span two large regional areas. There is no research university in either region which led to the formation of the 5 R&D facilities. Neil described this as based on inclusive networks that value collaboration, are responsive to private sector needs and are not passive but activist networks for change.
Remember what happened to Wisconsin’s Tobacco Settlement money? We took the Esau approach and sold our birthright for a quick budget fix bowl of porridge.