$466 Million in Redevelopment -- And Not One New Job
NEW YORK, NY - DECEMBER 03: Few jobs are listed on a board at a career training center operated by the New York Department of Labor in Harlem on December 3, 2010 in New York City. The US Labor Department announced on Friday a gain of 39,000 nonfarm jobs in November, raising the unemployment rate to 9.8 percent and a seven-month high. This is just a third of what economists had been predicting. (Photo by Spencer Platt/Getty Images)
Wednesday, Jul 6, 2011 Updated at 11:53 AM PDT
That's the recent record of the redevelopment agency in the Southern California city of Fontana, according to the city's own filings with the state.
The statistic was unearthed by Jim Miller of The Press-Enterprise for a terrific story that looks at the jobs local redevelopment agencies produced -- and didn't produce. Gov. Brown's proposal to eliminate the agencies -- and instead give local voters the ability to raise taxes for economic development -- is perhaps the most hotly contested front of the current budget battle.
The story raises the question: why is so much money going to redevelopment if it doesn't produce jobs?