Most of you are aware of my concerns with Groton Town and School Budgets and the fact that, as citizens, we don’t have more direct control of tax increases and expenditures by having an annual Referendum.

The following letter-to-the-editor of the New London DAY on 7/12/15 by former Town Councilor Mick O’Beirne illustrates yet another aspect to the financial management problem.

Ed J

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The folly of economic development
Published July 12. 2015 12:01AM – New London DAY

Once again Groton leadership is genuflecting before the false god of economic development, “Groton hires assistant director of planning,” (July 2).

Consider: The cost of the Groton economic development (ED) study alone represents a year’s revenue from fully taxable new development worth about $10 million.

Groton has had professional ED staff specialists plus an ED Commission for many years. Have all of these been incompetent such that we have to hire an outside professional group to tell us about Groton?

New economic development means new construction. There are those of us who do not want a lot more clearing/paving/tarring in Groton.

New economic development requires new population to supply markets for the products of the new ED and workers to operate the new businesses. Where does this population increase come from and at what costs?

We have empty storefronts now. We have businesses on the margin which could be destroyed by new competition. What does new economic development do for these?

Finally the myth of reducing taxes; it would require $200 million of new taxable development without tax incentives and with no costs to the town to provide the new revenue to reduce town taxes by just 1 mil. Is this reasonable?

Mick O’Beirne

Mystic