Vincent Safuto’s Weblog

Notes and observations

Another economic development scam falls apart

When times are tough and you have millions in grant money sitting around for economic development, it’s easy to fall for the lure of the economic development con man.

He rolls into town and promises everything to everybody.

Want jobs? You’ll have them.

Need a tenant? I’ll sign a long-term lease.

Got cash to give to me? I’ll take a check.

I don’t seem to have enough cash to get started? Fear not, I have investors in Minnesota, oh, I mean, investors in Singapore, or maybe it’s Albania?, whose identity I can’t disclose who’ll lend me $20 million.

You insist that I meet your requirements before you disburse the money? Oh, if you want to be “that way” about it, I’ll still do the deal.

I think the word is getting out about the Bradenton Area Economic Development Corporation, and it’s that they’re the biggest bunch of suckers since that lollipop truck overturned on I-75.

Sharon Hillstrom, CEO of the EDC, gushed like mad over the wonders that Major League Football would bring to the area. As I mentioned before, and before, and before, this bankrupt pseudo-football league is run by people who are adept at making economic development jumps to different parts of the country, making wild and vague promises, and then walking away, leaving vendors and lenders in a pinch and seeking legal relief.

It was hardly a surprise when the league, after holding tryouts, canceled its inaugural season and then announced that it was all part of the big strategy, and then this past week it was revealed that the league has been living “on the arm” at Lakewood Ranch, and the landlord decided to make a move and file eviction papers.

(You can follow the story at the newspaper where I work, the Bradenton Herald.)

The Bradenton EDC managed to avoid being taken in the Sanborn Studios scam, but remember that they fell for the Gulf Coast Swords hockey team deal, the rowing competition and now Major League Football.

What’s next? Cat racing?

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June 25, 2016 Posted by | Living in the modern age, The business of sports | , , , , | Leave a comment