About
Perspectives on the Adirondack Economy
Nationally, a great deal of attention is being given to the economy as it fights through the recession and we have seen the resultant ramifications on a state and local level. Locally, the Adirondack Park Assessment Report details the dire state of the region. Implicit, but not directly discussed, is what this means to Adirondack small businesses – the backbone of our economy. Ernest Hohmeyer starts this blog with discussion on the state of Adirondack small businesses today, key trends that may affect the region’s entrepreneurs tomorrow, and a call to action. Ernest has been involved with Adirondack community development for over 25 years (www.MountainCommunityVisions.com), created innovative federal, state and locally funded economic programs that resulted in several national and state awards and is a nationally certified economic finance professional and community planner – and has been involved in a family business for over 40 years.
A good direction for this blog would be to attract the involvement of small business owners in the Adirondack Park to discuss their problems and those areas where they can be helped. It seems so many, especially those in the tourist related trades, are unorganized or paddling upriver on their own. I have spent 9 years trying to get my small lodging facility over the bump in the road that seems to hold it back from flourishing. However, with all the pot holes we have here in the “Park” and the fact that most entities that could help have “red lined” our industry and location, it is essential to future growth “of any kind” that we begin to make use of what we have right here!
A large number of owners like myself came to the area for a lifestyle change. We weren’t looking to become overnight millionaires and we were in most cases, able to avoid being significantly debt ridden from the start.. However, as in almost any investment from time to time we must trade pride for success, bite the bullet and re-invest in the dream.
One positive aspect of the Adirondacks is that over the years it “did not” join in the uncontrolled economic boom that has crushed so many other areas. We had less distance to fall and are able to survive with less. Because of the economic advantage of being a less expensive vacation destination, we can benefit from the right kind of marketing and advertising. Instead of “build it, they will come” we need to address “fix it and they will come”!
After reading the updated mission statement from the AEDC, I am hoping that this and other agencies will more openly support the existing industry that is floundering.