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Highlands Today

Flat Local Economy Traced To Busted Housing Market

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Highlands Today Staff

Published: September 9, 2007

Imagine trying to trim a billion dollars out of the budget. That might not seem like too much if you're talking about the federal budget, but it's Florida's budget, and that's a problem. So how do you do it? Obviously you start cutting. But what about spending money? That's what Gov. Charlie Crist wants to do, and we think he's on to something.

Just about everything is on the table for proposed cuts, although Crist has said education would not be touched. He has, however, said that state reserves should be used to start major infrastructure construction projects such as roads and schools to invigorate the construction business. By doing this, he says, it will kick-start the state's economy.

We're not sure how that would work on the state level, but there's no doubt that the flat housing market in Highlands County is having a massive negative effect on those of us living here. With no major manufacturing plant that employs a huge number of people here, construction and all of its offshoots drives this area's economy, along with citrus.

Most businesses in Highlands County are feeling the pinch of the down-turned housing market. Everything from home accessories to home improvements to grocery stores feel the pinch. The trickle down throughout the economy is being felt, as fewer people are in positions to buy goods, which includes services such as restaurants.

The projects Crist is talking about deal with big toll-road construction in major metro areas. Other projects might have a side benefit for this area, but nothing like we need to make a big difference.

We all want our state's budget trimmed, and the entire economy to strengthen. It's in all of our best interest. More importantly, we need our local economy to turn around and soon. We need house buyers to start snapping up the many good deals that are out there. We also need local construction firms to have plenty of work for many years to come.

Besides the jobs, our public entities need the tax revenue they produce to provide the services that so many people depend upon. So no matter how you look at it, and whether you want growth or not, we clearly need an economic shot in the arm. Let's hope the governor's plan will provide that for us, as well as the rest of the state.

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