Interesting article in the Courant…

Deputy House Minority Leader William Hamzy said Wednesday that he and his colleagues from Bristol and Southington will make an all-out effort to get the money approved at the State Bond Commission’s meeting next month.

“This is one of the rare projects where a state investment will lead to an immediate private investment,” Hamzy said. “A lot of times, we do these public projects with the hope that they’ll develop some private activity. But this one’s different: We know $3.3 million will bring about $20 million.”

One of the questions I had (I thought the park was paying to move the road) was answered later in the article:

The park’s management wants to get the work under way so at least some new attractions can open in 2010. Hamzy said Lake Compounce has said it needs the state funding commitment in September, or will pursue the project on its own — but with a scaled-back expansion.

Looks like the state (more specifically the Governor’s office) is still debating releasing these funds. While the concept of assisting a private business expand in such difficult economic times on the surface rubs me the wrong way, this is different. When you peel back the layers the park has been a good partner for the state, brings in a lot of out of state traffic and as Rep. Frank Nicastro said in the article…the payback is not just a one time thing. Jobs, Sales Tax revenue, increased local tourism spending, etc….it really is a win-win for CT and the park.
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