Revitalization – Expense or Investment?

Let’s paint a couple of pictures on an economic canvas and then compare them.
First, let’s paint the picture of Presque Isle as it has looked for the past … oh, say … 10 years. The commercial activity on Main Street has been very limited. Several business fronts have lain vacant. Some empty buildings have steadily gone downhill, both in looks and in structure. There has been no movie theater and little to no increase in the number of businesses. Most of this painting is done in shades of gray.     It’s been a little over a year since the revitalization effort began. The movie theater is being brought back. Two new businesses have located on Main Street. And partnerships have been set up to improve the economic activity of the downtown.
So, let’s imagine what could be happening 10 years from now. There will be many more shops and stores on the street levels and businesses and apartments on the upper floors. Larger companies will even have offices on Main Street. People will flood the sidewalks, and anytime you go downtown, you’ll meet friends that you can stop and chat with. Goods and services will be closer to the center of Presque Isle and you’ll be able to find the things you need easily. This canvas is flooded with bold colors and exciting hues.
Why is the second painting so important to residents and existing businesses? The answer is two-fold.
First of all, as we re-energize Main Street, we will be welcoming new businesses. As a result, we’ll be “broadening the tax base.” That’s what people who understand economics call it. But, what it means to the rest of us is that there will be more people and businesses to share the tax burden. Revitalization will help to take the strain off individual taxpayers.
Here’s an example of how that works. Let’s say the budget for the city has been set at $10,000, and there are 10 taxpayers in town. The math is simple – they each must pay $1,000. But if there are 100 taxpayers in town, they only have to pay $100 apiece in taxes. A very simple way to look at it, but you get the idea.
Second, more businesses equals more work. More people will have jobs and will be able to earn a better living. When people work, they spend more. We then need more businesses and more services to meet these needs. That means other people get jobs, or retain jobs they already have. Now there is even more spending going on, and that creates a need for still more jobs. It also means that a wider variety of products and services is available. Now there are more reasons for people to live here, whether they’re natives or new to the area. In turn, these people will continue to spend their money here and ensure that businesses stay.
This snowball will have a dramatic effect on Presque Isle’s future.
A Presque Isle resident recently stated that he was not going to support an increase in city taxes in order to revitalize the downtown.
That was an understandable concern. However, taxes will not necessarily need to be raised for the revitalizing of Presque Isle. There are many other ways to fund our efforts – fund-raising, grants, etc.
Perhaps revitalizing Presque Isle’s downtown should be looked at, not as an expense – but as an investment. It’s an investment in the future of Presque Isle – and in each citizen’s future. It’s an investment in the economy of the city, which, if properly managed, can mean income, reasonable taxes for residents, as well as businesses, and more, improved services for everyone. More large businesses will want to locate here because of the lively economy, thus broadening the tax base even more. The revitalization of our downtown can mean a big improvement in the way people live.
The amount that the city has given to support the Presque Isle Downtown Revitalization Committee during the past year was only $14,500 – out of a $10 million budget. That represents one tenth of one percent of the total budget. That’s a small price to pay for an investment in Presque Isle’s future.
The combined efforts of the PIDRC, the City of Presque Isle, the Presque Isle Area Chamber of Commerce, local civic organizations, businesses and citizens are going to make a difference. They will make available a high level of services to help businesses, both existing and new, thrive in our downtown. As partners, we will be an integral part of the engine that drives Presque Isle’s economy in the near, and hopefully distant, future.
So, going back to our two pictures …
Wouldn’t you prefer the second picture? The colorful, happy one with an energetic Main Street, more and better businesses and services, a broader tax base to ease the tax burden, and a downtown that offers something for everyone?
You’re the one that benefits from that picture!
Question from last article: What business is currently located where the A&P grocery store used to be?  Star City IGA.
Next Question: What business is located where the Maine Potato Shippers Heater Service used to be located on Main Street?
We welcome your thoughts and opinions. It’s your city. We need your input in order to make it better. You can e-mail us at pidrc@yahoo.com or write us at: The Presque Isle Downtown Revitalization Committee, 411 Main St., Presque Isle, Maine 04769.
For more information about the PIDRC, e-mail us at pidrc@yahoo.com or call Sandy Gauvin (764-0876), Cathy Beaulieu at Wilder’s Jewelry Store (764-0309), or Patty LeBlanc (769-7731), or you can contact us at the address listed above.
We meet at the Presque Isle Area Chamber of Commerce on the Houlton Road at 7:30 a.m. on the first and third Thursdays of each month. Please join in our efforts to help our wonderful city.
The Presque Isle Downtown Revitalization Committee is an ad hoc committee of the Presque Isle City Council