“What are you looking for?,” asks a man seeing his friend frantically searching for something under a street light.
“My car keys,” comes the response.
The friend, offering to help says, “Where did you loose them?”
“Over there,” the response.
To which the friend, logically replies, “Then why are you looking for them here?”
“Because, the light is better here!”
“My car keys,” comes the response.
The friend, offering to help says, “Where did you loose them?”
“Over there,” the response.
To which the friend, logically replies, “Then why are you looking for them here?”
“Because, the light is better here!”
Great Gains are Indeed Possible
In Part 1 of this Blog we noted that the Endowment and North Star Renewable Energy had intentionally decided to look at Jefferson County, Georgia, as the site of a national trial for a new ownership model for a domestic, green energy facility. We did so, not because the light was better in Jefferson County, but because it is a place where we think a sound investment can make a real difference.
In Part 1 of this Blog we noted that the Endowment and North Star Renewable Energy had intentionally decided to look at Jefferson County, Georgia, as the site of a national trial for a new ownership model for a domestic, green energy facility. We did so, not because the light was better in Jefferson County, but because it is a place where we think a sound investment can make a real difference.
With high unemployment and a much greater than average proportion of families living in poverty, even the planned 25 direct jobs that will provide family-supporting wages offer great hope to a significant number of families. Add that to wages that will circulate in the community – both from direct and perhaps 50-75 indirect jobs -- to the taxes that will be paid, and to the millions that will be spent annually for woody biomass and other supplies needed for the facility, and the gains begin to mount.
But, our plan goes even farther. Yes, sawmills and landowners will have additional markets for low-value wood, allowing them to enhance management and productivity of their forests, But we also plan to take up-to 40% of the profits that will be derived from the facility – the Endowment’s ownership via “Community Wealth through Forestry, Inc” (a wholly-owned subsidiary) – and plow them right back into the community.
Generating Assets that will Grow in and with the Community
Therein lies the potential of a national model. Most current private-sector businesses, take the majority of the wealth created and “export” them to their home location. In this case, under the planned joint-venture model, the facility will have deep roots that will ultimately be “owned” in some form by the community. One would expect those dollars to circulate many times within the local economy and help craft a future Jefferson County that exceeds national averages in new, and more positive, ways.
Carlton N. Owen
Therein lies the potential of a national model. Most current private-sector businesses, take the majority of the wealth created and “export” them to their home location. In this case, under the planned joint-venture model, the facility will have deep roots that will ultimately be “owned” in some form by the community. One would expect those dollars to circulate many times within the local economy and help craft a future Jefferson County that exceeds national averages in new, and more positive, ways.
Carlton N. Owen
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