Let's take a simple look at the numbers and see how this plan actually plays out. Five thousand positions with $175,000,000 gives us a $35,000 salary available for each position. After the person is paid the $35,000 for one year, the money is gone. That leaves us NO money for concrete, NO money for steel, NO money for asphalt, no money for products of any kind. Not even enough for a shovel on a "shovel ready" project.
Now contrast a scheme like that with an actual project in the private sector. Alliant Energy was ready to dig with a real "shovel ready" project in Marshalltown. They planned to invest approximately $1,750,000,000 in a state of the art, clean-coal technology, power plant. That's right, $1.75 billion, almost exactly 10 times the amount the Senate Democrats want to borrow. With that $1.75 billion investment in Iowa, we would have had over 1,400 construction jobs and over 50 permanent jobs when the plant was up and running. In addition, as is normal in the private sector, that power plant would help in future business development as well.
A state of the art, clean-coal technology power plant with biofuel capability would allow any potential businesses coming to Iowa to build their business here with the assurance that low cost dependable electricity would be available both now and in the future. In addition, it was so cutting edge, that we could have boasted to the whole world, that our state was leading the way in clean energy.
Instead, the governor and Senate democrats decided to underdeliver in the private sector where jobs are really created and overpromise with a borrowing scheme that simply cannot deliver.
Houdini would be disappointed.
As always, I want to hear from you. My senate number is (515) 281-3371 and my home number is (515) 432-7327 or write me at: State Capitol, Des Moines, IA 50319 or at my home address: 1313 Quill Avenue, Boone, IA 50036 or email me at jerry.behn@legis.state.ia.us.
