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THE COLUMBUS COMEBACK


OHIO'S CAPITAL MOVED BEYOND PARTISANSHIP TO BECOME A MODEL FOR ECONOMIC GROWTH

By Rana Foroohar Monday, Oct. 08, 2012
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Illustration by Harry Campbell for TIME



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If you ever wonder what kind of economic development might be accomplished in
this country with more bipartisan cooperation, consider Columbus, Ohio. This
low-key, Middle American metropolis of about 800,000 is becoming something of a
celebrity city, talked up in a recent New York Times Magazine piece on the
success of Ohio and visited more than a dozen times by presidential and
vice-presidential candidates. No wonder. After taking a dive during the
recession, Columbus has roared back, with the metro area creating more new jobs
than any other city in Ohio over the past two years. In many ways, it's a model
for what an economy can do when you admit that growth isn't about tax cuts and
austerity but about both streamlining government and investing public money in
the right things.

Some of Columbus' success is based on its diversified economy. As the state
capital and home to institutions like Ohio State University, it has a large
government and public-education sector, though not dramatically so--12.4% of the
local economy vs. 11.5% for Ohio as a whole. Its relatively low cost of living,
central location (its inland port makes it a logistical hub) and steady supply
of talent from 18 nearby colleges, including many community colleges, helps too.
The city has a robust manufacturing sector including Honda and Worthington
Industries but also big retail and financial-services sectors: JPMorgan Chase
actually employs more people there than in New York City.

For all these reasons, Columbus didn't fall quite as far off a cliff as the rest
of the state did after the financial crisis. But what really sets it apart are
the steps it has taken since. In 2009, Mayor Michael Coleman, a Democrat who has
since been re-elected to a fourth term, was faced with chopping roughly $100
million in municipal spending--more than 15% of the total operating budget--to
balance it as required by city statute. The mayor started with back-office cuts
and moved on to mandatory furloughs, reduced trash pickup and the closure of 12
recreation centers. He persuaded thousands of public servants to forgo raises.
He trimmed pensions.

It wasn't enough. By mid-2009, "things were getting worse, not better," says
Coleman. "We were at a crossroads. If I cut more, we were going to have to lay
off 1,100 public workers, including firefighters and police, and really
compromise city safety. I'd also be contributing to unemployment." It was time,
says the mayor, to "ask ourselves, What kind of city did we want to be?"

Coleman went to the city's business leaders--a mostly conservative group
including major Republican donor Leslie Wexner, founder of Limited Brands--and
asked them to support an income tax increase, the first in 27 years. They agreed
and helped finance a successful protax ballot campaign, in large part because
they believed the mayor had already proved his austerity chops and because he
vowed to put a third of the tax hike into development. The plan: give businesses
money to retrain workers, pour money into new infrastructure, improve the
housing stock and redevelop the city's downtown and riverfront to attract more
knowledge workers. "Communities are either moving forward or backward right now,
with very little in between," says Wexner. "We chose to strategically invest in
our future at a very critical time, and the results are paying off."

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