[CPEO-MEF] Pease Development Authority [NH]: 25 Years

[Lenny Siegel <lsiegel@cpeo.org>]

25 years of economic growth at Pease

Editorial
Seacoast Online (NH)
June 7. 2015

Twenty five years ago this month, in June 1990, the New Hampshire  
Legislature and Gov. Judd Gregg established the Pease Development  
Authority.

The Pease Development Authority was created in response to the  
economic crisis caused by the closing of Pease Air Force Base. The  
base's closure occurred just as the entire nation was sliding into a  
deep recession caused, in part, by the collapse of the savings and  
loan industry and Iraq’s invasion of Kuwait, which drove up oil  
prices. Many locals believe that the recession of the early 1990s hit  
this region harder than the Great Recession from December 2007 to  
June 2009.

Today, Pease International Tradeport is home to nearly 300  
economically diverse businesses employing just under 10,000 workers.  
Another 4,000 people work outside the tradeport in support of those  
businesses. Total wages for these jobs are estimated at $700 million  
a year. Portsmouth’s unemployment rate, at just 3 percent, is the  
lowest in the state.

Pease has become the state and Seacoast region’s most productive  
engine for job creation, fulfilling the PDA's declaration of purpose  
"to promote, oversee, and integrate the development of Pease Air  
Force Base ... for the benefit of affected communities, the seacoast  
region, and the state and for the improvement of their welfare and  
prosperity, including the creation of employment and other business  
opportunities."


...

For the entire editorial, see
http://www.seacoastonline.com/article/20150607/NEWS/150609325/101050/ 
OPINION

--

Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org

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