Bowdoin College: The Magical Job Machine

Bowdoin College plays an exalted role in the life of Brunswick in seen and unseen ways.  The College's financial stature is pretty obvious, not to mention the aggregate wealth of the student families and the exceptionally well to do alumni base.


Which makes it a bit preposterous that the college needs a grant of $400,000 from taxpayers to "fund replacement of a 46 year-old oil-fired steam boiler with a new boiler and steam turbine generator, to create both heat and electric power for the college's central utility plant."  According to published reports, the grant is funded via the Federal Recovery Act and RGGI funds, yada, yada, yada.


Bowdoin College plays an exalted role in the life of Brunswick in seen and unseen ways.  The College's financial stature is pretty obvious, not to mention the aggregate wealth of the student families and the exceptionally well to do alumni base.

It's protected status as a "non-profit" means, however, that the role the college plays in Brunswick property taxes is negligible when compared to their very visible and grand assets.  It's clear that the college has abundant discretionary fiscal resources; witness construction of a new ice arena for $20 million or so to replace the one they had, and a similar amount spent to renovate their art museum.  I wouldn't be surprised if the college has spent $100 million or so on capital projects in the last 10 years.

Which makes it a bit preposterous that the college needs a grant of $400,000 from taxpayers to "fund replacement of a 46 year-old oil-fired steam boiler with a new boiler and steam turbine generator, to create both heat and electric power for the college's central utility plant."  According to published reports, the grant is funded via the Federal Recovery Act and RGGI funds, yada, yada, yada.

Given the very public and visible largess of the college, one could be excused for taking offense at their feeding from the public trough to tend to a rather minor yet extremely critical aspect of the college's infrastructure (and the precious students' comfort, we might add).  Shouldn't this worthy effort to save energy, save the environment, and otherwise live out its credo have risen at least to the level of a new ice arena in their own funding priorities?

One might even go so far as to call this "private college welfare," a close cousin of widely reviled "corporate welfare."  But these terms are like the others I've discussed in recent days; malleable enough to be invoked to disparage the other guy, but ever so crass when looking in the mirror.  Gubernatorial candidate John Richardson reminded us just a few months ago that giving a nearly free lunch to Oxford Aviation on BNAS is not "corporate welfare;" it's just the use of appropriate incentives and it's done everywhere.  OK, Mr. Speaker; than just WHAT is "corporate welfare," and its various cousins?

Gosh dang it, there I go again, getting bogged down in the petty little details of public policy and how the English language is shaped to fit the speaker's needs.  The really important part of this story is the massive job stimulus this $400,000 grant will provide to the area.  At least according to published reports.

A college VP says eight jobs will be retained in the first year, four within the first five years, and four long term.  I guess that's those famous "saved jobs" we've heard so much about.  But wait, there's more.  The same VP says the project will generate a statewide economic impact of nearly $4 million, wages of $1.5 million, and, are you ready for this....a total of 74 direct and indirect jobs!

That's one hell of a return on $400,000...that's right, 400 grand.  I read the story several times to make sure I had it right, and that's the way it reads.  That's enough to make me want to head on over to the campus and sign up for some classes in Political Economics and the Effective Use of Hyperbole.

But you know, now that I think of it, I can see why they've been spending all this money on what some might consider "luxuries."  Based on the figures from the new boiler, that new ice arena should have generated a statewide economic impact of $200 million, wages of $75 million, and, are you ready for this....a total of 3700 direct and indirect jobs!  And you can double those figures by adding the art museum in!

Holy leapin' polar bears, Batman! Who'd have guessed an Ivory Tower icon that eschews capitalism would extend its hands so deep into the business world?

Call Augusta, and tell them the employment problem is solved!