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Editorial: Despite budget crunch, this loan seems OK Are the Oregon University System presidents watching the same budget fiasco in Salem the rest of us are? At first blush, higher education's request for $20 million in lottery bonds - suggested by the statewide Engineering Technology Industry Council - in the midst of a serious budget crunch seems reckless. Dig a little deeper and you discover that yes, the presidents are watching. Like most educators, officials are nervously wringing their hands with a watchful eye on each of the legislature's moves. Among their top worries is the ETIC funding, of which $600,000 would come to Southern Oregon University. ETIC is geared toward advancing Oregon's technological economy, and the schools are taking a multifaceted approach. SOU is trying to build a reputation in cybersecurity. These funds keep a budding public/private partnership progressing. Another $1 million would go to the Oregon Renewable Energy Center, run by the Oregon Institute of Technology. Both programs promote the entire region's viability. Despite the troubling economic times, sometimes you have to spend money to make it. Three things give credibility to this financial request: 1) It combines public money with private investment. Private businesses invest because in the long run, it's good for business, and they're far more willing to open their wallets when the state is paying its share. 2) The program is vital to the local economy, fostering growth in businesses that are environmentally friendly and less costly to the infrastructure. 3) The debt service on the bonds is a reasonable investment and consistent with past designated use of lottery funds. The high-tech industry will swing for the better at some point. When it does, ETIC will help bring business to Oregon. Students trained in the programs it oversees will have a leg up on finding jobs or starting businesses in the region. If the check is eventually written, it should not be without a high degree of accountability. The onus of making sure these funds provide a legitimate economic engine falls on the state, which must be diligent in its efforts. If the expected results do not materialize, future funding should be viewed more suspiciously. Investments in tough times demand greater accountability for those funds. Borrowing money in tough economic times doesn't often make sense. But when that money is matched by private investment and boosts an economic engine for the community, it's a decision that deserves serious consideration. Our local lawmakers say approval of the funds faces a tough battle. For the good of the region's economic future, we say it's a battle worth winning. LINKS: DAILY TIDINGS: Main | News | Sports | Obituaries | Opinion | Columnists | AP News | Subscribe | Archives | Weather | Classifieds | Contact Us | Privacy REVELS: Main | Calendar | Dining | Movies | T.V. OTHER: Road Cams Copyright 2003 Ashland Daily Tidings 541.482.3456. 1661 Siskiyou Blvd., Ashland, OR 97520. Ottaway Newspapers, Inc. - Advertisers -