Springfield, Massachusetts, the Bay State’s third largest city, suffered staggering manufacturing job loss over the last thirty years of the twentieth century. In 2004, the financial impact of job loss, coupled with dubious fiscal management, plunged the city into near bankruptcy. In response, state government passed legislation appointing a Finance Control Board to manage city business. Wage freezes for City workers were continued and cuts in numerous essential services occurred to deal with the debt. But the question remains, can a Control Board approach grow a large stock of well-paying jobs — large enough to grow the city’s and the Connecticut River Valley’s economies?
This article originally appeared in a 2005 issue of the New England Journal of Public Policy (Volume 20, Issue 2): http://scholarworks.umb.edu/nejpp/vol20/iss2. For this reprint, the author has prepared an update, which is included after the conclusion of the original article.
"Grinding Decline in Springfield: Is the Finance Control Board the Answer?,"
New England Journal of Public Policy: Vol. 24
, Article 9.
Available at: http://scholarworks.umb.edu/nejpp/vol24/iss1/9