Hello everyone,
The passing of former Gov. Pete duPont at age 86 was followed by condolences from the state’s two U.S. senators and the governor.
We also received a reminder of how quickly memories fade.
Well into this week was seemed to be little or no official response to duPont’s passing from legislative or party leaders.
Granted, it has been a half-century since duPont became what many consider to be the state’s greatest governor.
When duPont took office, Delaware was a mess with an astronomically high income tax rate, a failed state-owned bank, and government spending more than it took in. Tax hikes were viewed as the answer.
The Republican chief executive, while holding profoundly conservative views, governed from the center and pushed through reforms that included the Delaware Financial Advisory Council (DEFAC) and the Delaware Development Office.
DEFAC is comprised of government officials and state leaders who monitor financial projections that are used to craft state budgets that kept the state out of Illinois-style crises.
He will be best remembered for the passage of the Financial Center Development, Act, which took caps off of bank interest rates and helped bring tens of thousands of jobs to the state.
Despite predictions from the gloom and doomers that jobs would go elsewhere, the FCDA helped create a talented, versatile workforce.
Shortly after my arrival in Delaware three decades ago, I received a quick education on Gov. duPont’s impact on the state.
As editor of The Delaware Business Review, I reported on a roundtable discussion with some of the key players in the state’s turnaround. The event was organized by Frank Fantini, publisher of DBR.
The lessons learned that day helped me understand the delicate nature of the state’s economy and the need to nurture a competitive business environment.
The Pete duPont Freedom Foundation summed it up best over the weekend:
“Beyond these specific accomplishments, Pete demonstrated that goodwill, humor, and a genuine sense of neighborliness, coupled with a clear vision, can transform a state. Those values are in short supply these days, making Pete du Pont’s passing yet more noteworthy.”
There are others promoting versions of his vision that sees individuals, families, and businesses doing a better job than the government in creating and retaining jobs.
But all too often bread and butter issues have been replaced by other priorities at Legislative Hall and elsewhere.
Social justice is the overriding theme for some Democrats while Republicans respond with their own wedge issues that include opposition to common-sense gun regulations, while touting a series of proposed voter bills that amount to grandstanding over virtually non-existent problems.
Finding innovative ways to create and preserve jobs seems to be an afterthought.
Luckily, much of Pete’s legacy remains. It’s time to make sure his achievements do not fall victim to flavor of the month issues. – Doug Rainey, chief content officer.
