Then the market spoke. Following approval from our Board of Supervisors, we floated new bonds to refinance existing debt and raise additional capital to continue investing in our infrastructure. The market’s response was immediate and positive. The result: we realized upfront savings of $3.4 million on servicing our current debt along with record low interest rates on the new capital we raised.
But the Township’s public investments aren’t alone. In fact, they’re really quite modest when compared to the private investment here during that same time. Last year, for instance, was a good year for new construction in Cranberry, with a total value of more than $84 million – one of our best years ever. So far this year, however, we’re significantly ahead of that pace in both commercial and residential construction. What it means is that the growth we’re seeing here is authentic – not some temporary spike driven by short-term government spending.
Then there’s employment. Last week, the U.S. Bureau of Labor Statistics identified Butler County as having the sixth highest job growth rate in the nation. Those same reports also showed Butler County with one of the lowest unemployment rates in the nation. And essentially all of that job growth occurred right here, in Cranberry Township.
So if the law of gravity hasn’t been repealed after all, what does this unexpected good news really mean? I think it’s fair to say that it validates the importance of doing things right. These sorts of surprising developments don’t just happen, particularly now. Instead, they are the direct result of a local government which has put aside the toxic paralysis of hyper-partisanship – the debilitating disease which has immobilized both Washington and Harrisburg – and which threatens much of the rest of the nation as well.
In its place, the Board’s decisions have governed by adhering to a vision for our community that was created through an extensive and inclusive collaborative process. That has been accompanied along with a detailed implementation plan which was specifically crafted to secure that vision.
Our Board members never took their eyes off the ball or allowed short term gains to overshadow the value of long-term benefits. They made the right decisions, even when they weren’t the most politically expedient ones. And that is exactly why great things are happening in Cranberry Township.
I welcome your comments and feedback on these thoughts by emailing me at, Jerry Andree