<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=192888919167017&amp;ev=PageView&amp;noscript=1">
Wednesday,  May 1 , 2024

Linkedin Pinterest
News / Opinion / Columns

Jayne: Where will we grow our next generation of giants?

By Greg Jayne, Columbian Opinion Page Editor
Published: May 16, 2015, 5:00pm

The question, really, is where the next generation of giants will come from.

When Ed Lynch died recently at the age of 94, The Columbian editorially eulogized him as a giant of the community. After all, he had donated millions of dollars over the years to various causes. He had earned the honor of having his name attached to numerous projects throughout the city. He had worked tirelessly to improve the community — simply because it was his home. As his son, Michael, was quoted as saying, “He hopes his life was an example for people to help others as they were able. … He wants his actions remembered, and people to make their home a better place.”

In short, Lynch — along with his wife, Dollie, who died in 2010 — was the kind of person who left his footprint on a community. Unfortunately for the rest of us, there aren’t many of those left.

You see, as The Columbian wrote in reporting news of Lynch’s death: “The Lynches were part of a generation of local residents who made fortunes in business, then spent their retirement spending their money for the betterment of the community. Others in that group included banker E.W. ‘Ed’ Firstenburg, restaurateur George Propstra, and barge line owner Ray Hickey.”

If you don’t know those names, then you haven’t spent much time driving around town. Plenty of buildings and parks and community centers are emblazoned with them.

Lynch made his money as president of Kiewit Pacific, a Vancouver-based subsidiary of one of the world’s largest construction contractors. He then spent that money on community projects he deemed worthy — most recently helping the Fort Vancouver National Trust to purchase and preserve The Academy building downtown.

Firstenburg made his money as founder of First Independent Bank. Propstra developed Burgerville into a regional favorite. Hickey owned Tidewater Barge Lines. Each of them then used their wealth to enrich the community.

And it is in pondering the nature of those businesses that you can see a coming shortage of community-based philanthropy. In an age when the economy is dominated by multinational conglomerates, when it is almost inconceivable for a small regional business to grow into a local icon, when most of the money spent locally gets funneled to some remote corporate headquarters — well, where will the next generation of community giants come from?

Lack of entrepreneurship

Consider Propstra. It is difficult in this day and age to imagine a startup fast-food restaurant competing with the Burger Kings and the Taco Bells of the world to establish a niche that keeps local dollars in the local community. As a headline in The Washington Post stated: “America doesn’t have a small business problem. It has a startup problem.” The story explains that the small-business sector in the United States is tiny when compared with other developed countries and “as economists have found, young firms are the key drivers of growth. New businesses are the real job creators. So how does America stack up here? Actually, not so well.”

Or, as a study from the Brookings Institution found last year, the U.S. economy is less entrepreneurial now than at any point in the past three decades.

Undoubtedly, there are various reasons for this, and each factor is certain to generate a battle over political philosophy. Republicans will tell you that regulations and taxes are stifling entrepreneurship; Democrats will counter that government needs to provide more help for upstart businesses.

Good arguments can be made on both sides, but it is worth noting that Lynch and his brethren managed to create their wealth and provide jobs despite spending most of their careers during an era when the top marginal tax rate ranged between 70 percent and 92 percent (yes, 92 percent, according to TaxFoundation.org).

But I digress. Because the point is not taxes or regulations or conglomerates. The point, really, is to wonder whether we are developing the next generation of giants.

Loading...