Ever wonder why, years back, when the overall population of East Hampton was much smaller, we had a year-round economy? The fact is, until the 1990s, Main Street was lined with dozens of locally owned restaurants, bars and shops that stayed open 12 months a year. How could they do that then, but today half the village goes dark the day after Labor Day?
Follow the money west, my friend.
Back in the day, when paychecks were handed out on a Friday, the people who earned them lived here. And spent that money here. Today, the majority of money earned here travels west to places where workers can afford to live: Riverhead, Hampton Bays, Manorville, the North Fork — wherever reasonably priced housing is available, those main streets see the benefit of our money.
That, in essence, is the trade parade. And it is not just made up of contractors, plumbers and electricians. It is every worker — from doctors and teachers to dishwashers and cashiers. Thousands of workers endure that mind-numbing ride to earn a better paycheck.
So, how much is lost?
Assuming every worker makes at least $50,000 a year, the cumulative money sent packing is hundreds of millions of dollars annually. Perhaps as much as a cool billion dollars! No local economy can function on a year-round basis when that much money is taken out of the overall system.
But, what to do?
Build workforce housing (housing employers can use to house their employees) to anchor those jobs and money here. As an example, our proposed 48 units at 350 Pantigo Road (the old Sterns site) can house 200 to 300 workers. Again, if they each earn a minimum of $50,000 a year, a low estimate by any standard, $10 million to $15 million stays here!
Imagine how many burgers and beers can be bought, pizzas and wraps eaten, movies and concerts seen, groceries and gas bought, shops shopped with that money? And it is year-round money, friends, to fuel a year-round economy!
Now imagine what two, three or four more properly planned and engineered workforce projects can do to revitalize the area, take cars out of the trade parade and keep essential services manned.
We may not be able to go back to the village I remember, but we can stabilize and begin to regain the economic foundation we have to have to survive as a year-round community by building workforce housing. And build it now.
Kirby Marcantonio
Whalebone Workforce Housing
East Hampton