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                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: TUESDAY, February 2, 1993                   TAG: 9302020334
SECTION: EDITORIAL                    PAGE: A6   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

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HOTEL FUNDS CAN BE PUT TO BETTER USE

MAYBE my analysis and/or assumptions are simplistic or show my lack of experience and education in economic development, but the information published so far on the Hotel Roanoke project argues that it is a "Field of Dreams" project, i.e., "if we renovate it, they will come."

Instead, a sounder argument would appear to be that the $5 million-plus in available economic-development capital would be better spent as venture capital or as loans for local citizens who want to start local companies. With the talented workers available here - led by smart management, supported by good infrastructure and a strong regional promotion group - many of those prospects should be less speculative and more growth-oriented than the hotel.

KEENAN L. PAWLEY\ TROUTVILLE

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