11/14/2024
Letโs talk about tax abatements...
The latest tax abatement proposal for Marshalls raised a few red flags. Here's why:
Job Creation?
The request hinges on just three jobs, with one possibly being a replacement and others going to family members.
Profiting from the Tax Payers:
Marshalls already has multiple contracts with the cityโare we just giving them more taxpayer incentives without a real return? Plus, the wear and tear their trucks cause on our local roads suggests we might need an impact fee instead.
This year, weโve approved tax abatements to local businesses including InTouch Pharmaceuticals, Lake Cable, Barley Properties, and Viking Medical Center. Each of these proposals included 10+ new jobs created. One included equipment to remain competitive in their field, another will pass on cost savings to lessees, and the final is mitigating a complicated eyesore that stemmed from a bad deal in the first place. These approvals show that we are supportive of local businesses and want to help them thrive, recognizing the value they bring to our community.
However, we also need to ask: Whatโs the return on our investment? Tax abatements are meant to spur growth, create jobs, and improve our local economy. While these businesses have benefited, itโs important to evaluate whether each new request is truly in the best interest of the community.
We should continue to support our local businesses, but only when we see a clear, tangible benefit for our residentsโnot just more incentives for companies that are already receiving taxpayer support. This means accountability and a focus on long-term value for everyone.
Letโs make sure weโre using our resources wisely to benefit the whole community, not just a few. These are the values I ran on and will continue to bring to my council leadership.
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