Saturday, November 03, 2007

BIZPAC on CEDIT

CEDIT Philosophy:
BIZPAC believes that County Economic Development Income Tax dollars should be used for exactly that, economic development. While improving existing residential infrastructure such as curbs, sidewalks, and streets serves to better the quality of life in Fort Wayne, BIZPAC does not believe that these are truly economic development projects. We urge council members to consider using CEDIT dollars for significant economic development projects that will provide a return on investment.

Wow, this is really stretching free enterprise. Should taxpayers be required to subsidize business? I thought that local government was to limit government involvement and maintain public property (streets, sidewalks, parks, police and fire). In simple terms do those things that an individual or company cannot provide. BIZPAC support using your tax dollars for significant economic development projects that will provide a return on investment. Are they talking being share holders in a company, no? Are they talking about providing government jobs, no? They are talking about using tax dollars to give to a company that on its own does not want to invest in Fort Wayne.

What happens after several iterations of this cycle? Pretty clear that property taxes will rise, side walks, streets and services will diminish making it harder to attract and retain businesses. Tax dollars to pay for taxpayer-funded infrastructure such as side walks, roads, alleys and parks. I do not approve of raising property taxes to subsidize private investment.

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