Vision and Goals For Tacoma Pierce County Economic Development: Foster Business Development, Growth...
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Vision and Goals For Tacoma Pierce County Economic Development:
Foster Business Development, Growth and Retention in Tacoma
and Pierce County
October 2, 2013
Proposition 1
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City leadership has recognized the spending decisions of previous have left the city less competitive and without the financial where with all and tools to address even basic road maintenance and safety
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Proposition 1, while well intentioned begs a basic question, does it help or hurt the efforts to achieve a prosperous business climate?
Lets look at a description of benefits…
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FREDRICKSON
JBLM
• Port Maritime Industrial• Nalley Valley• Medical Mile
FIFE
U.P.
LAKEWOOD
LITTLE TO NO BENEFIT TO THESE CUSTOMERS
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Residential
Comm Industrial
99%
1%
40%
40%
Value Propositionannual % cost per customer class Annual % Benefit
Tax Hike $$
Tax Hike Benefits
Tax Hike $$
Tax Hike Benefits
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Fiscal Sustainability Task Force Update• The City of Tacoma has an ongoing structural budget
deficit in the City’s General Fund. Expenditures are growing faster than revenue. This difference is significant and not temporary. It is an immediate and long-term problem that threatens the City.
• General Fund expenses outpace revenue.• No borrowing capacity.– 1995 Debt: about $250 per capita– 2012 Debt: about $1,300 per capita (400%
increase)• No/limited reserves.
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• General Fund expenses outpace revenue.• No borrowing capacity.
1995 Debt: about $250 per capita 2012 Debt: about $1,300 per capita (400%
increase)• City has No/limited reserves.• Many task force proposals for additional revenue
and cost cutting.• Focus on keeping Tacoma competitive.
Fiscal Sustainability Task Force Update cont’d
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SUMMARY
• 33% tax increase on businesses power, gas and telephone usage
• Little to no benefit to Tacoma Pierce County Businesses
• REAL Impediment to our collective goals to develop, grow and sustain a healthy business climate
• There is no quick fix to our problem. • The path forward will be difficult. • Obtain the Fiscal Sustainability Task Force
recommendations.• Design a fair and comprehensive plan to ensure our
City’s fiscally sustainable future.
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Support Needed Now
BOTTOM LINE: WE NEED YOUR SUPPORT FOR THE NO CAMPAIGN TO DEFEAT PROPOSITION 1
Stop Higher Utility Taxes2602 So. 38th Street, PMB 112
Tacoma, WA 98409