I have been slacking off a bit lately on some issues. Economic development is one of them. Time to catch up a bit.
The City Council just approved another grant to Lone Star Beef. This is a company that has been here a long time, is growing but is struggling against the realities of the local and world wide business climate. There is no question that they can use some help. There are still some question that need to be answered still.
First, why aren't we doing low or no interest loans to companies that need expansion money instead of giving them grants? Tyler, TX, for example, has a revolving loan fund that works well for attracting and growing business and allows them to have a very low tax rate.
Why is it that most of these grants seem to be to businesses in stagnant or declining industries?
Why do we spend so much time supporting and attracting businesses that are hurt by our poor transportation instead of going after more businesses that can use our strengths?
There are more questions, but these will do for a start.
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