FUNDING
Using
Sales Tax to Promote Economic Development
The
sales tax for economic development has been one of the most
popular and effective tools used by cities to promote economic
development. Although authorization for the local option tax has
been in effect only since 1989, over 400 cities have levied an
economic development sales tax.
The
City of Perryton adopted a section 4A economic development sales
tax of 1/2 cent which results in about $300,000 per year. The
types of projects permitted under Section 4A include the more
traditional types of economic development initiatives that
facilitate manufacturing and industrial equipment for projects
such as industrial and manufacturing facilities, distribution and
warehouse facilities, business related airports, port related
facilities, recycling facilities, and closed or realigned
military bases.
Other
Funding Sources
The
following elected officials make up the contacts at the government
agencies that encompass our funding sources: US Sen Phil Gramm, US
Sen Kay Bailey Hutchison, US Rep Mac Thornberry, US Rep Larry
Combest, Gov Rick Perry, Speaker of the House Pete Laney,
Agricultural Commissioner Susan Combs, State Sen Teel Bivins,
State Rep Warren Chisum.
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