Thursday, August 27, 2015
1012 C Street  •  Floresville, TX 78114  •  Phone: 830-216-4519  •  Fax: 830-393-3219  • 

WCN Site Search


Lost & Found

Our beloved Gracie is missing since October, Dachshund/Lab mix, microchipped, about 30 pounds, black with little white. $1000 reward for safe return. Call with any information, 830-393-9999 or 419-250-9099.
Found: Smartphone, morning of Wed., Aug. 12  on Chihuahua Street, La Vernia.  Call 830-779-5300 and describe.
Lost: Small black and white tortoise shell cat, 1-1/2 years old, since Aug. 8, Country Hills area, La Vernia, very friendly, "Cinnamon" but responds more to "Kitty," rhinestone collar with bell, shots and spayed, family loves and misses her terribly. Reward! 210-725-8082.
More Lost & Found ads ›

Help Wanted

The 81st Judicial District Attorney’s office, which includes Frio, La Salle, Atascosa, Karnes and Wilson Counties, is accepting resumes for an Assistant District Attorney position. Responsibilities of the position include felony intake, preparation of cases for grand jury, negotiating pleas and assisting law enforcement, assisting with Border Prosecution Cases and representation of the State of Texas in pretrial proceedings, as well as in criminal bench trials and jury trials in District Court. All applicants must be a graduate of an accredited law school and licensed to practice law by the State of Texas and have a minimum of five (5) years prosecutorial experience. Salary commensurate with experience. Resumes will be accepted through close of business, August 28, 2015. Please EMAIL resumes and cover letters to terireyes@81stda.org or fax to 830-393-2205. DISTRICT ATTORNEY RENE PENA C/O, TERI REYES, Office Manager; 1327 THIRD STREET, FLORESVILLE, TEXAS 78114. Fax 830-393-2205, terireyes@81stda.org.
Experienced dog groomer needed at Floresville area dog grooming and boarding business. Apply by calling, 210-621-4602.
More Help Wanted ads ›

Featured Videos





Video Vault ›

Commentaries


The Economist: Economic Development Sales Tax Turns 25




E-Mail this Story to a Friend
Print this Story

Disclaimer:
The author of this entry is responsible for this content, which is not edited by the Wilson County News or wilsoncountynews.com.
March 26, 2014 | 4,860 views | Post a comment

M. Ray Perryman

The Texas Legislature made a very smart move 25 years ago: providing a mechanism to fund local economic development efforts. The Development Corporation Act had been passed in 1979, allowing cities to form economic development corporations (EDCs) to attempt to attract new businesses. However, funds available for this purpose were scarce. The Legislature amended the Act in 1989, and the sales tax for economic development was born.

Local areas can vote to add a local sales and use tax to fund economic development, and about 700 have done so. Rates can range from one-eighth to one-half of one percent. There are some restrictions on which cities are eligible, and the total local piece of the sales tax is capped at 2% (including the economic development portion). The EDCs are established by cities, with boards of directors named by city councils. City councils must also approve proposed expenditures by the EDC.

There are two basic types of structures: “Type A” and “Type B” (which used to be known as 4A and 4B). Type A EDCs have the authority to use funds primarily for industry and manufacturing development. Projects include buying land, building industrial buildings and other facilities, undertaking certain infrastructure improvements, and paying maintenance and operating costs associated with the projects. Type B sales taxes can be used to fund all of these things and more, including quality-of-life improvements such as sports and athletic facilities, parks, streets and roads, and various other types of infrastructure. Type A corporations can do Type B-type quality-of-life projects, but only with voter approval.

The 697 cities which filed required reports for fiscal 2011 range from tiny to large and are located all over the state. The EDCs had total revenue of $781 million, with $573 million stemming from the sales tax. They spent almost $736 million in fiscal 2011, with most of it going to capital costs (with capital assets involving things such as land, commercial buildings, industrial park sites, and equipment), debt service for prior investments, and direct business incentives. Primary objectives were job creation/retention and infrastructure projects.

We have studied the economic benefits for several cities and found that these taxpayer investments pay off. Economic development corporations choose projects to fund based on the likely opportunities offered to residents in the form of jobs and other benefits. The increased economic activity stemming from corporate locations, expansions, and retentions in turns generates tax receipts. It’s a virtuous cycle, with new activity stimulating further gains in related businesses and the overall economy.

Many of us remember all too well the dark economic days of the late 1980s. After an amazing boom spurred by oil prices and friendly tax treatment for certain real estate investments, the bottom fell out. Rig counts dropped dramatically when the global political situation changed and crude prices fell, and cities in the Permian Basin and other oil and natural gas-rich areas were battered. Tax law changes and other factors also led to a real estate (and later, savings and loan) crisis. These events caused substantial dislocations, with shrinking employment and major oversupplies of commercial real estate. Against the backdrop of this disruption, visionary legislation was born.

In an ideal world, economic incentives might not exist. However, incentives are a fact of life, and Texas communities must offer them to keep the playing field even or risk losing out on quality corporate locations and expansions. By allowing local areas to create and fund economic development corporations, state legislators made a bold move which is enhancing prosperity in communities large and small across the Lone Star State.

Texas is a center for job growth, outperforming the United States as a whole by a significant margin. Even other states with notable advantages can’t keep up. Part of the reason is that 25 years ago, Texas legislators, community leaders, and voters decided to invest in a better economic future. This investment benefits us all in the form of greater opportunities for Texans.

Dr. M. Ray Perryman is President and Chief Executive Officer of The Perryman Group (www.perrymangroup.com). He also serves as Institute Distinguished Professor of Economic Theory and Method at the International Institute for Advanced Studies.
 
‹ Previous Blog Entry
 

Your Opinions and Comments


Be the first to comment on this story!


You must be logged in to post a comment.




Not a subscriber?
Subscriber, but no password?
Forgot password?

Commentaries Archives


Commentaries
Commentaries page govtrack.us
Commentaries who represents me?
Heavenly Touch homeauto chooserAllstate & McBride RealtyVoncille Bielefeld homeTriple R DC ExpertsDrama Kids

  Copyright © 2007-2015 Wilson County News. All rights reserved. Web development by Drewa Designs.