PUEBLO, Colo. (KOAA) — The Pueblo City Council has approved changes to how the city can spend revenue from its voter-approved half-cent sales tax, expanding the types of projects eligible for funding to boost economic growth.
For decades, the half-cent sales tax, which adds 50 cents to every $100 purchase, has been used to fund what the city calls “primary jobs,” typically tied to manufacturing jobs.
Now, city leaders are broadening that scope.
Under the new ordinance, the fund can also support projects categorized as the following:
- economic catalyst projects
- efforts to prevent economic leakage
- place making projects
“Anything that is going to be a large sales tax driver in the community,... It could be retail,” said Pueblo Mayor Heather Graham.
Mayor Graham said the change gives the city another tool for economic growth.
“We’re not getting large employers here. We’re not getting new families to move here. We’re not keeping people who were born and raised here,” said Mayor Graham.
The city will use $9 million from the fund to incentivize business development.
Each year, leaders will review how much uncommitted money is available, with limits on how much can be spent on the newly added project categories.
Local business owner Yelmar Gonzalez, who opened his Mexican supermarket, 'Super Market Gonzalez' three years ago, said he hopes to expand his store.
“Business owners who struggled may not know that’s an option... or haven’t thought about the possibility of capital for it,” said Gonzalez. “Everyone deserves an opportunity. Why not here when it’s available?”
___
Colorado Springs man discovers business using his home address without permission
A Colorado Springs man is sharing his story after he discovered someone registered a business to his home address without his permission.
____
Watch KOAA News5 on your time, anytime with our free streaming app available for your Roku, FireTV, AppleTV and Android TV. Just search KOAA News5, download and start watching.