The Pueblo City Council has approved an ordinance expanding the permissible uses of the city’s half-cent sales tax revenue. Historically allocated solely for primary job creation, such as manufacturing incentives, the funds can now support a broader range of economic development initiatives.
Key Changes in the Ordinance
The new ordinance allows up to 15% of the uncommitted half-cent sales tax funds to be used for:
- Infrastructure Development: Funding capital improvement projects to enhance the city’s infrastructure.
- Small Business Support: Assisting startups to reduce economic leakage by encouraging local spending.
- Placemaking Initiatives: Projects aimed at attracting new residents and visitors, such as enhancing public spaces and amenities.
Rationale Behind the Expansion
Mayor Heather Graham emphasized the need for a diversified approach to economic development, noting that Pueblo’s population growth has been modest over the past two decades. She stated, “This gives more tools in the toolbox to change the way the city has been doing economic development.”
Community Response
The ordinance passed with a 5-2 vote, reflecting both support and opposition within the community. Some residents expressed concerns about the rapid implementation and potential impacts on existing relationships and resources.
Looking Ahead
With the expanded scope of the half-cent sales tax, Pueblo aims to stimulate economic growth through infrastructure improvements, support for small businesses, and initiatives designed to enhance the city’s appeal to residents and visitors alike.