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County considering economic development sales tax
The Boone County Commission is considering the merits of a possible sales tax dedicated to economic development.
The Columbia Chamber of Commerce asked the Boone County Commission earlier this month to consider the idea of asking voters to approve a new sales tax to pay for economic development initiatives such as shovel-ready sites, job training programs and advertising the merits of locating a business in Boone County. The chamber’s resolution did not propose a specific amount of tax or an amount of revenue that would be needed.
The statute that allows a countywide sales tax of up to ½ cent for roads and economic development sets up a seven-member advisory board to evaluate projects and make recommendations to the county commission.
Boone County Presiding Commissioner Ken Pearson and Boone County Commissioner Karen Miller agreed that it might seem counter-intuitive to propose a new tax during a recession, but they both called the Chamber’s proposal “a good idea.”
“A downturn is when we really need to invest so we have a leg up on the competition,” Miller said. “The idea that it would be a countywide tax is very appealing because other cities and towns in the county (outside Columbia) are also working to broaden their economic bases.”
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