Press Release -- 3/26/2008

McKim for Council
3714 N Bittersweet Dr
Bloomington, IN 47408
(812) 322 2762
committee@mckimforcouncil.com

Geoff McKim Calls for New Economic Strategy

Geoff McKim, Democratic candidate for County Council, is proposing a new economic development strategy for Monroe County. McKim's plan includes supporting small businesses, focusing on wages and benefits, and reform of the system of property tax abatements.

"Our economic development policy should focus on small, locally-owned businesses and start-ups so that we aren't so reliant on a few employers and can keep more money in the community" said McKim. "Small businesses are the primary engine of economic growth. Right now the County only provides a very small amount of funding to support small business development. We should do better than that."

Economic development policy should focus primarily on encouraging jobs that pay above-average wages and provide benefits, said McKim. "Monroe County has a serious underemployment problem; although there are many jobs available, not enough pay a living wage. Changing that needs to be a priority." McKim also believes that the use of property tax abatements needs to be overhauled. "The tax abatement resolution discussed by the Council last week is a good start," McKim says. "But I believe that we should expand our definition of small businesses beyond those with 10 or fewer employees."

"We need to ensure that abatements are carefully targeted and are applied in a fair and predictable manner. We also need a good system of accountability to ensure that the taxpayers of Monroe County receive an adequate return on their investment in economic development incentives," McKim says. Tax abatements cannot be seen as an entitlement.