Let's Talk Business: Voters Approve Tax Initiatives
Area voters approved two separate tax initiatives in the rescheduled local elections held on June 2.
Voters in the City of Cape Girardeau approved Transportation Trust Fund 6. This is the extension of a ½ cent sales tax to fund road and street infrastructure improvements. The tax will run from 2021 through 2025. The specified expenditures include approximately $10 million for specific street projects and more than $13 million for street repairs. A complete list can be found on the City of Cape Girardeau web site.
Cape Girardeau County voters approved a new ½ cent law enforcement sales tax designed to fund numerous things for the Sheriff’s Department. The new tax will allow the hiring of 10 additional road officers and 12 jailers. Also, equipment will be upgraded and improvements will be made to the jail. This new tax has no sunset.
There is business relevance to both of these issues. An area’s willingness to invest in infrastructure and basic services is important to both the existing business base as well as businesses looking to relocate. Road and street improvements are ongoing and the TTF initiative has been very successful since its inception in 1995. And the new law enforcement tax should result in a better equipped, better staffed, and better prepared sheriff’s department.
The citizens of this area have a long history of evaluating tax initiatives, making independent decisions, and holding governmental entities accountable for follow through. There is no doubt this will continue.