Laserfiche WebLink
STRATEGIC INITIATIVE VII: EXPLORE INTERNAL AND EXTERNAL FUNDING MECHANISMS <br />STRATEGIC CHALLENGE: <br />The PEDC's current cash position, debt obligations and incentive commitments have impacted the <br />organization's ability to remain competitive without taking on more debt for economic development <br />projects. <br />• The PEDC currently receives % cent sales tax revenue compared to peer communities that average a M cent. <br />In order to remain competitive, the PEDC will need to identify ways to complement or increase our funding. <br />STRATEGIC ACTIONS: <br />1. Discuss additional revenue streams and funding mechanisms that will provide the PEDC the necessary <br />funding for economic development projects. <br />2. Identify funding resources that support infrastructure development and economic development projects <br />including EDA, TIRZ, PILOT, partnership with the City and others. <br />3. Pursue organizing a revolving loan fund to assist startups and entrepreneurs. <br />4. Support attraction of employers and projects that will greatly increase our sales tax base. <br />5. Support shop local campaigns and other initiatives that support growing our sales tax revenue. <br />6. Champion and support legislation and policy that supports economic development through participation <br />in and outreach to TEDC legislative affairs, Texas Association of Business (Texas State Chamber) and <br />elected officials. <br />10 <br />