Quality Growth Fund Renewal 2020
Quality Growth Fund Renewal 2020
A WIN for NORTH PLATTE
The Quality Growth Fund will continue in North Platte for another 10 year's after voter's approved the plan and it's funding mechanism with an overwhelming vote on November 4, 2020. North Platte Telegraph story here.
"THANK YOU for your support during the Quality Growth Fund / North Platte Economic Development Plan Renewal process the past few months. We came out swinging and managed a 3:1 margin victory we can be very proud of. This sends a clear message to developers that North Platte is ready to grow. I am excited for what this means for our future." -Cassie Condon, VP of Operations
"I want to thank the North Platte citizens who voted in favor of the Quality Growth Fund initiatives, and the many, many volunteers and businesses who supported the effort. Our Chamber and Development organization stepped up big time! North Platte wins! You win! In this strange COVID year of 2020, we will take any kind of a win – and any kind of positive statement. Regarding the final vote tally – North Platte just hit it out of the ballpark when it comes to their support for economic development. This certainly sends the right message to the business and industry prospects we are working with. I feel confident about where we are positioned with some key developments heading into 2021 and this program will play a key role as we move the community forward.
For the detractors, we will try to gain your confidence moving forward as these projects emerge for the betterment of North Platte." -Gary Person, President & CEO of the North Platte Area Chamber & Development
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The Quality Growth Fund / North Platte Economic Development Plan is up for renewal on the 2020 general election. In 1991, the state approved the Municipal Local Economic Development Act. Communities can adopt the plan and renew it every 10 years. In 2001, North Platte adopted the fund and has since coined it the ‘Quality Growth Fund’. The fund was again renewed by voters in 2011.
72 other Nebraska communities have approved an LB840 economic development fund. We are again asking you to VOTE YES on Issues 1 and 2 to renew the Quality Growth Plan on the general election ballot and continue to fund the plan using existing sales tax- that’s right, NO NEW TAX is required. The fund pulls from existing sales income tax structure.
The Quality Growth Fund has helped 475 businesses through direct and indirect applications. In the past 10 years, North Platte has had $358 million in new projects. Of those projects, 50 were greater than $50 million since 2011. Those businesses employ local residents and assist in our quality of life. We need this fund to keep North Platte competitive for future growth.
If you need a few more reasons to vote YES on Quality Growth here are a few more:
- Quality Growth Fund will be critical in developing the future Industrial Rail Park
- Funding only happens through sales tax “growth” – this fund does not take away from existing city services
- Large percentage of local sales tax is paid by non-residents
- In 2019, 4,999 different zip codes visited North Platte at least twice from 14,444 households.
- Local control, Public-Private Partnership; Developers and individuals request the funds and work through City Council to be granted the funds. Public meetings allow for citizens questions and comments
- Accountability; Annual Financial reports at public City Council meetings
- Quality Growth Fund will be critical in expanding the Twin Rivers Business Park and recruiting industries to North Platte
- Downtown Revitalization has benefited through façade restoration grants and recent upper street improvements to the “Canteen District”
- Housing projects and local contractors have benefited
- Recent projects to assist the small business community through COVID-19 helped over 220 businesses through SBA Assistance and Gift Card Boost Programs
This is YOUR COMMUNITY, YOUR FUTURE, YOUR VOTE- Vote “YES” on Issues 1 & 2 for Quality Growth.
For more info visit VoteYesOnGrowthNP.com