05-18-10 EDC Meeting - Laserfiche WebLink

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1 • . • • : 2 • • 3 ' • 4 5 7 maim C) 8 • . . 9 10 11 - - - • -_ 12 ' _ ' ••13 = 14 15 _ 16 17 • 18 - - '_ - - -_ -- - -- - 19 20 PRINCIPLES 21 A healthy, ongoing public/private partnership between the City of Pequot Lakes and the businesses located inside 22 the city limits must be based on an understanding that each has a part in the process of creating export and 23 import-replacement businesses.What the city government of Pequot Lakes can do to is to create a framework for 24 growth that provides the widest variety of local entrepreneurs the greatest chance for success. 25 To do this,the City must focus on the following three principles: 26 1. Improve businesses competitiveness by reducing the tax burden. 27 2. Encourage business development by streamlining the regulatory process. 28 3. Improve business opportunity by growing the market of customers wanting good and services from the 29 businesses of Pequot Lakes. 30 Reduce the Tax Burden 31 The city tax rate is a function of the size of the tax base and the amount of government spending. Over the long 32 term,the City controls the amount of spending, but can only influence the size of the tax base.While sometimes 33 the City needs to make strategic investments to grow the tax base,those investments need to have a clear return 34 if the public spending is designed to reduce the overall tax rate. 35 Since the City has an implied obligation to maintain existing infrastructure systems,the way for the City of Pequot 36 Lakes to control the tax burden over the long-term is to make better use of those infrastructure investments.This 37 means encouraging new investment in areas where infrastructure already exists. 38 Streamline the Regulatory Process 18IPage