Letter: Half-cent dip
It would be a real mistake if Pueblo City Council were to dip into the half-cent tax for economic development.
The whole point of this tax is to allow PEDCO to create jobs or bring companies into Pueblo with long term jobs.
Currently, there is $40 million in the fund.
There is a dire need staring Puebloans in the eye, jobs for the chronically unemployed or under-employed young people, between the ages of 15 and 25 years old.
The best use for some of this money would be to subsidize local bonafida companies, that hire these young people for summer jobs, part time or permanent full time jobs.
PEDCO could provide funds to these local companies, schools or even city and county departments, to pay 50 percent to 75 percent of these new employees’ wages for a given amount of time.
All business, large and small, would be eligible.
Overnight, the unemployment rate would drop.
The benefits are obvious, less unemployment, more incoming tax revenue, busy young people equates to less crime, business would profit.
It’s a win-win proposition.
Also, there could be possible state and federal matching funds available.
Frank J. Peralta