Rethinking Metro Tax Incentives

Last night, members of the Metro Council knocked around ideas to stimulate the local economy. They ranged from simply encouraging residents to shop within the county to overhauling fees and laws that may impede development.

At-large Councilman Tim Garrett says the city may want to take a second look at offering tax incentives to attract business relocations.

“People don’t like it when they talk about tax increment financing and you’re not paying your share and those kinds of things, but you look around this city and there’s a whale of a lot of jobs created because of that.”

Former mayor, now Governor Phil Bredesen used tax incentives to attract companies like Dell to the area. The Purcell Administration was more tight-fisted. Under Mayor Karl Dean, the Metro Council has approved one tax increment financing deal for the Bellevue Mall redevelopment, but only because it now includes a new city library.