Glasgow Daily Times, Glasgow, KY

Local News

November 3, 2012

Glasgow City Council Candidates Respond

(Continued)

GLASGOW —

Q: If elected, what are the measures you will propose in order to address these issues?

A: For growth of jobs, we should continue in the direction we’ve been moving.  I do feel, however, that we need to start funding the Economic Loan Fund again. When the withholding tax rate was increased from 1% to 1.5%, a few years ago, that one-half percent was designated for an economic loan fund.  Once the loan fund got to a million dollars those extra tax dollars were then diverted to other city funds. We continue to use the economic loan fund; however, at present we’re not putting new money back into it. In the past, loans were re-paid and interest earned.  Now, the process of acquiring most new business is a forgivable loan once job number requirements are met. If we don’t start funding it again in future budgets, the loan fund will eventually run out of money. It is so important that we always be ready to offer loan money and/or land to stay in the playing field when new business comes to Kentucky looking for new locations.  Sometimes, we also need that fund to re-invest in existing businesses for the jobs already here. That fund is our economic growth tool.  My second measure for jobs would be to find how the city can help more in working with W.K.U. in their re-training programs. This is a major asset that new businesses look for and Glasgow can offer the right people for those job requirements, if they are properly trained. For future budgets, I would propose council not pass a budget that’s revenues do not afford the expenditures.  The city needs to focus on funding the budget without additional taxing of our citizens while at the same time maintaining a healthy carryover.  The city departments have faced cuts for the past four years but until the economy is back on track, they need to continue looking for more ways to save as a whole.  Also, city revenue continues to drop in their investments income. I would like to see if there are permitted avenues allowed for cities where more interest on city money could be earned.

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