Every year the Chamber takes positions on ballot issues that have an impact on economic development, workforce development and the statewide business climate. There are five issues we’re engaged in that will be on the 2015 ballot: a statewide TABOR and marijuana tax issue; three Denver initiatives, one of which will also be voted on in Adams County; and one local initiative that would limit economic development in Wheat Ridge.
Here’s the business community guide to the issues we’re weighing in on this fall.
Referred Question 2C: A Smart Deal for Denver
Question 2C extends the lodgers’ tax, a tax on hotel rooms and car rentals, for at least 20 years beyond 2023, when the tax is currently expected to expire. The funds generated would be used to renovate and expand the National Western Stock Show and the Colorado Convention Center—two major draws to our region. Additionally, this measure will help transform the National Western Stock Show complex into a year-round economic center for agriculture and animal science.
Why We’re Supporting 2C: This is an opportunity to support an economic center for agriculture, food and animal sciences in our region—without creating a new tax.
Referred Question 1A: 1A for DIA
Initiative 1A is an agreement between Adams County and Denver that would update the Denver International Airport’s intergovernmental agreement forged in 1988. It will allow new development on the land surrounding DIA, including retail, manufacturing and office space. This agreement has potential to create an estimated 12,000 new jobs for people living throughout the metro area, expand development and enhance the impact of DIA in a manner that ensures all the surrounding areas benefit.
Why We’re Supporting 1A: This agreement is an amazing example of regional collaboration. DIA is one of our region’s greatest assets, economic drivers and economic development tools—and it is one that we must leverage to maximize our region’s economic potential. We see this as a huge win for our region for decades to come.
Referred Question 2A: College Matters
Question 2A would create the College Affordability Program, which will increase college access and completion by Denver students by providing scholarship reimbursements, student loan debt relief grants and student support services. The program will be open to all Denver high school graduates enrolled in accredited technical schools, community colleges and four-year colleges in Colorado. It will be funded by a 0.08 percent sales tax increase (just 8 cents on $100) that will raise about $10 million annually.
Why We’re Supporting 2A: We simply have to do a better job of getting more Colorado students to and through post-secondary education if we plan to meet our projected future workforce needs. With nearly three out of four jobs in 2020 requiring some sort of education after high school, this is a critical funding strategy. The College Affordability Program will be a model for how Colorado can make higher education more accessible.
Proposition BB allows the state to keep funds generated via recreational marijuana taxes. Under our Taxpayer Bill of Rights (a constitutional provision), the state can’t keep the funds collected without voter approval. If passed, this measure will allow Colorado to keep those funds and direct them where they were promised to go—to regulation of recreational marijuana, public safety and schools.
Why We’re Supporting Proposition BB: It is important to us that we retain these funds to pay for regulation of the marijuana industry, public safety and schools, as voters intended.
Ballot Question #300: Forward Wheat Ridge
Tax increment financing (TIF) is a vital tool to help revitalize blighted areas that need investment. A ballot question in Wheat Ridge will ask voters whether to add an amendment to TIF law that would require city council approval of TIF projects under $2.5 million or approval by voters for projects of more than $2.5 million.
Why We’re Opposing Ballot Question #300: We support the use of TIF and believe this amendment would reduce investment in blighted areas in Wheat Ridge, because developers would face fewer hurdles if they wanted to use TIF in a neighboring community. We are also concerned that this could set an unsustainable precedent for other local communities.
Laura Giocomo is vice president of communications and marketing for the Denver Metro Chamber of Commerce.