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GOODE Economic Investment Legislation Approved
Submitted by Councilman Goode on Thu, 05/21/2009 - 3:07pm.
City Councilman At-Large W. Wilson Goode, Jr.’s Economic Investment Package was approved by the Council’s Committee on Commerce and Economic Development. The third-term councilman, and chair of the committee, has introduced more than 50 bills to become law.
The New Philadelphia Job Creation Tax Credit Ordinance amends the program under which a credit against the City's business privilege taxes will be given to businesses that create new jobs within the City of Philadelphia. The businesses will receive a $3000 credit for each new job created for tax years 2010 and 2011.
The New Economic Partnership Ordinance amends the program providing a credit for contributions to community development corporations (CDCs) to allow two businesses to apply jointly for the credit.
The DCED Main Street Funding Ordinance authorizes the Commerce Director to file
an application with the Commonwealth's Department of Community and Economic
Development (DCED) under the Main Street Program to support the City's neighborhood
commercial corridors.
Councilman Goode said, “I am pleased with my colleagues’ continued support of my third term agenda. These initiatives are all critical to economic growth for Philadelphia.”
This deserves support.
DCEDs are essentially "shadow" governments that provide high value for investment. Without serious tax reform proposals seriously considered at the highest levels of elective government, tax credits to encourage the CDCs expansion of scope and mission are a tactical victory, and a proving ground for future action at the city-wide level.
Kudos to the councilman, and all support to PACDC, NKCDC, KSCDC Projecy H.O.M.E. and other great organizations that dare to make things happen in our neighborhoods without waiting for the powers that be to act.
Joshua Vincent
www.urbantools.orgare
www.ourcommonwealth.org
Phree Philly