Laserfiche WebLink
SUBJECT: <br />DATE: <br />BUSINESS ASSISTANCE PROGRAM STATISTICS <br />AUGUST 3, 2015 <br />PAGE4OF4 <br />improvements boost the property tax revenue to the City, School District, Boulder <br />County and Louisville Fire Protection District. <br />FISCAL IMPACT: <br />There are 45 active or complete Business Assistance Packages approved by the City <br />Council since 2007. These BAPs have resulted roughly $1,290,000 in total incentives <br />paid by the City, generate roughly $671,000 annually in new sales tax revenue to the <br />City, have stimulated over $53 million in new private capital investment, and helped <br />create or retain 2,647 jobs, with almost 90% of those jobs paying an average wage of <br />about $90,000 annually. <br />Because all financial assistance under the program is a rebate of taxes and fees paid, <br />the City has no annual budgeted amount for the program and incentives are intended to <br />be offset by the additional revenue resulting from business retentions, expansions or <br />relocations that happen in Louisville. <br />RECOMMENDATION: <br />This memorandum is for informational purposes only. <br />ATTACHMENT(S): <br />1. Powerpoint <br />CITY COUNCIL COMMUNICATION <br />15 <br />