On May 23rd the full Board of Directors of the Tampa Bay Chamber voted to take a position of support for the renewal of the Community Investment Tax (CIT) at a 15-year renewal and 5% allocation for education. These are the terms that will be put to voters on the November ballot. We urge you to take this time to get informed on CIT impacts and, on election day, vote in support of the renewal.
While we were deeply disappointed in the decision of the Hillsborough Board of County Commission on April 17 to significantly reduce the funding for Hillsborough County Public Schools and reduce the term length, we have grave concerns about the outcomes of not having CIT funding at all.
The business community understands the importance of this critical funding source to meet the growing needs of our community. This is a workforce issue and an education issue. Our region continues to experience incredible growth, with an estimated population increase of over 475,000 in the next 25 years. With the continued demand for service and infrastructure throughout the County, this half-percent sales surtax is imperative to funding critical capital improvement projects such as school construction and the vehicle & equipment needs of first responders.
CIT is paid for by residents and visitors to our region, alleviating the pressure to rely on property taxes for these and many other infrastructure needs. Over the coming months we will be equipping you with the information you need to inform your fellow business leaders and workforce on the importance of voting in support of this in November.
Bob Rohrlack, DBA, CCE
President & CEO
Tampa Bay Chamber