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Some in North Platte have questioned the city's use of tax-increment financing, a tax break for business, as a means of attracting new retail businesses to North Platte. When the financing scheme was first adopted in Nebraska in the 1940s, it was strictly as an incentive to manufacturers. Since then, the Unicameral has reinterpreted the law to include retailers, housing projects and the like. Existing retailers who got no special treatment from the city say it is unfair for them to have to compete against newcomers who get tax breaks and low-interest loans. Development officials say TIF is a valuable tool for them to attract new businesses and promote the city's growth. They point to such projects as the Sandhills Convention Center, the Budweiser distribution center, the new Wal-Mart distribution center and the proposed new Menards in North Platte as proof of the TIF plan's value. What do you think, Should tax-increment financing be used to bring retail businesses into North Platte? |
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