City Councilman Scott Garrett is calling for the creation of new tax incentives aimed at stimulating job growth in Lynchburg.
“I think the public needs to know that we’re doing what we can to create new jobs during this recession,” said Garrett, who is also running for the House of Delegates. “If we wait for the state or federal government to fix the problem, we’ll be losing a huge opportunity.”
Garrett, an at-large council member, said Tuesday he wants the city to start working up new tax incentive ideas for businesses that either expand their workforce or move their headquarters into Lynchburg. He specifically mentioned two local taxes, business license and business personal property, that he felt should be examined. The two combined generate annual revenues of around $11.5 million.
It was not immediately clear how much any future tax breaks might cost the city, but Garrett said any potential shortfall could be handled by revising the city’s budget priorities and possibly postponing some planned capital improvement projects.
“We’ll make more in the long run than we lose in the short run,” he said, noting that creating new jobs has a ripple effect that pays dividends for the whole community. “Maybe we have to defer some projects, but in doing so we can create new jobs in the city … Then we all win.”
Garrett did not offer a detailed proposal, but rather asked that council discuss the issue further during its next work session in two weeks. His request, made during the roll call or general comment period of Tuesday’s meeting, drew no opposition from his fellow council members.
Garrett is the Republican candidate in the current race for the 23rd District House of Delegates seat, which represents Lynchburg and the Madison Heights area. He is facing off in that election with incumbent Shannon Valentine, a Democrat.
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