Funding the Future of Charlotte County
How
much would you, as a business owner, or even as a
private citizen, contribute to attract new business to Charlotte
County? The Enterprise Charlotte Foundation
organizing committee is addressing that question even as it passes
its recommendations to the Enterprise Charlotte Board on June 26.
The Enterprise Charlotte
Foundation, a nonprofit corporation is essentially
an operating fund to support the economic growth of Charlotte County
to pay costs chat can't be funded with tax dollars. The foundation
will financially support Enterprise Charlotte with funds that can't
be spent from the Economic Development Office. Contributions to the
Enterprise Charlotte Foundation will be tax deductible. The question
is what kind of support will the businesses of Charlotte County, and
the community itself, give the foundation?
The foundation's function
is to engage in economic development activities,
including accepting donations, providing hospitality for
potential prospects, sponsoring events, as well as engaging
consultants and independent contractors.
The
foundation's sole source of revenue will be private donations. It
will try to utilize Charlotte County vendors if at all possible.
"Why our money?" is always the first question. Because tax
dollars can't be used to pay for many of the items needed to
successfully show or present what we have to offer potential
businesses or companies. Other communities offer opportunities
for potential businesses to visit and assess their areas with
similar, non-tax funded programs. Charlotte County cannot be
competitive without the funding.
“How
much money?” usually follows. The operating budget for 2002 is
tentatively set at $14,000 and grows to $20.600 by 2004, according to
documents filed with the Internal Revenue Service. The foundation
hopes to meet those goals by setting two contributor levels, one, a
business or individual level at $250 and the other a corporate level
at $1,000. Of course, no donation will he refused, and the benefits
to the contributors are still in discussion.
One
item being considered is an Internet link to contributor's web sites
on the Enterprise Charlotte Web page for the corporate level. There
will be an annual function to recognize those who contributed
and to encourage others to support the community.
"Why
do I want economic growth'!" usually comes from those satisfied
that they are paying the tax burden for the county. Diversifying the
tax burden is but one positive aspect of economic growth. Employment
opportunities and a more stable economy are also factors. With a
broader employment base, local businesses won't be forced to suffer
the severe summer economic doldrums we now contend with. The last
meeting of the Enterprise Charlotte Foundation organizing committee
was this past Tuesday. The recommendations will go to the Enterprise
Charlotte Committee on June 26. Hopefully the organizing committee's
recommendations reflect the mood and desires of the business
community.
We will soon see.
George Mindling ©
2002
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