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Economic development group touts Laredo investments and job growth
Summary
The head of the Laredo Economic Development Corporation urged council to prioritize measures that grow the tax base, citing LEDC-supported projects that he said generated nearly $1.8 billion in capital investment and 7,000 jobs.
David Stevin, identifying himself as head of the Laredo Economic Development Corporation, urged council to view economic development as a revenue strategy that reduces pressure on tax rates. "Since 2011, LEDC assisted projects have generated nearly 1,800,000,000 in capital investment and more than 7,000 new jobs," he said, and cited a $28,500,000 grant for a grade-separation project at Santa Maria intended to ease downtown rail-related gridlock.
Stevin told council the LEDC will continue partnering with city staff and council members to attract investment and new taxpayers. Council members and staff noted that new development can bring both revenue and ongoing service costs; the manager said growth must be balanced against recurring service commitments.
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