Franklin County expects to direct $4 million in new sales tax revenue into a newly established economic development fund
Next year, Franklin County commissioners expect to place more than $4 million into a newly created economic development fund through a temporary quarter-penny sales tax increase that goes into effect Jan 1, 2013, and runs through Dec 31, 2018, The Columbus Dispatch reports. Approved in September, the sales tax increase will be used to "pay for business loans, infrastructure upgrades, worker training and other development aid." In addition to the fund, money from the sales tax increase will also be used to increase the amount given to Columbus 2020 and Experience Columbus, with the two earmarked in next year's budget to receive an additional $300,000 and $625,000 respectively, the article said. For more, read the full story.
