Hidden Benefits: The Virtuous Cycle of Economic Activity in Hillsborough County

My father was a business man before he retired. He understood the value of investment, especially in the companies for which he worked or outright owned. And while it may be a platitude, he drilled into me the concept of “you gotta spend money to make money.”

After living in Florida for over 20 years and witnessing the growth in Hillsborough County, I am amazed at what we have accomplished with the little tax revenue we’ve generated over that time. As our population grew and the economic base expanded, it has largely been a wash. But the last several years we have had a Florida Legislature willing to cut services to the bone, especially public education, all in the name of saving pennies for families.

The time has come for the citizens of Hillsborough to band together, pass both referenda (schools and transportation), and make a real investment in our local community.

Regardless of how any individual feels about either of these sales tax increases, the truth is it will cost each of us–on average–about 50 cents per day to pass both. All told, this will generate well over $400 million dollars per year between the two, the vast majority of which will be immediately reinvested in our local businesses and create a virtuous cycle of economic activity.

In the video above, I spoke about how the infusion of capital outlay money for the school district means that those dollars will largely go to local contractors to install new HVAC units, repair roofs, build new schools, paint old schools, upgrade technology, etc. When the district spends that money locally, those companies in turn can then reinvest in / grow their own companies by hiring more employees and giving them raises, which those employees will then inject their wages back into our local economy, thereby collecting more additional tax revenue which can be used for additional projects that require spending more money, and over and over…hence the virtuous cycle.

It is evident that many people from all walks of life and both sides of the aisle are realizing that this is an opportunity to invest in Hillsborough County in ways we haven’t seen for a long time–if ever. Beyond having the Tampa Bay Times already endorse both the transportation referendum and school referendum, even more telling is having groups such as the Greater Tampa Chamber of Commerce and pro-business conservative Republicans such as Ken Hagan back the sales tax increase to support schools.

Business leaders know that this investment in our community is long overdue. They realize that the potential for a virtuous cycle of economic activity is one of the many hidden benefits that are being overlooked by naysayers. Investing in our students and schools, as well as our transportation infrastructure, will only continue to lure more people and businesses to Hillsborough County, expanding our entire economic base and generating more momentum in the virtuous cycle.

Please join me and many others in voting YES on November 6th to support our entire local community here in Hillsborough County.

P.S. – If you’d like to learn more about how to help our students and schools, please visit the website for the parent-led coalition, Strengthen Our Schools, or check out the HCPS information page. You can also learn more about the All For Transportation referendum here.

Previous Related Posts: About Those Stubborn Facts…; Numbers Don’t Lie; Why We Must Pass Both Tax Referenda: The Numbers Don’t Lie Redux

Virtuous Cycel
Let’s Create a Virtuous Cycle of Economic Activity in Hillsborough! Vote YES on 11/6 for both

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