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This weeks IBJ unveils the latest focus of the Mayor’s scruntiny:  The TIF’s (Tax Increment Financing Districts)

These districts (many created by republican mayor Stephen Goldsmith) have received tax breaks and loans to create incentives for economic development.  Ideally as these areas develop the increased tax revenue will be used to repay the loans.

Does the process work?  Fall Creek, the new Airport and Harding Street clearly have seen significant improvements, enhancing the image of the overall city, and their assessed value which means more taxes paid to the city.   Two other districts on the NW side of the city have not performed as well.

So lets take a look at what works and what doesn’t rather then making an across the board decision that TIFs are bad.

Jennifer Wagner – one of my favorite political writers sums up the situation very well:

But when you’ve been in office for nine months with no vision and no clue, you have to look busy, and reviewing “stuff” and looking into “things” accomplishes that goal.

Sadly, the Mayor’s tendency to wave his cheap plastic sword in the air and destroy the nearest forward-thinking idea is costing Indianapolis valuable time and progress as we compete with other cities for new jobs and new blood.

As a marketing professional, I know when business slows down you keep marketing so you are ready for the upswing.  it should be the same for economic development!  Come on Mayor Ballard, lets try investing in growth instead of cutting back..  the tax revenues will come!