The City of Fort Collins is hosting a public workshop on the tools and process the City uses when offering business assistance, on Wednesday, January 16, 4-6 p.m., CIC room, City Hall, 300 Laporte Ave. The workshop will begin with an overview of existing tools, process for granting financial incentives to private businesses and a proposed new framework promptly at 4 p.m.
Feedback and suggestions made at the workshop will inform the proposed new framework which City Council will discuss at their January 22 Work Session.
Although incentives are used by many states and municipalities to achieve economic objectives, incentives are often controversial. There is an increased demand by taxpayers and public authorities to create policies and procedures that provide an equitable and predictable process, aid in determining type and amount of assistance for primary employers, and to evaluate the public benefit.
The City of Fort Collins uses a variety of local incentives to assist primary employers with relocation and expansion efforts. Currently, the City does not employ a one-size-fits-all approach to developing incentives packages. Instead, the City chooses to work collaboratively with each primary employer and build a package that is specific to the individual needs. While this approach has worked for the City in the past, City Council has requested the Economic Health Office staff review the City’s current practice and develop policy and procedures that will guide future investment decisions.
In addition to the January 16 workshop, the community can learn more about the various tools and criteria at www.fcgov.com/business
. An online survey will be available on the same webpage January 15 through February 8. The input will be shared with City staff and City Council.