October 17, 2022 4:58pm
From the Desk of the CEO: October 2022
It’s hard to believe we are winding down 2022. As we head into the last quarter and finish the year strong, our focus is shifting to how we can make 2023 a year of unprecedented growth. The year will begin with the reconvening of Kentucky’s General Assembly and another opportunity to pass pro-business and pro-growth policies that will make our region more competitive. At the top of the list is passing local tax reform to give local governments more flexibility and options to generate revenue for increased investment that spurs economic growth, creates major projects in the city, and attracts top talent.
This has been a top priority for GLI for many years and this year we came closer than ever to making it a reality. Right now, Kentucky’s Constitution is overly restrictive in its language and limits the legislature’s power to comprehensively reform local government tax policies. Earlier this year, HB 475 passed the Kentucky House with bipartisan support but did not make it past the Senate, in large part because statewide tax reform and several other bills that passed were big lifts.
A few weeks ago, we took a group of 120 business leaders to Jacksonville for our annual GLIDE trip, and the need to pass local tax reform was the biggest takeaway from our attendees. Government and business leaders, developers, and even those in education discussed the transformational impact these local tax options had on growing and investing in Jacksonville.
Following the trip, momentum is stronger than ever. But we need your help to make it a reality. The first step is passing HB 475 to put a referendum on the ballot for voters to amend the Constitution and allow the General Assembly to look into ways to expand revenue options. As session begins in January, be on the lookout for GLI’s action alerts, Advocacy Day in Frankfort, and other ways to engage in the process and let your legislator know local tax reform is a priority for you and your business.
But you don’t have to wait until January to get involved. As you probably know, election day is coming up on November 8th. There are several big races that will impact our region for years to come. For the first time in 12 years, we will elect a new mayor. We will also be electing a new member of Congress representing the 3rd district, and several Metro Council seats. While GLI does not endorse or support specific candidates, we do educate candidates on our positions and likewise educate our investors on where candidates stand on the business community’s priority issues. Earlier this year, we surveyed candidates running for Mayor and Metro Council on a range of topics.
Before you head to the polls the first Tuesday of November, I encourage you to educate yourself on each candidate’s position on those issues that are most important to you. You can view responses from the Mayoral candidates here, and responses from Metro Council candidates here. You can also view a recording of GLI’s live Mayoral Forum hosted in June here.