Perrysburg Mayor Mike Olmstead wants to reduce limitations to business growth in the city.
Perrysburg Mayor Mike Olmstead wants to make his city more attractive to business so the end result is that companies pay a larger share of city taxes.
He's not suggesting raising taxes on businesses, but wants to change regulations that make it easier and more desirable for businesses to be located in Perrysburg.
"The purpose is to have more commercial money (in tax revenues) to lessen the burden on individual taxpayers," Mr. Olmstead said. "We still only collect as much as we need for core services, and it shouldn't be mistaken as more taxes on businesses."
The city collects $16 million annually in income tax revenue, and 57 percent is paid by residents and 43 percent by businesses, said Steve Bronder, the city's income tax commissioner. Residents currently pay about $2 million a year more in income taxes than businesses. The mayor wants to see a 50-50 balance in those collections, so that means more business tax revenue needs to be generated.
How can that be done? Mayor Olmstead said the city will try to limit restrictions and "red tape" so there is no hindrance to businesses from two employees to 200 employees.
That means that first the planning and zoning department may need to make regulations simpler and easier to understand for consultants working to bring businesses to Perrysburg, said Brody Walters, city Planning and Zoning administrator. And next, the city will evaluate what approaches work and then adopted to make Perrysburg more accepting of new businesses, he said.
While Mayor Olmstead foresees business growth throughout Perrysburg, he said the State Rt. 25 corridor in particular is a key growth corridor.
Costco plans to put a 154,300-square foot store at the southeast corner of Eckel Junction Road and State Rt. 25. It could take a few years to know how much of a bump Costco would have on commercial income tax revenues, but it will help close the gap with tax revenues from residents.
Incentives for businesses to come to Perrysburg also will be examined, Mayor Olmstead said, to see what can be improved.
"We want to be conducive to attracting businesses," Mr. Olmstead said.