State lawmakers will consider legislation this session that would allow the city of Hobart and the town of Merrillville to implement a 1% food and beverage tax. Our partners at The Times of Northwest Indiana report revenue from the proposed tax would be used for economic development.
The Merrillville Town Council adopted a resolution to endorse the tax, saying it would boost the local economy.
“This proposed Food and Beverage Tax would be focused on stimulating needed economic growth and development in and around the U.S.30 and Interstate 65 corridor, which is one of the most sought-after commercial destinations within the United States, but currently possesses existing redevelopment opportunities,” the town’s resolution states.
The publication reports the 40 acres of land where the Star Plaza Theatre, the Radisson Hotel and the Twin Towers once sat is a prime area the town wants to see new growth, such as a convention center.
“This isn’t going to be extra money just to go in the general fund,” said Town Council President Rick Bella. “This is for specific development.”
The city of Hobart also is seeking legislation that would allow it to enact a food and beverage tax to bolster economic development.
Like Merrillville, Hobart would use tax funding for economic development.
Although they aren’t collaborating on the tax proposal, Bella told the publication both communities could work together on economic development projects involving the U.S. 30 corridor.