Greater Memphis Chamber release statement calling for alternatives to tax increase, worries about chilling effect
MEMPHIS, Tenn. — Greater Memphis Chamber officials released a statement calling for elected officials to seek alternatives to the proposed tax increase Mayor Paul Young presented during Tuesday’s Memphis City Council meeting.
The chamber’s statement said that the city is currently a finalist in a half-dozen projects representing billions in new capital investment.
“At the Chamber, we speak with one voice representing both small and large businesses,” the statement reads. “A property tax increase could have a chilling effect on our ability to attract future business investment.
“We are at the table and confident alternative solutions can be brought forth so that Memphis continues to meet any challenge with collaboration and a pro-growth business climate.”
“In order to create the value that the community is expecting, we need revenues. We are in a situation where we haven’t raised …