- Corporations receiving P.I.L.O.T. tax relief from the city and county have not produced the number of jobs promised, and have even hired workers from outside of Memphis and Shelby County.
- Small to medium-sized businesses, minority and women-owned businesses, and businesses started by millennials should be eligible for tax incentives, low-interest loans, and training resources for newly hired workers.
Together, we can
City and county officials, especially the mayor, should concentrate all of their efforts on creating good-paying jobs inside of local communities and should support small businesses with the same incentives offered to large corporations.
The Chism administration wants to make the Shelby County economy equitable for all its citizens. For too long economic access has been restricted to a large segment of Shelby County citizens. We know that we as the government cannot fix all the socioeconomic ills of the past, present, and future but we can and will improve/create avenues for the average citizen and small business to empower themselves. We will work toward expanded opportunities for family businesses and increased employment for millennials.
Our bottom-up economic plan is as follows:
- Create minority business incubators that help build capacity and train businesses how to bid on Shelby County contracts. Make sure that these incubators work with existing efforts in the surrounding area to create a cohesive system that assists businesses to be able to thrive in today’s economy.
- Recruit minority business contracts for certain contracts particularly those that are within the community in which they serve.
- Use community organizations to recommend contractors based out of their neighborhoods.
- Work with our schools and adult training centers to offer financial literacy training. We want our kids to know about credit, balancing a checkbook, and building independent wealth for their family before they graduate high school to combat the high rate of bankruptcy and poverty in our county.
- Set the parameters of what the county should consider to be a small business and make a percentage of county contracts available to only small businesses.
- Create a point system on how to award contracts that is not merely based on the lowest bidder but also factor minority ownership, rather the company is considered a small business based on the new parameters, the location of the business, etc.
- Work with existing businesses to create intern/mentoring programs for the youth.
- Make volunteering for community organizations a gateway into intern/mentoring programs.