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Whereas, the Sioux Falls Area Chamber of Commerce believes that South Dakota benefits from the growth of businesses operating in the state and that attracting investment in our State increases the tax base, provides job opportunities, and generally enhances our schools and communities.
Whereas, the Sioux Falls Area Chamber of Commerce understands that the practice of charging sales/use tax and an additional contractor’s excise tax on construction projects puts a considerable tax burden on projects requiring significant capital investment, particularly at start-up.
Whereas, the Sioux Falls Area Chamber of Commerce is supportive of state programs providing refunds of the sales/use tax and contractor’s excise tax keeping South Dakota competitive for new jobs and economic growth. These refunds were essential to the successful establishment of the ethanol industry, the wind energy industry and expansion of manufacturing.
Whereas, the Sioux Falls Area Chamber of Commerce believes the refund policy was improved in 2011 by passage of HB 1230, Gov. Daugaard’s Jobs Bill. The bill lowered the threshold for projects to $5 million making them accessible to more communities. It allows grants to a wider variety of industries than in the past and is financially sounder, as the total expenditures are capped and a portion of the contractor’s excise tax is dedicated to the program, creating opportunity for investments in the future.
Now therefore, be it resolved, that the Sioux Falls Area Chamber of Commerce finds that it is in the best interests of the membership, and the citizens of South Dakota that Referred Law 14 be approved by the voters and thereby become law. The Sioux Falls Area Chamber of Commerce will encourage its members to support passage of Referred Law 14 and hereby authorizes the leadership to take all appropriate actions to help secure passage of the measure.
Approved by Executive Committee on Dec. 12, 2011
Approved by Board of Directors on Dec. 14, 2011
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