Sioux City has new tool for economic development - KTIV News 4 Sioux City IA: News, Weather and Sports

Sioux City has new tool for economic development

SIOUX CITY, Iowa (KTIV) -- Are all deals, a good deal when it comes to economic development? The Taxpayers Research Council says "no."

That's why today the group unveiled a new tool that would assist Sioux City Council members and the economic development team in determining whether a new business would benefit taxpayers as a whole.

The tool is a scoring system which would rate potential new businesses on several entities including job creation, return on investment, and the use of public infrastructure.

"The city staff would be able to use our scoring system to determine how good of a deal it is. If it's a great deal, they'd be able to take that to the city council and say hey this is going to be a great deal, it scored well in our policy," said James Johnson of the Taxpayers Research Council.

Johnson says the taxpayers research council will approach the city soon about using this new scoring system.

The scoring results would also be available for public viewing.

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