Town businesses sound off to mayor on wishlist for improving economy
Town of Washington Mayor Joe Whited recently held a roundtable meeting with local business leaders to facilitate discussion on what could be done to improve the economic environment around town.
Whited told the Town Council on Monday that business owners said they would like to see improved walkability in town in the form of new and improved sidewalks. Town leaders said they plan to explore potential federal funding to try and make that reality. Business leaders also told the mayor they hope to see further beautification of the town and additional food establishments.
“I commend the concept of bringing us all together,” Town Council member Drew Beard, also co-owner of Gay Street Inn, said. “I think it was a really good first discussion – hopefully one of several in the future.”
During his inaugural address in January, Whited announced preliminary plans to pursue a two-year “holiday” on meals and lodging taxes for new and expanding businesses to boost the town’s economy. The Town Council originally planned to discuss the proposal on Monday, but put it off until later to further buff out the concept and potentially explore methods to attract more retail outfits.
The proposal Whited initially outlined would not tax income on new rooms at existing inns and bed and breakfasts for the first two years of their existence Business owners who make an investment in upgrading lodging rooms will also not be liable for any taxes on them for two years.
The move is in line with Whited’s campaign promises to promote business in the shrinking town, while also embracing the tourism industry that currently upholds Washington’s economic backbone. Meals and lodging taxes make up a significant portion of the town’s tax revenue, which is supported disproportionately by the Three Michelin-starred Inn at Little Washington.
But the tax holiday idea would only apply to lodging establishments and not necessarily encourage other types of business, a problem leaders hope to iron out by exploring potential incentives for retail businesses.