Voters in the southern Arkansas city of El Dorado have passed a temporary 1% sales tax to fund a plan designed to revive the local economy. The vote was 1,477 in favor and 1,003 opposed.
The tax is expected to bring in $32.2 million over its eight-year life. It will go into effect in July.
TIP Strategies of Austin developed the strategic plan, known as El Dorado Forward.
The City Council has adopted resolutions allocating the tax dollars.
Workforce development efforts, including external marketing and internship programs, will get $2.2 million. Projects designed to benefit industrial efforts will get $14.2 million, with $15.8 million earmarked for facilities and infrastructure needed for economic development.
A priority project for the effort is a combination conference center, bookstore, and student center to be built in partnership with South Arkansas Community College at a cost of $14.2 million.
