By Victoria Harker | Chamber Business News
As voters head to the polls next Tuesday, commercial real estate and economic development professionals are calling on citizens to vote “no” on Proposition 208. The high-tax measure threatens Arizona’s economic growth and recovery, and could punish thousands of small construction businesses who would be subject to the new tax, they said.
“I’ve been in Arizona for about a quarter of a century and this is the worst proposition to make the ballot during that time, and it may be one of the worst in the history of the state,” said Tim Lawless, president of Commercial Real-estate Executives for Economic Development (CREED).
“It’s divisive. It’s very chilling to job creation and it’s basically killing the golden goose. We’ve got a good thing in Arizona and we need to keep the momentum and I feel this is going to sidetrack that totally,” said Lawless, whose organization represents the largest property owners in the state, accounting for a minimum of 70-million square feet under management and more than 5,000 business tenants, most of whom are small businesses.