OPINION: Responsible government requires knowing the financial impact

Bernalillo County is considering a Community Benefits Rubric that would affect the county’s economic competitiveness and change how we evaluate incentives and abatements for companies looking to expand or invest here.

After extensive community dialogue, the stated intent behind this proposal reflects some of the priorities many residents share. Some priorities like transparency, accountability and wage growth are worthy goals I agree with. But before adopting a new policy that will materially influence investment decisions in our county, we must fully understand the financial implications for our tax base and long-term fiscal stability. Will this policy encourage businesses to make Bernalillo County their home? Or will this policy cause those businesses to look elsewhere, removing us from the competition for the local jobs we all want? I fear this Community Benefits Rubric will cause the latter – and will ironically not benefit the community after all.

The choices we make about economic policy shape where investment goes, where jobs are created and how our tax base evolves. Those outcomes ultimately determine our tax revenue, which gives us the ability to fund public safety, maintain infrastructure, support behavioral health services and invest in the programs our residents rely on every day.

Responsible government requires more than policy paved with good intentions. It requires understanding the financial consequences of our policies. Where will our policies lead us? While policy debates are sometimes driven by assumptions about how growth should occur, the commission’s obligation should not be to ideology but to stewardship. We have been entrusted by taxpayers to make decisions that protect the county’s long-term fiscal health.

Incentives are tools used across the country to attract capital investment that would not otherwise occur. New projects expand property values, generate tax revenue and create ripple effects that strengthen the local economy over time.

When the cost of doing business rises or Bernalillo County imposes requirements far beyond municipal and industry norms, companies begin to look elsewhere. In a competitive national market, even modest increases in cost or uncertainty can send projects to other communities. When that happens, Bernalillo County loses not only potential jobs and capital investment, but also the long-term revenue those investments would have generated.

For that reason, Bernalillo County should conduct a formal financial impact analysis before adopting this rubric.

Such an analysis would help us understand how the framework may influence business costs and its potential effects on industry expansion and attraction, property valuation growth and long-term revenue trends. Without that information, we risk making decisions that could unintentionally weaken the county’s fiscal position.

I encourage residents, employers and community leaders to review the proposed rubric and consider how its adoption could affect business investment, job growth and the county’s long-term fiscal health. Public input is especially important at this stage. If policy changes reduce investment or slow commercial growth, the resulting revenue impacts affect our ability to fund core services. Over time, falling short of expected revenue can force difficult choices, including cutting programs or raising taxes to make up the difference.

If you believe the county should fully understand these financial implications before moving forward, I encourage you to share that perspective directly with your county commissioners or through the public comment process. Thoughtful engagement from those who live, work and invest here will help ensure that any final policy reflects both community priorities and sound fiscal stewardship.

Taking the time to understand the financial impact of this proposal is responsible governance. And it is how we ensure that decisions made today strengthen Bernalillo County’s future rather than limit it.

Walt Benson represents District 4 on the Bernalillo County Commission.