Economic Engine
The primary purpose of a TIDD is to promote economic development. The value of the new economic development is what allows the TIDDs to issue bonds to reimburse SunCal for the infrastructure work it funds upfront. The following are some quick snapshots of how economic conditions are anticipated to improve with the Westland TIDDs.
TIDDs bring new jobs as our economy slows down.
The TIDDs will help provide new, good-paying jobs at a time when our State and national economics are slowing down. Over 20,000 new jobs are anticipated - real opportunities for people of all ages and skills.
TIDDs create new money for our region.
When SunCal's plans are complete, it is anticipated to increase annual sales tax revenue for the Albuquerque region by more than $1 billion - that new money can be used to hire more police and firefighters, improve our parks and libraries and lots of other priorities. Without the TIDDs, this scale of new revenue is not possible.
TIDDs create new money for our schools.
Albuquerque public schools will receive nearly $5 million a year after SunCal's plans are complete. Without the TIDDs, this scale of new revenue is not possible.
TIDDs create new money for our State.
The State of New Mexico is anticipated to receive over $53 million a year in new revenue. This money will help provide for the state's growing financial needs. Without the TIDDs, this scale of new revenue is not possible.