The City of Pueblo announced in a press release on Tuesday the termination of its contract with the local economic development agency known as PEDCO as of the end of the year. More than forty years ago businesses in Pueblo formed and funded the nonprofit Pueblo Economic Development Corporation, known as PEDCO. A few years after PEDCO formed, the city’s voters approved a half cent sales tax to support economic development efforts. “It ties to all the economic development that we've been doing,” she said. Flores noted that there is a measure on the November ballot to extend the half-cent sales tax for five more years.