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The sun is shinin in Deuel County! The 2009 Annual Report has been released by the SD Department of Revenue & Regulation, and it shows a good report for Clear Lake and Gary.
Gary leads the county this month in their sales tax increases percent from 2008 to 2009. In 2009, Gary sales & use tax revenues increased by 22.85% with revenues totaling $53,907. Check out the slideshow below for the details.
In 2009, Clear Lake sales & use tax revenues increased by 8.13% with revenues totaling $553,406. Check out their slideshow below for more details.
Toronto and Brandt are the only other Deuel County communities that have information released in the 2009 report, and by golly they’re both up too. Toronto realized sales and use tax revenue increases of 12.90%, and Brandt 6.62%.
These numbers vary from the numbers that have been published in previous posts as sales, use and contractors’ excise tax are included in the annual report, while contractors’ excise tax is not included in the monthly reports that are released on a monthly basis.
This is great to see, particularly in our recession that our nation is going through. What do you think cased the increases? There’s no doubt the development of Buffalo Ridge Resort contributed to the increases. What else do you think could have had an effect?
Looks like November was a slow month for Clear Lake and Gary both. It will be interesting to see what kind of an impact local shopping throughout the holidays has had on our economy in the next month!
Clear Lake Sales Tax Revenue – through November
Gary Sales Tax Revenue – through November
According to a study done recently by The Urban Conservancy, local merchants have 4x the economic impact of national stores. The study found that,
“when compared to leading chain competitors on a per square foot basis, local retailers:
- generate 2 times the annual sales
- recirculate revenue within the local economy at 2 times the rate;
- have 4 times the economic impact in terms of wages, profits, procurement of goods and services, and charitable giving.”
Impressive stats, huh? …And this is exactly why you should shop local this holiday season.
Source: CoolTown Studios
Here’s the latest in Sales Tax for the City of Clear Lake and City of Gary. As of October 2009 , Gary has surpassed it’s 2008 sales tax cummulative total according to the SD Dept of Revenue. Shopping locally does so much to help our local economies, so please think about how you can shop locally this holiday season. Thanks everyone!
Clear Lake Sales Tax Revenue
Gary Sales Tax Revenue
September sales tax revenues have been released by the Dept of Revenue, and we have updated our sales tax revenue progression powerpoints to reflect the totals for January – September 2009. It was a good month!
As of the end of September, Gary is approximately $1100 short of reaching its 2008 sales tax revenue total.
Clear Lake Sales Tax Revenue
Gary Sales Tax Revenue
We’ve had a request for a Clear Lake sales tax revenue analysis like that which we posted for Gary last week, and here it is! The slideshow below provides an analysis of where we are to date with sales tax revenues in Clear Lake, and compares our current progress to previous years.
As always, please continue to make an effort to shop locally. The bottom line is that a ‘Hometown First’ mentality with commitment to supporting local businesses, retail, and services is what we will need to increase these numbers for all communities within the county. Thanks for what you do to support local business, and please keep it up!!
The Clear Lake City Finance office has advised that these 2008 & 2009 sales tax revenue figures may increase with additional gross sales tax through the Bed, Board & Booze revenue source established in 2008.
Notes:
*Large purchases by Buffalo Ridge Resort through the Clear Lake Building Center occured in May 2009. This may account for some of sharp increases we see in the May 2009 sales tax revenues.
*Numbers sourced from the South Dakota Department of Revenue & Regulation. The numbers include both the general city sales tax and the municipal gross receipts tax.
*These numbers do not include the following: Contractors Excise Tax, Audit Payments, Miscellaneous Payments, Deduction for Administrative Fee, and Deduction for Food Tax Refund.
Increasing sales tax revenue is a sign of strength in a local economy, and is particularly exciting in rural communities. 
That said, the sales tax revenue progress in Gary this year is very interesting…
I have been watching Gary Sales tax progress throughout the year to see what type of impact that the business, tourists, and inflow of construction workers may be having on the Gary economy as a result of the development of Buffalo Ridge Resort & Business Center. Exactly how much Buffalo Ridge might have to do with the increases is hard to say at this point, but all the activity around there since the beginning of the year certainly makes them a very likely source.
Check out this short powerpoint to see various sales tax comparisons. As of the end of August, the City of Gary is 84% of the way to meeting the 2008 sales tax total. It certainly looks promising that Gary will have a healthy overall gain in sales tax come the end of the year. It will be interesting to see, that’s for sure!
Notes:
*Numbers sourced from the South Dakota Department of Revenue & Regulation. The numbers include both the general city sales tax and the municipal gross receipts tax.
*These numbers do not include the following: Contractors Excise Tax, Audit Payments, Miscellaneous Payments, Deduction for Administrative Fee, and Deduction for Food Tax Refund.
