Northwest Arkansas Sales Tax Revenues Looking Good
- May 23, 2012 | Susan McLain
The combined total of March sales revenue for Bentonville, Fayetteville, Rogers, Siloam Springs and Springdale shows an overall increase of $219,000. Individually, all but Springdale were above revenue collections for this time last year:
- Bentonville – up 12.53% March total: $1.793 million
- Fayetteville – up 2.13% March total: $2.960 million
- Rogers – up 9.56% March total: $2.362 million
- Siloam Springs – up 7.36% March total: $574,422
- Springdale – down 3.07% March total: $1.692 million
Springdale’s finance director, Laura Favorite indicated they weren’t worried about the dip in sales tax revenue. A larger than normal rebate adjustment of $194, 967 (normally averages $40 – 60,000 per month) was “…likely related to an expensive equipment purchase by a local manufacturer” and shouldn’t impact other months.
Other factors that indicated that the growth will continue:
- Bentonville’s new Crystal Bridges Museum of American Art, opened in November 2011, has “…resulted in heavier traffic for local restaurants, hotels and other art venues around the city.” The Museum is credited for increasing tax revenues by nearly 20%.
- Rogers’ new Cabella’s is also credited with helping to drive “…visitors from up to 150 miles away to [the] region for shopping, dining and possible overnight stays.”
- Rodeo of the Ozarks in early July.
- Walmart’s annual company meeting starting June 1.