Wednesday, November 19, 2014

Downtown sales decline in 2013

Posted By on Wed, Nov 19, 2014 at 12:52 PM

In this week's edition, we report that downtown merchants are working hard to attract shoppers this holiday season.

It made us wonder: What percentage of retail sales take place in the city's downtown core?

So we asked the city's Chief Financial Officer Kara Skinner if she could provide us with sales tax collections in the 80903 zip code area, which includes downtown. Actually, 80903 covers an area roughly south of Patty Jewett Golf Course and north of Motor Way, west of Hancock Avenue and east of Monument Creek.

So that's a lot larger than just downtown.

But it's interesting to note that city sales tax collections in that area declined slightly (by 2.6 percent) in 2013, which runs contrary to the city's total sales tax collections, which are growing. In fact, the city saw a 5 percent overall increase last year, compared to the year before. (It's worth noting that 2012 was the year the Waldo Canyon Fire struck the city, which might have contributed to a decline in tourist spending, although rebuilding homes probably created a lot of sales tax receipts.)

Here's the chart Skinner provided for us. (Thank you very much, Ms. Skinner.)

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