Tax Data Shows Retail Sales Up in Most of Central VA - NBC29 WVIR Charlottesville, VA News, Sports and Weather

Tax Data Shows Retail Sales Up in Most of Central VA

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Tax data from 2012 released Tuesday shows retail sales are up across a majority of central Virginia.  

The Charlottesville Regional Chamber of Commerce compiled the tax information which shows retail sales up more than 7 percent in Charlottesville and Greene county. 

Albemarle County saw less than a 2 percent increase. Sales were also up across Louisa County and Waynesboro.

However, Augusta County saw total retail sales drop about 2 percent.  

Albemarle and Charlottesville accounted for more than $2 billion in sales in 2012 - that's up $96 million from 2011, but still not quite as high as 2007 before the recession.

Charlottesville Regional Chamber of Commerce
Press Release

The Charlottesville Regional Chamber of Commerce today released compiled sales tax data which show that over the course of 2012, total retail sales rose across the region – in Albemarle, Greene, & LouisaCounties and in the cities of Charlottesville and Waynesboro, with only Augusta County showing a decline in total retail sales.

Virginia Department of Taxation sales tax data compiled showed that retail sales during 2012 (January through December) compared to the full 2011 year were up in Albemarle County +1.86%; in Charlottesville +7.57%; in Greene County, +7.68%; in Louisa County, +3.38%; and in Waynesboro +3.18% with Augusta County total retail sales down -2.17%.

Albemarle and Charlottesville, the region's retail hub, accounted for $2.293 billion (+4.35%) in total retail sales over the full course of 2012 – an increase of $96 million from 2011 but lower by $72 million (3%) from 2007 levels, the last full year before the "Great Recession" of 2008-09 and subsequent slow economic recovery. Compared to December 2011, December 2012 retail sales increased +3.54% in Albemarle and Charlottesville combined [Albemarle (+3.02%) / Charlottesville (+4.21%)], confirming the small but continued gain over the course of the 2012 Holiday Shopping Season.

In addition to the retail associated jobs and private investment, the gain in retail sales equates to a 2012 local tax revenue gain of more than $960,000 for Albemarle and Charlottesville combined: +$725,000 gain for Charlottesville; +$230,000 gain for Albemarle. Meanwhile the retail sales gains represented a 2012 local tax revenue growth of $118,000 in Greene County and a 2012 local tax revenue increase of $97,000 in Louisa County. [The 2012 Chamber Jobs Report data shows that within the Greater Charlottesville region there are more than 17,000 jobs in "Trade, Transportation & Utilities;" most of those in retail].

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