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Chamber of Commerce: Mixed Indicators on Central Virginia Econom - NBC29 WVIR Charlottesville, VA News, Sports and Weather

Chamber of Commerce: Mixed Indicators on Central Virginia Economy

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Charlottesville Regional Chamber of Commerce
Media Release

(Charlottesville, Virginia – May 31) The Charlottesville Regional Chamber of Commerce today released compiled retail sales tax data which show area retail sales slid downward over the first quarter of 2013. Compared to 2012 levels, retail sales decreased in Charlottesville, Louisa and Waynesboro, while retail sales in Albemarle, Augusta and Greene have increased. 

Compiled Virginia Department of Taxation sales tax data showed that during the first quarter of 2013 (January – March) compared to the first quarter of 2012, retail sales decreased in Charlottesville -12.25%; Louisa County, -9.69% and Waynesboro -4.91%. Retail sales over the same period increased in Albemarle County +6.07%; Augusta County +13.38% and Greene County, +7.97%.

The region's retail hub — Albemarle & Charlottesville – accounts for approximately $2.2 billion in retail sales each year (not including motor vehicle or gasoline/diesel sales). Aggregate** retail sales in Albemarle and Charlottesville decreased -2.46% in the first quarter of 2013 compared to the first quarter retail sales in 2012. Until 2013, retail sales had increased same month, year-to-year, 15 of the prior18 months.

** (The Virginia Department of Taxation informs our Chamber that several audits of tax reports between the City of Charlottesville and Albemarle County is the most probable explanation of the significant decline in the City of Charlottesville's sales tax revenues. Analysis by Virginia Taxation and Albemarle County officials of retail sales reporting earlier revealed that businesses in the County with "Charlottesville" mailing addresses were reported incorrectly as having occurred within the City. The resulting adjustments moved retail sales to the proper jurisdiction. The amount of those continuing inter-jurisdictional adjustments is not readily available from Virginia Tax Department data. Thus the data for Albemarle and Charlottesville in the aggregate provides a more accurate picture of retail in that one retail "marketplace.")

The Charlottesville Regional Chamber of Commerce is dedicated to representing private enterprise, promoting business and enhancing the quality of life in the Greater Charlottesville communities. Founded in 1913, Chamber member enterprises today employ more than 45,000 men and women in the Greater Charlottesville region, representing an estimated total payroll of more than $1.75 billion a year.

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