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Retail Up in Charlottesville, Albemarle - NBC29 WVIR Charlottesville, VA News, Sports and Weather

Retail Up in Charlottesville, Albemarle

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The Charlottesville Regional Chamber of Commerce reports retail sales are up in most places.

Albemarle County and Charlottesville had more than $1 billion in total sales over the first half of 2013 - about $10 million more than the same time frame last year.

Retails sales are also up in Augusta and Greene counties, but down in Louisa County and Waynesboro.

 


 

Charlottesville Regional Chamber of Commerce
Press Release

CHAMBER OF COMMERCE REPORTS VIRGINIA TAX DATA SHOW RETAIL SALES UP  SLIGHTLY (+0.94%) IN ALBEMARLE-CHARLOTTESVILLE "RETAIL HUB" OVER THE  FIRST SIX MONTHS OF 2013 – 2013 FIRST HALF RETAIL SALES ALSO INCREASE IN  AUGUSTA & GREENE; DECLINE IN LOUISA & WAYNESBORO.

(Charlottesville, Virginia – August 12) The Charlottesville Regional Chamber of  Commerce today released retail sales tax data showing aggregate retail sales in Albemarle –  Charlottesville have increased very slightly (+0.94%) over the first half of 2013 in comparison  to first-half 2012 levels. The data also showed that first half of 2013, retail sales increased in  Augusta & Greene Counties; declining in Louisa County & Waynesboro, compared to 2012.

Virginia Department of Taxation sales tax data compiled showed that Albemarle and  Charlottesville, the region's "retail hub," accounted for $1.097 billion in total retail sales over the  first half of 2013; in the aggregate a slight increase of +$10 million compared with the $1.087  billion in total sales in 2012's first half.  Retail sales decreased over the first half of 2013 within  the City of Charlottesville by -8.82% while increasing in Albemarle County by +9.12%.  (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  reported 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 – and correspondingly retail sales tax revenues – 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.") Aggregate retail sales in Albemarle and Charlottesville, the region's retail hub, have risen  very consistently since the downward trend that began in late 2007 with the onset of the so-called  "Great Recession" (2007-2009).  Still, retail sales overall continue to lag behind 2006 & 2007  levels. However, although any single month's data does not constitute a trend, it is important to  note that the reported Albemarle – Charlottesville total aggregate June 2013 retail sales data  ($208 million) is higher than any previous June over this report's eight-year period.

During the first half of 2013 (January – June) compared to the first half of 2012, retail  sales increased in Augusta County +14.04% and Greene County, +10.56%; while retail sales  decreased in Louisa County -9.01% and Waynesboro -0.21%. According to the 2012 Chamber Jobs Report, the employment reporting sector of "Trade,  Transportation & Utilities," holds the largest segment of jobs, 17,790 or 22.7% – virtually all  created through private investment and general commercial activity.  (The 2013 Chamber Jobs  Report will be presented at the 2013 Chamber Large Employer Round Table Breakfast at the Greencroft  Club at 7:30 AM, Thursday, August 29 sector level holding steady.  All Chamber member representatives – from large, small, and mid-sized  employers – are invited to attend and hear this comprehensive presentation.)

An increase in retail sales equates to a gain in jobs and state and local tax revenues  while conversely a decline in retail sales equates to a loss of jobs and as well as a tax revenue  loss.

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, the more than 1,100 Chamber member and affiliate member enterprises  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. The new Chamber Jobs Report will likely show that employment

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