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.
Charlottesville Regional Chamber of Commerce
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