Dallas

Latest Sales Tax Collection in Fort Worth Shows Strong Ongoing Pandemic Recovery, City Says

New data from the city of Fort Worth suggests economic recovery from the pandemic is moving in the right direction, according to the city’s Chamber of Commerce.

According to numbers released this week, Fort Worth’s net sales tax collections in September 2021 totaled $18,737,920. By comparison, that is up from September 2020 by 24.7%.

Chris Strayer with the Fort Worth Chamber of Commerce said that signals economic recovery from the pandemic is strong.

“We’re not back to where we were, especially in the retail and hospitality space but talking to our friends at Visit Fort Worth and Downtown Fort Worth, Inc., we just continue to build upon that,” Strayer said. “Hopefully, we’ll see more growth and get back to those pre-pandemic numbers.”

In a news release, the city of Fort Worth noted September’s collections continue to “demonstrate a trend of strong performance after several months of stagnation following the initial response to the COVID-19 pandemic in March 2020.”

“Although the revenue trend is positive, staff continues to note the potential volatility in future receipts if the pandemic intensifies or new restrictions are implemented,” the release noted.

Stores like Fort Worth Locals have seen more foot traffic recently, according to owner Javier Canizalas. His business runs a blog with a guide on Fort Worth attractions, while their storefront on Magnolia Ave. sells Fort Worth themed apparel.

“We get a lot of locals. That’s primarily who we cater to, but the good thing is they spread the word for us. So, we get a lot of international visitors,” Canizalas said. “Someone from every continent has been to our shop.”

When the restrictions on businesses were put in place in 2020, Canizalas’ business moved online for about two months.

“We just found a way to make it through. We hit heavy on our website, so we did a lot of promotions, giveaways,” he recalled. “We were lucky enough to find a way to operate and make it through.”

They reopened for in-person shopping in May 2020, and he said business has been doing well. Currently, one of their challenges right now is shortages within the supply chain. As they approach an anticipated busy holiday season, Canizalas said he will be monitoring the shipping rush.  

“Local businesses are just as vital to the community to your Walmart and your Target. We’re the fuel to the local economy,” he said.

In Fort Worth, sales tax revenue represents 22% of the city’s General Fund budget. This is the second-largest revenue source, with property taxes being the largest.

Follow On Google News

Share this news on your Fb,Twitter and Whatsapp

File source

Times News Express – Breaking News Updates – Latest News Headlines
Times News Express||USA NEWS||WORLD NEWS||CELEBRITY NEWS||POLITICS||TOP STORIES

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close