(Atlantic) The local economy is strong despite the sluggish U.S. economic outlook. Megan Roberts; Executive Director of the Atlantic Chamber of Commerce says Atlantic’s economy has been thriving compared to some cities comparable in size.
Roberts backs that up with the latest local option sales tax figures based on monthly disbursements. Roberts says Atlantics’ disbursement has only gone down two out of the last 12-years and continually sees a 2-to-5-percent increase.
“Which tells us our retailers are doing well and the business here is growing,” Roberts said. “We are coming up on the holiday season and October, November and December our highest local option sales tax receipts and another good indicator that tells us that many people are shopping in Atlantic and we hope that they continue to do so.”
Location option sales tax is split up several different ways in the community. Roberts says 25-percent goes to the Recreation Fund, (YMCA), 40-percent goes back to capital improvements including street maintenance, 7-percent goes into the promotion fund, and a progress fund is set up for the remaining 28-percent.
“So that all comes back to relieve property tax payers,” Roberts said.
September 26, 2012
10:00 a.m. news