(Charlottesville, Virginia – November 22) The Charlottesville Regional Chamber of Commerce today released retail sales tax data showing retail sales up in Albemarle, Augusta, Charlottesville, Fluvanna, Greene, and Louisa. Only Waynesboro saw a sales decline. Retail sales in the Albemarle – Charlottesville hub have increased +5.91% over the first three quarters of 2016 compared to the same period in 2015 and are poised for a third straight record retail sales year.
“Once again, as we head into the peak of the Holiday Shopping Season, the Albemarle-Charlottesville retail hub is on pace for another retail sales record year,” noted Kristina Hofmann, Esq., Partner at Payne & Hodous, LLP, who serves as Vice Chairwoman – Economic Vitality of the Chamber Board of Directors. “If the Holiday Shopping Season sales, from October 1st through December, track previous years, our retail hub could very well see an increase of $100 million or more in total retail sales. Calendar 2016 can top last year’s record retail sales of $2.58 billion.”
Virginia Department of Taxation sales tax data compiled showed that Albemarle and Charlottesville, the region’s “retail hub,” accounted for $1.992 billion in total retail sales over the first three quarters of 2016; in the aggregate an increase of +$111 million compared with the $1.881 billion in total sales over the same period in 2015. Retail sales over the first three quarters of 2016 increased in Albemarle County by +6.45%; and within the City of Charlottesville by +5.22%.
During the first three quarters of 2016 (January – September) compared to the same period in 2015, retail sales increased: in Augusta County +5.70%; Fluvanna County +17.45%; Greene County +11.59%; and, Louisa County +9.15%. Only Waynesboro, -2.69%, reports a decrease.
In addition to the retail associated jobs and private investment, a gain or loss in retail sales equates to a local tax revenue gain or loss. Over calendar year 2015, $25.877 million were collected locally in total local retail sales. Of that, Albemarle County collected total local retail sales taxes of $14.62 million; a year-to-year gain of nearly +$450,000. The City of Charlottesville collected total local retail sales taxes $11.244 million; a year-to-year gain of nearly +$350,000.
According to the 2016 Chamber Jobs Report, the employment reporting sector of “Trade, Transportation & Utilities,” holds Greater Charlottesville’s largest segment of private enterprise jobs, 17,183 or 19.9% – created through private investment and general commercial activity.
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, today the 1,200 Chamber member and affiliate member enterprises employ more than 45,000 people in the Greater Charlottesville region, representing an estimated total payroll of more than $1.75 billion a year.
