Growth across the board in sales, rooms, meals and alcohol were recorded in the latest reports from the Vermont Tax Department released today. The news was especially welcome after the disappointing first quarter reports.
The uptick in revenue marks the first quarter of town activity in the construction of the $5 million dollar multi-faceted Roundabout project designed to alleviate pedestrian and vehicular traffic issues and to improve the town's infrastructure.
For local option sales tax, the Town's revenues increased by 2.6 percent ($147,147 in 2012 compared to $143,392 in 2011); and for local option meals, rooms and alcohol tax, the Town's revenues increased by 3.1 percent ($64,846 in 2012 compared to $62,881 in 2011). This is the second consecutive quarter in which the Town's revenues exceeded 2011 revenues.
The second quarter is typically the lowest quarter for local option revenues. The strongest quarter tends to be the fourth quarter (Oct. 1 to Dec. 31 that includes foliage season and holiday shopping) followed by the third quarter (July 1 to Sept. 30 that includes the busy summer season and the beginning of foliage season).
"The numbers are very encouraging and perhaps signals a spark for what we may expect in the days and months to come," said economic development officer Pauline Moore. "With the completion of the Roundabout, we are poised to
Executive Director of the Manchester and the Mountains Regional Chamber of Commerce, Berta Maginniss, expressed similar sentiments.
"This is great news and great testimony to the customer service of the business community throughout Manchester and the Mountains - particularly this summer as we "construct" the Manchester of Tomorrow, Today."
Business leaders anecdotally report a strong summer season underway. The annual Sidewalk Sales last weekend brought many visitors to the area with hopes of finding bargains among retailers.
Again, the Vermont Summer Festival, which closed last weekend, added to the town's revenues with spending in the restaurants, lodging properties and shops during its six week residency.
For more information on the second quarter tax reports, contact the Town Manager's office at 802-362-1313 Option 2.