Edinburg retail economy from January to August 2015 shows almost 7 percent increase over same period in 2014

Edinburg’s retail economy from January through August 2015 is almost seven percent ahead of the same period last year, a figure that is better than the statewide average of all Texas cities, which came in with a 4.3 percent improvement year for the same eight-month period, the Edinburg Economic Development Corporation has announced. The EEDC, of which Agustín García, Jr. is Executive Director, is the jobs-creation arm of the Edinburg Mayor and Edinburg City Council. The EEDC Board of Directors is comprised of Mark Iglesias as President, Harvey Rodríguez as Vice President, Ellie M. Torres as Secretary/Treasurer, and Mayor Richard García and Richard Ruppert as Members. For the month of August 2015, the city’s retail economy registered a 13.89 percent rate of improvement over the same month last year, the EEDC added, according to data released on Tuesday, October 7, by the Texas Comptroller of Public Accounts. During the first eight months of 2015, Edinburg’s retail economy produced $16,812,351.02 in local sales taxes, compared with $15,753,379.17 for January through August 2014, representing an improvement of 6.72 percent. In August 2015, the city’s retail economy generated $1,671,788.87 in local sales taxes, compared with $1,467,867.49 for August 2014, representing an improvement of 13.89 percent, also according to the Texas Comptroller of Public Accounts. By comparison, the average rate for all cities in Texas dropped .04 percent in August 2015 compared with August 2014. The local sales tax is used in Edinburg to help pay for many city services, while the EEDC uses its one-half cent local sales tax to help generate economic development in the city. The amount of local sales taxes collected also helps reflect the strength of an economy, along with construction activities, per capita income, education, historical performances, and related trends. The sales tax, formally known as the State Sales and Use Tax, is imposed on all retail sales, leases and rentals of most goods, as well as taxable services. Texas cities, counties, transit authorities and special purpose districts have the option of imposing an additional local sales tax for a combined total of state and local taxes of 8 1/4% (.0825).

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Edinburg retail economy from January to August 2015 shows almost 7 percent increase over same period in 2014, reports Texas Comptroller

By DAVID A. DÍAZ
[email protected]

Edinburg’s retail economy from January through August 2015 is almost seven percent ahead of the same period last year, a figure that is better than the statewide average of all Texas cities, which came in with a 4.3 percent improvement for the same eight-month period, the Edinburg Economic Development Corporation has announced.

The EEDC, of which Agustín García, Jr. is Executive Director, is the jobs-creation arm of the Edinburg Mayor and Edinburg City Council.

The EEDC Board of Directors is comprised of Mark Iglesias as President, Harvey Rodríguez as Vice President, Ellie M. Torres as Secretary/Treasurer, and Mayor Richard García and Richard Ruppert as Members.

For the month of August 2015, the city’s retail economy registered a 13.89 percent rate of improvement over the same month last year, the EEDC added, according to data released on Tuesday, October 7, 2015 by the Texas Comptroller of Public Accounts.

Among its many duties, the Texas Comptroller’s office is the state’s chief tax collector, accountant, revenue estimator and treasurer.

During the first eight months of 2015, Edinburg’s retail economy produced $16,812,351.02 in local sales taxes, compared with $15,753,379.17 for January through August 2014, representing an improvement of 6.72 percent.

In August 2015, the city’s retail economy generated $1,671,788.87 in local sales taxes, compared with $1,467,867.49 for August 2014, representing an improvement of 13.89 percent, also according to the Texas Comptroller of Public Accounts.

By comparison, the average rate for all cities in Texas dropped .04 percent in August 2015 compared with August 2014.

The local sales tax is used in Edinburg to help pay for many city services, while the EEDC uses its one-half cent local sales tax to help generate economic development in the city.

The amount of local sales taxes collected also helps reflect the strength of an economy, along with construction activities, per capita income, education, historical performances, and related trends.

HOW OTHER VALLEY CITIES, COUNTIES PERFORMED THROUGH AUGUST 2015

Pharr, with an improvement of 12.81 percent from January through August 2015 over the same period last year, had a better year-to-date showing than Edinburg among the Valley’s larger city economies, the Texas Comptroller of Public Accounts reported.

The sales tax, formally known as the State Sales and Use Tax, is imposed on all retail sales, leases and rentals of most goods, as well as taxable services. Texas cities, counties, transit authorities and special purpose districts have the option of imposing an additional local sales tax for a combined total of state and local taxes of 8 1/4% (.0825).

Based on the amount of sales taxes generated, according to the state comptroller’s office, the Valley’s major cities ranked accordingly in the following local sales tax figures, both for January through August 2015, and for August 2015.

January through August 2015

McAllen: $52,783,331.22, up 1.05 percent compared with January through August 2014 ($52,230,833.08);
Brownsville: $30,309,280.63, up 3.02 percent compared with January through August 2014 ($29,420,230.04);
Harlingen: $18,432,793.73, up 3.02 percent compared with January through August 2014 ($17,891,997.41);
Edinburg: $16,812,351.02, up 6.72 percent compared with January through August 2014 ($15,753,379.17);
Pharr: $13,687,462.00, up 12.81 percent compared with January through August 2014 ($12,133,097.22);
Mission: $12,717,235.93, down 0.23 percent compared with January through August 2014 ($12,747,522.02); and
Weslaco: $9,893,215.14, up 2.31 percent compared with January through August 2014 ($9,669,714.50).

August 2015 compared with August 2014

McAllen: $4,743,107.24, down 1.46 percent compared with August 2014 ($4,813,584.03);
Brownsville: $2,726,877.29, down 4.29 percent compared with August 2014 ($2,849,341.93);
Edinburg: $1,671,788.87, up 13.89 percent compared with August 2014 ($1,467,867.49);
Harlingen: $1,644,280.70, down 4.85 percent compared with August 2014 ($1,728,228.11);
Pharr: $1,625,313.23, up 38.30 percent compared with August 2014 ($1,175,132.50);
Mission: $1,314,837.51, up 8.31 percent compared with August 2014 ($1,213,885.38); and
Weslaco: $816,520.77, down 9.95 percent compared with August 2014 ($906,767.38).

All cities in Hidalgo County reported a total of $12,426,919.88 in local sales taxes in August 2015, compared with $11,530,289.10 in August 2014, an increase of 7.77 percent. Year-to-date (January through August), all cities in Hidalgo County have registered $127,580,524.84 in local sales taxes, compared with $122,621,688.09 for the same eight months in 2014, an improvement of 4.04 percent.

Hidalgo County government does not collect a local sales tax.

All cities in Cameron County generated $5,509,355.02 in local sales taxes in August 2015, compared with $5,714,637.22 in August 2014, a drop of 3.59 percent. Year-to-date (January through August), all cities in Cameron County have registered $59,302,198.24 in local sales taxes, compared with $57,229,774.14 for the same period in 2014, an improvement of 3.62 percent.

Cameron County government does not collect a local sales tax.

All cities in Starr County produced $358,186.06 in local sales taxes in August 2015, compared with $378,961.88 during the same month in 2014, a decrease of 5.48 percent. Year-to-date (January through August), all cities in Starr County have registered $4,514,630.99 in local sales taxes, compared with $6,269,787.29 for the same period in 2014, a decrease of 27.99 percent.

Starr County government does not collect a local sales tax.

All cities in Willacy County produced $119,517.15 in local sales taxes in August 2015, compared with $124,138.51 during 2014, a decrease of 3.72 percent. Year-to-date (January through August), all cities in Willacy County have registered $1,289,398.54 in local sales taxes, compared with $1,305,867.28 for the same eight-month period in 2014, a decrease of 1.26 percent.

Willacy County government does not collect a local sales tax.

For details of the August 2015 local sales tax figures for all cities, counties, transit systems, and special purpose taxing districts, locate the Monthly Sales Tax Allocation Comparison Summary Reports at the comptroller’s website:

http://www.window.state.tx.us/taxinfo/allocsum/compsum.html

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For more information on the Edinburg Economic Development Corporation and the City of Edinburg, please log on to http://edinburgedc.com or to http://www.facebook.com/edinburgedc