South Mississippi has 2 million reasons to be encouraged by the Coast economy after Monday's report that all 12 cities collected more sales tax in the state fiscal year that ended June 30.
Sales tax diversions for fiscal year 2013 were $2.1 million ahead of 2012, led by Biloxi's increase of $491,000. Gulfport also had a strong year, taking in $342,000 more than the previous year and D'Iberville was up by $241,000.
Monday's numbers from the Mississippi Department of Revenue follows last week's encouraging Business Owners Confidence Report from the Gulf Coast Business Council. For the second quarter of 2013, the confidence index of local business leaders reached its highest level in two years.
"When asked about the current economy (as compared to six months prior) the index reached its highest level in the six years which the survey has been administered," the report said.
The survey found that as the sales tax base in South Mississippi continues to grow, it reinforces business leaders' opinions that the Coast economy is improving.
Those who responded to the survey were more confident about the overall economy than they were about their own industry. While 28 percent said they plan to hire additional staff in the next six months, 20 percent said they are considering cutting staff.
The still cautious recovery of the economy also showed up in the report of June sales tax diversions for May sales.
Gulfport saw its best May sales tax revenue since 2009 while four other cities in South Mississippi had lower sales in May than a year ago.
Collectively, the 12 cities had $81,000 higher tax collections than in May 2012, although Bay St. Louis, Biloxi, Diamondhead and Ocean Springs saw decreases from a year ago.
Gulfport had the biggest gains -- up $68,000 from a year ago.
Source: http://www.sunherald.com/2013/07/15/4797565/sales-tax-revenue-continues-its.html
Allyson Felix
