Well, this news bucks a
You'd have to dig into the numbers a little more to know whether these numbers are a fluke—maybe attributable to some big one-time purchases—but even if it that's the case, it's a happy fluke.
From city of Santa Fe press rep Laura Banish:
Santa Fe Gross Receipts Tax Revenues Up
Santa Fe Gross Receipts Tax (GRT) Revenue is up 1.37 percent from the same reporting period a year ago, according to the April report from the State of New Mexico Department of Tax and Revenue. This marks the City of Santa Fe's first positive gross receipts tax report of calendar year 2009.
Month to month GRT comparisons are very volatile, but this news breaks a pattern of three consecutive months in which GRT declined between 6 percent and 12 percent each month in comparison to the same period last year. The April report represents GRT revenues from sales activity that occurred in February. February is traditionally one of the slowest sales periods of the year, making this news particularly striking.
The report showed that retail activity was up 11 percent...
More after the cut.
The City of Santa Fe and community partners have been promoting consumer awareness of the importance of spending money locally. This effort began with the "Home For the Holidays" campaign in December 2008 and has continued with the "Santa Fe Buy Into It" consumer confidence campaign. The "Buy Into It" campaign encourages individuals and businesses to spend money for goods and services locally whenever possible. The campaign is designed to provide support for the local economy by re-circulating dollars and taking advantage of the multiplier effect.
"I am encouraged by the positive report in Gross Receipts Tax Revenue. The increase, while small, is a sign of hope in these daunting economic times," said Mayor David Coss. "While our Convention and Visitors Bureau and Economic Development Department work with local hotels, businesses and our new airline service to draw new tourism dollars to Santa Fe, each one of us can play a role in reviving the Santa Fe economy by spending money locally."
The "Santa Fe Buy Into It" campaign was designed collaboratively by local advertising companies together with the business community, media representatives, and the City of Santa Fe Economic Development Department.
Santa Fe residents and businesses are encouraged to "Buy Into It" and submit their local purchases to the campaign website, Buyintoit.org.