Retail Sales Show Sustained Growth
FARMVILLE – Total retail sales increased in Farmville by 2.38 percent in 2011, or by more than eight million dollars-$8,174,241.
The retail sales figures were made public during Town Council's May work session on Wednesday.
The increase was nearly identical to that of 2010, which tallied in at 2.42 percent. Therefore, 2011 retail sales sustained and built upon the rise in the local economy which began in 2010 following the 6.63 and 7.35 decreases in 2008 and 2009, respectively.
Total dollar volume, however, dropped by 6.73 percent in 2011, or by just over $37 million, though it was $19 million more than in 2009.
The category of contractors showed the biggest decline last year over the 2010 totals, dropping by $16.6 million.
Grocery stores saw sales fall by some $2.5 million, while restaurants benefitted from an increase of $1.7 million in business.
Retail automotive sales, which includes car sales and service stations, experienced a rise in business of more than $5.3 million.
The category Other Retail Sales, which doesn't include food and automotive sales, also increased, with a rise of more than $3.5 million.
Wholesale merchants had an increase in sales, too, of nearly $2 million.
Those providing professional services-doctors, attorneys, dentists, etc.-saw a boost in business of more than $1.2 million in 2011.
Hotels and motels rose by less than $200,000.
All Other Business fell by more than $31 million but to a level that was still $14 more than in 2009 and $24 million more than 2007 and 2008.
Total license taxes tallied $1.264 million, with the Town's revenue of $1,266,198 representing an increase of 1.08 percent over last year.