Angelina Economy Improves With Uptick in Retail Sales
Angelina County’s anemic economy continues to show signs of rebounding, with news that local shares of state sales tax revenues are up almost everywhere in the county.
April sales tax revenue brought welcome news across most of Angelina County, with all but one city reporting revenue increases when compared to April 2010. Hudson is the only municipality in the county to report less revenue.
It’s happening all over the state. State Comptroller Susan Combs says “This is the 13th straight month in which state sales tax revenue has increased. Business spending in sectors such as the oil and gas industry helped boost sales tax collections. Tax revenue from retail spending also showed growth.”
Retail sales and sales taxes are direct and reliable indicators of a city or county’s economic health. When sales and revenues are up, it shows people have confidence in the economy and in their own financial situation.
Larger local shares of retail sales taxes are good news for the cities that get them. Lufkin, for example, gets two thirds of the city’s tax revenue from that local share.