How are we Doing?
Baseline: $145,668 (2012 Sample of 25 Businesses)
Most Recent: $140,706 (2014 Sample of 25 Businesses)
Why is this indicator important?
Sales tax is an important reflection of Downtown Olympia’s economy. Sales tax revenue is from activities ranging from business and education to communication and entertainment.
What influences this indicator?
Sales tax revenue is influenced by a variety of factors; including local market forces, regional and national economic policies; business and residential occupancy rates; culture and geography.
What are we doing about this?
The City of Olympia has taken several steps including the hiring of Economic Development Director Renée Sunde in 2015 and implementing a Community Renewal Area (CRA). The revitalization of Downtown has been a key area of focus for the City of Olympia for several years through the Downtown Project. Success has been realized though implementing integrated actions such as adoption of an Alcohol Impact Area, improved Alley Lighting and the Grow Olympia Fund for small business.
How do we measure progress on this?
Sales tax revenue is tracked monthly and reported yearly. The numbers reflected are from a sampling of 25 business Downtown across different sections. Analysis of the data will assist us in comparing change over time locally and regionally. Additionally the data will help us determine how Downtown revitalization is affecting consumer activity Downtown.