LANCASTER – The city of Lancaster’s sales tax revenue for the third quarter of 2012 increased by 3.3% compared to the same quarter from the previous year, city officials announced Friday.
“The recent improvement in our local economy is good news for everyone, especially our small business owners who have been working hard to build and grow their establishments during these tough times,” said Mayor R. Rex Parris. “We strongly encourage all residents to support all of our local businesses by continuing to shop more right here in Lancaster.”
A look at economic performance across the state of California reveals an upward movement in the five largest economic categories. Construction and Business to Business are at a three-year high. Transportation and General Retail are at a four-year high, while Food Products are at a five-year high.
Over the past two years, from the third quarter of 2010 to the third quarter of 2012, Lancaster sales tax receipts show a 50 percent increase in Transportation (which includes auto sales), and a 17 percent increase in Business to Business.
In addition, the categories of Food Products and General Retail boasted 12 and three percent increases, respectively.
“We are encouraged by these sales tax results, which are consistent with our projections,” said City Finance Director Barbara Boswell. “As a City, we are again seeing the benefits of our diverse tax base, as well as our ongoing economic development efforts to support existing business, while working to bring a number of new businesses here to Lancaster.”
(Information via press release from the city of Lancaster.)