WALNUT RIDGE, Ark. – Business is booming in Lawrence County – at least in Walnut Ridge – where sales tax collections for the city jumped by more than 20 percent in a single month.
The numbers were reported on the City of Walnut Ridge’s Facebook page Wednesday morning, with Mayor Charles Snapp posting the good news. According to the post, based on the June 2016 City Sales Tax and Use Funds Distribution report, the City of Walnut Ridge net sales tax for June was 21.7 percent higher than May of 2016.
The rounded net numbers for May’s were $61,557.00, compared to June’s $74,857.00.
The positive economic news continues, however. On Monday, Snapp reported over $3.7 million dollars in construction had begun in Walnut Ridge since October, 2015. This includes residential and commercial but since the new jail project is scheduled for bidding to begin just this week, it was not included in those figures.
In addition, a new building is scheduled to go up on West Main Street, where the old Bailey Lumber Company building was torn down. It, too, was not included in those figures, Snapp reported.
And with Clark General Contractors purchasing the building under demolition at the industrial park, formerly referred to as the Krepp’s building, it, too, should provide for another boost in the area, Snapp said.
“Currently, my staff and I are working with the Lawrence County Chamber of Commerce and County Judge Dale Freeman on several other commercial operations that we hope to be in position to announce later this year,” Snapp said. “All in all, the united efforts of all involved are paying off with increased jobs and from what I can tell, increased sales tax revenue.”
Walnut Ridge’s portion of the county sales tax was up approximately 13% for June compared to the previous month.
Be the first to comment