Advocate editorial board opinion: Economic signs suggest more investment should be made in community
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Indicators show that more investments are being made in Victoria. And the primary indicator is the latest information on sales tax receipts.
We are excited to see this concrete evidence that Victoria and the surrounding area are seeing an improved economy.
October's sales tax receipts for the city totaled $1.5 million, which is a 24.42 percent increase from last year in October. While that is a tremendous increase, the county also saw a 20.47 percent increase - even more good news.
State Comptroller Susan Combs recently stated that increases in sales tax were seen across the states. In fact, sales tax receipts totaled $1.87 billion, a 15.9 percent increase over last year at the same time, according to texasbudgetsource.com.
We are enjoying better investments than the majority of the state although the state also is seeing good increases.
While we are experiencing a good economic environment, it is not time - let us say it again - it is not time to stop investing. Quite the contrary, this is an opportune time to continue the investment in the Crossroads. With such a large increase in sales tax receipts, we urge more investment in our community because the rewards promise to be further increases in sales tax receipts.
Across the state, sales tax receipts almost match cities' property tax revenues, according to texasbudgetsource.com. The money comes from the state's 1,200 cities, including Houston, Dallas and San Antonio, three cities that rank among the 10 most populous cities in the United States.
In our area of Texas, much investment has reaped the increases in sales tax receipts, such as the $159 million bond package passed for the Victoria Independent School District, Port of Victoria expansion, University of Houston-Victoria expansion and investment in the downtown area - all investments in our community by the community.
We expect to see a surge of retail businesses, restaurants and apartment complexes from these self-investments, as well.
Again, we think it's a great time to continue investing in our community. We should see sales tax receipts continue to increase if we do.
This editorial reflects the views of the Victoria Advocate's editorial board.