People are spending more in the region. Here’s how it affects revenue.
This is a paid coin from the Sioux Metro Growth Alliance.
Simplified: The Sioux Falls metro area is growing rapidly, and with more people and more construction projects comes more spending. Here is an overview of sales tax revenue growth in the region from 2020 to 2021.
why is it important
- Metropolitan communities around Sioux Falls (not including Sioux Falls city limits) have seen a total sales tax increase of more than 16% between 2020 and 2021.
- This means a total of more than $18.5 million in revenue for these communities, and seven individual cities collected over $1 million in sales tax revenue.
- This gives local governments more money to work with when it comes to meeting community needs from infrastructure to parks to future planning.
“These numbers show the impact of more people coming to live, work and visit communities in the metro area,” said Jesse Fonkert, president and CEO of the Sioux Metro Growth Alliance. “This is one more indicator of the region’s strong growth and economic position.”
Let’s look at individual communities
Harrisburg saw the largest increase in sales tax revenue, about a 36% year-over-year change in 2021.
Just behind was Teawith an increase of nearly 35% in sales tax revenues for a total of nearly $3 million.
North of the metropolitan area, Baltic and crooks each increased sales tax revenue by more than 20%.
Brandon had the highest total sales tax revenue at nearly $4.5 million, an increase of about 18% from 2020.
Canton, Beresford, Lennox, Valley Springs and Worthing all also recorded double-digit increases.
And although the growth rate has not been so rapid in comparison Dell Rapids and Hartfordboth cities topped $1 million in total sales tax revenue.