Annual retail numbers are up in Vance County
Taxable retail sales were up nearly 5 percent last year for Vance County.
Statistics for fiscal year 2011-2012 were recently released by the N.C. Department of Revenue.
Total taxable retail sales reaching $363,236,146 last year, surpassing the $345,642,236 for the fiscal year 2010-2011.
Retail sales in Vance County help grow the attractiveness of the community by presenting a thriving, marketable area to manufacturing companies and large corporations.
Growing numbers in this past fiscal year were largely due to the addition of several new retail stores, including Ollie’s Bargain Outlet, Big Lots, Dollar Tree and a new appliance store on Zeb Robinson Road.
So far in the amended fiscal year of 2012-2013, the monthly average of taxable retail sales is $28,656,790, slightly below last year’s average of $30,269,697.
Stuart Litvin, director of the Henderson-Vance Economic Development Commission, says their retail marketing committee has been working toward putting together a realistic list of retail companies that could be attracted to the area.
“Last year we came up with a general wish list,” Litvin said. “Now I’ve asked for a more realistic list that we feel we could attract to the area.”
The Henderson Investment Development Corporation also works with the county to provide loan assistance for new businesses in the area.
“We’re like a right arm for the Economic Development Commission,” said chairman Randolph Reese. “We’re more of a start-up type thing. If a company were to come in to Henderson or the county, and let’s say they wanted some type of incentives, then the county may come to us and say ‘Can you lend us money?’”
Reese says HIDC has not had a request for help in the last year.
John Barnes, president of the Vance County Chamber of Commerce, says while the chamber does not provide direct incentives for new businesses in the area, they do partner with other municipalities to support local business.
“We partner with Stuart and the Economic Development Commission,” Barnes said. “We partner with the county and do a lot of partnership with Vance-Granville Community College.
“All of these groups we work in partnership with each other, and that would also include the Downtown Development Commission and the Investment Development Corporation.”
The fiscal year of 2012-13 began in July with an above average monthly retail sales number of $31,364,762. The most recently released monthly total for the fiscal year 2012-13 was for November of 2012, which at $26,255,104 was the lowest it’s been since February 2012.
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