Franklin County Retail Highlights
This report covers trends in retail sales tax, employment, and real estate. Key highlights include:
- Retail-based sales tax revenue for Franklin County grew by 7.3 percent from 2014 to 2015. Controlling for changes in the tax rate, this marks the best performance year on year since 2012.
- Despite the growth in retail sales, its share of sales tax revenue continues to decline (54 percent in 2015) as the county collects more taxes from services and other nonretail categories.
- The number of retail jobs in the county remains a quarter (26 percent) below its early 2000s peak. After a small recovery from 2011 to 2013, retail employment has been flat. -Meanwhile, e-commerce continues to fuel employment growth in logistics.
- Development of new retail space continues to be opportunistic and spotty across the market. The vacancy rate found new lows in recent quarters, but rents are not rising.
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