New Branson shops spur record tax revenues

Los Angeles-based Economic Research Associates, a Branson Landing consultant, had predicted that Branson’s existing retailers would see at least a 25 percent cut in sales during the Landing’s first year.

Sales tax revenues of $4.5 million through July are 8 percent higher than the same period last year. Tourism taxes are up 9.5 percent for the period, at $5.6 million.

Collection figures set records in April, May, June and July. Sales tax revenue was up 16 percent, 9.5 percent, 21 percent and 11.6 percent respectively in those months. Tourism tax revenue was up 6.7 percent, 6 percent, 9 percent and 9 percent, respectively.

Officials attribute the increases mostly to two large tax-increment-financing developments – Branson Hills and Branson Landing. But retail sales outside of the TIF districts are also up.

“Had existing businesses been negatively impacted, our revenues would have been stagnant or only increased a couple of percentage points,” Branson Administrator Terry Dody said in a news release. “Our numbers show that Branson Landing, built with a city and state TIF, is contributing significantly to a citywide economic boom.”

The city has used seven TIF projects since 1992 to spur economic development.