Every couple of months, I like to offer some insights on the Marble Falls economy. Not only does new information become available, but a growing and dynamic community such as ours will reflect the influences of many factors and trends, both internal and external. While our sales tax allocations have been very good, a deeper dive reveals an even stronger economy than what we’ve reported so far this year.
THE BIG PICTURE
Gross sales information for the second quarter of 2013 is now available. Across all industries, Marble Falls sales grew by $20 million to $189.9 million, for an increase of 11.7% over Q2 2012. This gross sales figure is 24.8% higher than Fredericksburg’s, 26.9% higher than Bee Cave’s, and 37.5% higher than Leander’s.
In the construction sector, sales in Marble Falls grew by 23.8% to $4.8 million—this amount is 44.3% higher than construction sales in Bastrop and 81.3% higher than those in Bee Cave. Retail sales in Marble Falls for Q2 2013 totaled $130.7 million, up 13.9% from Q2 2012. This figure is higher than Bee Cave by 16.8% and higher than Fredericksburg by 37.9%.
SALES TAX GROWTH PUTS MARBLE FALLS IN THE TOP 1.3% STATEWIDE
The November sales tax allocation set yet another record, making it 11 out of 12 months this year that Marble Falls has set a new standard for sales tax. The amount of new taxable sales so far this year is $34.99 million, which is more than the new sales in the cities of Lakeway, Bastrop, and Granbury combined; in fact, this total puts Marble Falls in the top 7% of all Texas cities in terms of sales growth. When we apply this measurement of growth to cities with established economies, Marble Falls is in even more exclusive company: out of 1,147 cities that collect sales tax, Marble Falls is in the top 15.
A BALANCED APPROACH
The November allocation, which represents September sales and quarterly payments for the 3rd Quarter, was strong across all sectors. The chart below shows growth by sector and market share.
Furthermore, economic growth continues to occur across businesses of all sizes. Of the top 100 generators of sales tax in Marble Falls, 74.36% had more sales in 2013 than in 2012. (Roughly speaking, the top 100 businesses generate at least $750,000 in annual sales.) 69.09% of the businesses in the next hundred—representing roughly $250,000 to $750,000 in annual sales—grew, and 68.27% of businesses ranked 201-300 increased their sales.
To explore what your business can do for Marble Falls, and what Marble Falls can do for your business, contact us by phone (830/798-7079), by email (firstname.lastname@example.org), or in person.