Record-Setting Profits in Sherman

1-14-05 – The numbers are in and the City of Sherman is reporting a record setting month for sales tax revenue.

New retail at the Sherman Town Center is credited for much of the increase. November was the most profitable month in Sherman’s history; sales tax revenue is up 14% from the year before.

City officials say Sherman has reclaimed dollars that used to go to Dallas or north of the Red River.

John Boswell, President of the Sherman Economic Development Corporation, says SEDCO is taking steps to ensure there is more growth in the coming months. Officials continue to work on new developments along Highway 75. The city is also encouraging more retail stores to move to the area.

The city is considering using the extra money to improve parks and building a new sports complex. The city council will ultimately decide where the tax dollars will be spent.