The city of Sherman is looking at record breaking numbers when it comes to sales tax revenue over the past year. Much of that can be credited to a massive expansion of retail developments within the city.
Since October of 2005, sales tax revenue increased by 49 percent. It’s the highest jump the city has ever seen.
After going through hard economic times in 2000, revenue has been on a steady incline. The Sherman Economic Development Corporation credits the number of retail stores opening up, the low unemployment rate, and a stronger economy.
The area around Sherman town center is under major construction right now to handle the extra traffic. The city says they will continue keeping the momentum going and are hoping for an even bigger jump next year.