Retail Sales Fueling Sales Tax Revenue Increase

3-23-04 - New retail development looks to be paying off in Sherman and Denison. Both cities are well above their average in sales tax revenues for the beginning for 2004. Sherman reported an 11% increase from Jan ’04 to Jan ’03 while Denison reported a 20% increase during the same time period.

City leaders in both communities say it is likely a sign that the economy is rebounding locally and that consumer confidence is coming back. Sherman has added a massive retail complex at US 75 and Loy Lake Road, which should have an even bigger impact on sales taxes as more businesses open there during the coming months.