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Highway 21 economic district sales tax doubles in January after Costco opening; forecast raised to $1.3M–$1.4M
Summary
Monthly sales tax collections for the Highway 21 Economic Development District were $100,968 in January 2025, roughly double January 2024; staff said the increase is largely due to Costco and forecasted $1.3–$1.4 million for the year.
Annie, finance staff, told the committee that sales tax collections for the Highway 21 Economic Development District were $100,968 in January 2025, roughly a twofold increase from January of the prior year.
"As we talked about last month, most of that is due to the increase in collections in that area from Costco opening," Annie said. Staff said they expect the increase to continue for the remainder of the year and forecast total collections for the district of approximately $1.3 million to $1.4 million for the fiscal year.
Annie said the district sales-tax report includes three fiscal years of history and that staff appended state-law language about eligible expenditures and the meaning of "economic development project" to the bottom of the report for future reference. The committee did not take further action on the district report during the meeting.
