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Speakers say Van Alstyne's tax base is driven by industry; city investment totals cited
Summary
Economic development leaders said Van Alstyne derives much of its sales tax from industrial activity rather than retail, and cited roughly $30 million in recent city investment and an estimated $5'$10 million in private investment.
Speakers at the Chamber breakfast noted that, unlike many cities where retail dominates sales tax receipts, Van Alstyne receives a significant share of sales tax revenue from industrial businesses. Joy Grisham and the emcee discussed lumber supply and companies named in the transcript as examples of industrial contributors to the tax base.
"Most of our industrial, like lumber supply, Kirby Smith will get a big chunk of sales tax," Grisham said. She also said, "city's invested over $30,000,000 over the last several years," and estimated private investment in the downtown area at about $5 to $10 million. These figures were presented as broad illustrations of recent public and private investment trends.
