(Charlottesville, Virginia – February 25) Total retail sales hit a record level over 2014 – $2.5 billion – in Albemarle County & the City of Charlottesville, according to complied Virginia sales & use tax data, the Charlottesville Regional Chamber of Commerce reported today. Total 2014 retail sales also rose in the City of Waynesboro, while sales in Augusta and Greene counties were flat and declined in Louisa County.
Virginia Department of Taxation sales tax data compiled showed that retail sales over the course of 2014 (January through December) compared to the full 2013 year, were up in Albemarle County +5.17%; up in Charlottesville +9.66%; and up in Waynesboro +4.07%. Total 2014 retail sales were flat in Augusta County -0.03% and in Greene County, +0.37%. Total 2014 retail sales were down in Louisa County, -2.97%.
Albemarle and Charlottesville, the region’s retail hub, accounted for $2.507 billion (+7.07%) in total retail sales over the full course of 2014; $142 million higher than in 2007, the previous record high total retail sales year; the last full year before the “Great Recession” of 2008-09 and subsequent slow economic recovery. Year-to-year, total retail sales in 2014 in Albemarle and Charlottesville produced an increase of $165.6 million where compared to the immediate previous year, 2013.
In addition to the retail associated jobs and private investment, a gain or loss in retail sales equates to a local tax revenue gain or loss. In 2014 total sales tax revenues in Albemarle County were $14.180 million; a year-to-year gain of nearly +$700,000. Total 2014 sales tax revenues in the City of Charlottesville were $10.894 million; a year-to-year gain of nearly +$960,000.
The 2014 Chamber Jobs Report data show that more than 18,200 jobs, 22.2% of all private sector jobs, within the Greater Charlottesville region, are in “Trade, Transportation & Utilities;” most of those in retail.
The Charlottesville Regional Chamber of Commerce is dedicated to representing private enterprise, promoting business and enhancing the quality of life in the Greater Charlottesville communities. Founded in 1913, today the 1,200 Chamber member and affiliate member enterprises employ more than 45,000 people in the Greater Charlottesville region, representing an estimated total payroll of more than $1.75 billion a year.