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'Wealth Halo' Seen in Strong Local Retail Sales

'Wealth Halo' Seen in Strong Local Retail Sales

  Sales tax receipts in Bexar County continue to soar, evidence of new wealth created by the booming Eagle Ford Shale, and the general economic growth in the region, 1200 WOAI news reports.

 

  Sales tax receipts for February in San Antonio, the best measure of retail activity, were up an amazing 16.4% over February of 2013, and year to date retail sales are up 21.4%.

 

  Even when you take into consideration the eighth-cent sales tax increase to pay for the Pre-K for SA program which kicked in in April of 2013, the figures show amazing growth in retail sales, continuing a boom which has now been going on for almost two years.

 

  By way of comparison, not everyone in Texas is feeling the economic boom.  February sales taxes in Harris County, which includes Houston, were up 8%, less than half of the growth in Bexar County.  In Dallas County, sales tax receipts were actually down, but that also may have been affected by colder than normal weather.

 

  The numbers are seen as evidence that the wealth coming into the area from the Eagle Ford shale is trucking down to everyday San Antonians.  Economists call this a 'wealth halo,' and it is seen in higher housing values, higher salaries, and increased retail spending.

 

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