2018 Lafayette Parish Sales Tax Numbers Showing Positive Gains
As we sit midway through 2018, year-to-date sales numbers released by Lafayette Economic Development Authority show Lafayette Parish retail sales continuing to trend upward.
According to the report, April saw more than $485 million in sales. The numbers so far say taxable sales have reached $1.9 billion, up 1.3% from 2017 and up 3.4% from 2016.
"Retail sales continue to make up ground lost over the past three years. Our forecast for 2018, shows retail sales could reach $6.1 billion," says Gregg Gothreaux, President and CEO of the Lafayette Economic Development Authority.
Total taxable sales are up in neighboring municipalities:
- Broussard (10.8%)
- Carencro (18.3%)
- Duson (4.8%)
- Scott (19.9%)
- Youngsville (19.7%)
Sales are down 0.5% in the City of Lafayette and 18.2% in unincorporated areas of the parish.
Taking a closer look at the City of Lafayette, year-to-date sales are up in the following categories - Food, Auto, Furniture, and Miscellaneous/Other categories.
Year-to-date sales are down in the following categories - Apparel, General Merchandise, Building Materials, and Services.
"As retail sales trend upward, the overall economy is also moving in that direction," says Gothreaux. "As I've discussed over the past two years, our economic recovery will continue through 2020."
Sales tax collection numbers are gathered by the Lafayette Parish School System.