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Archive for November 21st, 2010

21
Nov

Loss of State Fair didn’t hurt Lincoln coffers

This was the first year Lincoln did not host the Nebraska State Fair — but you wouldn’t know it by looking at amount of sales tax revenue flowing into city coffers.
Despite all those dire predictions that the loss of the State Fair would hurt Lincoln’s economy, the amount of sales tax revenue raked in by the city in August and September — when the State Fair was being held in Grand Island for the first time — actually went up during each of those months. In August, city sales tax revenue was up nearly 6 percent over the prior year, when the State Fair was still in Lincoln. And in September, revenue was up 2.4 percent.
Which makes it appear as though the State Fair doesn’t have nearly the economic impact on a city as some people might think.
In fact, sales tax revenue — and this should be good news for the state, since Lincoln is a big part of the engine driving the state economy — is rolling in quite nicely so far this fiscal year. The money is coming in nearly 4 percent higher than the city predicted — good news for the city budget. Let’s hope the trend continues.

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