The Benicia Economic Development Board has released its annual sales tax revenue results for 2012, indicating increasing tourism as a main factor in downtown businesses' growing economic strength.
According to the recently released statistics, indentified tourism-related tax revenues for Q2 2012 are up 5.33 percent since the same time one year ago. The increase amounts to $48,672 in 2012 from $46,210 in 2011.
The findings compare downtown sales tax revenue to the past four years, noting the downtown area as the strongest over a three-month period. According to the report, Q2 2012 has reported the highest sales tax revenue since 2007, prior to the recession.
According to figures (which can be seen in this story's photo gallery) provided in the report, the statistics provide a direct comparison of Q2 downtown sales tax revenue over the past five years.
According to the report, "This indicates that the implementation of the tourism program has helped put the City of Benicia back on track to achieving pre-recession levels of sales tax revenue."