Lafayette sales tax revenue up 1.3 percent

Posted at 9:58 AM, Jun 13, 2018
and last updated 2018-06-13 10:58:38-04

Lafayette Economic Development Authority (LEDA) Press Release: 

With more than $485 million in sales in April, 2018 year-to-date taxable sales have reached $1.9 billion. Year-to-date sales are up 1.3% from 2017 and up 3.4% from 2016. 

Total taxable sales are up in neighboring municipalities- Broussard (10.8%), Carencro (18.3%), Duson (4.8%), Scott (19.9%), and Youngsville (19.7%). Sales are down 0.5% in the City of Lafayette and 18.2% in unincorporated areas of the parish. 

Within the City of Lafayette, year-to-date sales are up in the food, auto, furniture, and miscellaneous/other categories. Apparel, general merchandise, building materials, and services are down. 

"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. "As retail sales trend upward, the overall economy is also moving in that direction. As I’ve discussed over the past two years, our economic recovery will continue through 2020."