Lafayette Economic Development Authority said in a release this week that, with more than $607 million in sales in December, 2019 taxable sales reached $6.34 billion - the second highest on record.
The previous retail sales record was set in 2014 when sales topped $6.4 billion. Sales ended the year up 4.83% from 2018 and up 9.03% from 2017. The past twelve months have seen over-the-year increases.
"Holiday shopping met LEDA's forecast of $1.1 billion which is an encouraging sign for continued upward momentum. Taxable sales have increased each year since 2015," says Gregg Gothreaux, President and CEO of the Lafayette Economic Development Authority.
In the City of Lafayette, total taxable sales are up 3.89% and 15.55% in unincorporated areas of the parish. Sales are also up in neighboring municipalities - Broussard (1.57%), Carencro (13.59%), Scott (2.64%), and Youngsville (6.15%). Sales in Duson are down 11.41%.
Lafayette's year-end sales were up in the following categories: food, general merchandise, auto, furniture, building materials, services, and miscellaneous/other. Those increases from from 18.01% to 0.11%; apparel was down 1.81%.
"As we start a new year, it's important to remember that shopping in local stores keeps sales tax revenue in our community to support schools, jobs, roads and safety. Strong retail and service industries have played a key role in stabilizing Lafayette's economy the past four years," says Gothreaux.
Hotel-Motel receipts in December totaled $5,010,675 - 0.65% higher than December 2018. Total 2019 Hotel-Motel receipts are 4.38% higher than 2018.
Sales tax collection numbers are gathered by LPSS.
Taxable sales data are available online at www.lafayette.org/data.
