This month the City of Eastland will be receiving its largest July sales tax refund in history from the Texas Comptroller in the amount of $136,076. Last month the City received $124,223 which was a record too. What is going on?
I’ll tell you what’s going on, we are all shopping at home like we should do all the time. When we spend money in Eastland, it stays in Eastland. If there is a silver lining to the Covid 19 pandemic, this could be it. The City of Eastland is on track to receive $1,445,106 from locally collected sales tax. This money can be spent to support first responders who keep us safe, for projects to repair streets and other city operations that make Eastland a desirable place to live.
Studies show that, on average, two-thirds of every dollar ($0.67) spent at small businesses in the U.S. stays in the local community. Further, every dollar spent at small businesses creates an additional 50 cents in local business activity as a result of employee spending and businesses purchasing local goods and services, according to the Small Business Economic Impact Study.
I applaud the citizens of Eastland for supporting local businesses during this difficult time. We need remember, when the pandemic is over, to keep shopping at home!
Eastland Economic Development, Inc.