By the numbers look at Glenwood sales tax generation by business area
A look at retail sales across Glenwood Springs shows that the Glenwood Meadows shopping center far and away remains the city’s largest sales tax generator.
The commercial center — anchored by Target and Lowe’s, and with its downtown-style Market Street shops and restaurants — represented 22.4% of the city’s overall retail sales in 2018.
The city collected nearly $18.27 million in sales taxes across all sectors and geographic areas last year. Based on the city’s general sales tax rate of 3.7%, that figure represented roughly $493.6 million in total sales for the year — a 5.9% increase over the prior year.
Glenwood Springs finance officials further break that down by business area each year, to record which parts of town generate the most retail, restaurant and taxable service activity.
The numbers show Glenwood Meadows as the top sales generator, followed by the Grand Avenue corridor from 11th to 23rd streets, which would include City Market, Walgreen’s and several fast-food restaurants.
$18,265,460 — Total 2018 Glenwood Springs sales tax collections
$4,066,184 — Glenwood Meadows
$2,653,249 — Grand Avenue corridor, 11th to 23rd streets
$1,993,656 —Roaring Fork Marketplace
$1,884,883 —West Glenwood (not including the Glenwood Springs Mall)
$1,783,103 — Grand Avenue corridor, 7th to 11th streets
$1,729,075 — North Glenwood
$1,519,351 — South Glen Avenue corridor, 23rd Street to city limits
$680,222 — Glenwood Springs Mall
*Another $1,955,737 comes from a variety non-storefront vendors doing business in Glenwood Springs, including online sales for which the city has begun seeing sales tax returns.
Source: 2018 Glenwood Springs Sales Tax Comparison by Business Area report
Following those areas of town, in descending order, are the Roaring Fork Marketplace (Wal-Mart); West Glenwood (not including the mall); Grand Avenue from Seventh to 11th streets (downtown core); North Glenwood (hotel district); and the South Glen Avenue corridor from 23rd Street to the south city limits.
The Glenwood Springs Mall comes in a distant eighth in terms of sales tax generation by area, pulling in $680,222 in sales taxes for 2018. Retail sales at the mall have fallen 12% since 2016, according to the sales-by-area report.
Glenwood Springs City Council last year, in conjunction with the mall’s owner, declared the aging indoor mall and adjacent properties blighted. The city has formed an urban renewal authority to consider proposals for redeveloping the site or otherwise revitalizing the existing mall.
The report, which tracks sales by area for the past three years, shows that retail activity at Glenwood Meadows has dropped off slightly during that stretch of time, down 0.88%.
Downtown businesses that pay into the Downtown Development Authority via a tax increment financing mechanism, have seen a marked increase in sales activity during that time — up nearly 5.9% over three years, and up 10% last year compared to 2017, according to the report.
Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.