GEDCO's Sales Tax Revenue

As reported about a month ago, the Georgetown Economic Development Corporation (GEDCO), derives its revenue from a share of the sales tax that the state rebates to the city.

A review of their tax revenue to date was presented yesterday as part of their regular meeting. Here is the growth of their sales tax revenue for the first 10 months of each year over the last five years.

Since sales tax revenues are allocated to the city two months in arrears, the amounts shown are through July 31.

GEDCO will receive in excess of $1.5M by the time fiscal year 2017 is over.

Over the last five years, the sales taxes allocated to GEDCO have been growing at a compound annual rate of 8.53%.