Storey taxable sales booming
With business by Tesla, Panasonic, Google and other companies booming at the Tahoe Reno Industrial Complex, Storey County’s taxable sales increased more than tenfold in February.
The total taxable sales reported for the county rose from $18.3 million in February 2016 to $207.7 million this past February.
The biggest increases were reported in Professional, Scientific and Technical Services — from $6.7 million to $31.1 million — Machinery Manufacturing — from $135,573 to $14.5 million and Specialty Trade Contractors from $2.9 million to $10.7 million. A dozen smaller categories also saw significant increases.
But the biggest jump was in Merchant Wholesalers of Durable Goods that went from $2 million a year ago to $138.2 million this February.
Statewide, total sales increased 4.8 percent to just more than $4.2 billion. That included a 28 percent increase in Accommodations and an 18.5 percent increase in Construction Industry classifications. In all, 15 of Nevada’s 17 counties were up in February. Surprisingly, the two counties reporting a decrease were two that, normally, have been up throughout the recovery. Washoe County was down 6.8 percent to $549.4 million and Elko off by 9.2 percent to $101.7 million.
Carson City saw a 3.9 percent increase to $74.5 million for the month. Auto sales, the capital’s largest taxable sales generator, reported a 5.7 percent increase to $22.33 million.
But that was offset by a 5.1 percent decrease in the second largest category. General Merchandise Store sales fell to $10.5 million.
Despite the Legislature being in session, Food Services and Drinking Places reported a 3.6 percent decrease to a hair over $8 million and Building Materials sales down by 11.9 percent to $6.1 million.
Douglas and Lyon counties, however, had a strong month, both reporting double-digit increases.
In Douglas, $52.8 million translates to an 11.3 percent increase despite a 6.9 percent decrease in Food Services and Drinking Places, the largest category, to $11.8 million, and a 4 percent decrease to $6.6 million in the second largest category, General Merchandise Stores.
Those negatives were completely offset by the 200 percent jump in Merchant Wholesalers of Durable Goods — from $2.7 million to more than $8 million. No details were available to explain that increase.
Lyon County had a 16.2 percent increase to $31.4 million in February. Auto sales were up 24 percent to $4.16 million and Building Materials up 12.8 percent to $3 million. Again, Merchant Wholesalers of Durable Goods reported a large jump — 44.4 percent to $2.8 million. Finally, Plastics and Rubber Products Manufacturing had a huge jump to $1.99 million.
Churchill County was up, but by just 2.5 percent, to $20.36 million. The durable goods category was up 12.3 percent to $1.25 million and car sales by 15.9 million to $4.17 million. But Food Services and Drinking Places fell by 44.8 percent to $1.58 million.
Revenue collections for the month totaled $325.5 million, up 2.87 percent. The majority of those revenues go to local governments and school districts. The state’s General Fund share amounted to $84.7 million, a 5.82 percent increase compared to February 2016. That puts the state’s share of sales taxes at less than a percent below the fiscal year forecast used to build the state budget.