Communities that vote to allow beverage alcohol sales can expect millions of dollars in increased economic activity, hundreds of additional jobs and a steady source of new tax revenue, according to a new study by The Perryman Group.
“Our analysis found that even after all other economic trends and retail patterns are taken into account, there is a statistically significant increase in retail sales following a change from ‘dry’ to ‘wet’. And, an area can reasonably expect a substantial gain in retail sales taxes the year after approval of a local option alcohol election,” said Dr. Ray Perryman, president of The Perryman Group.
The 52-page study by the Waco-based economic and financial analysis firm measured the economic impact of beer, wine and distilled spirits sales on three hypothetical areas that changed from “dry” to “wet.”
(1) – A 25,000-person community with per-capita income 10 percent below the state average.
Net impact of all beverage alcohol sales:
• Almost $19 million in annual spending in local economy
• $10.8 million in economic output
• 185 jobs
• $429,000 in local tax receipts per year
The economic contribution of distilled spirits sales:
• $5.8 million in annual spending
• Nearly $3.3 million in output
• 55 jobs
• $123,000 in local taxes per year
(2) – 100,000-population city with average incomes equal to
state average.
Impact of all beverage alcohol sales:
• $90.1 million in annual spending
• $50.8 million in output
• 863 jobs
$1.9 million in local taxes per year
The economic contribution of distilled spirits sales:
• $27.8 million in annual spending
• $15.5 million in output
• 264 jobs
• $566,000 in local taxes per year
150,000-population city with per-capita income
20 percent above the
Texas average.
Impact of all beverage alcohol sales:
• $134 million in annual spending
• $79.7 million in output
• 1,366 jobs
• $3.1 million in local taxes per year
The economic contribution of distilled spirits sales:
• $43.2 million in spending each year
• $25.3 million in output
• 440 jobs
• $964,000 in local taxes per year
Local News
October 10, 2008
Study: Beverage sales can stimulate economic activity
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