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Advocate editorial board opinion: Economic signs suggest more investment should be made in community

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  • By the Advocate Editorial Board
  • Originally published November 26, 2011 at 6:36 p.m., updated November 26, 2011 at 6:36 p.m.

Indicators show that more investments are being made in Victoria. And the primary indicator is the latest information on sales tax receipts.

We are excited to see this concrete evidence that Victoria and the surrounding area are seeing an improved economy.

October's sales tax receipts for the city totaled $1.5 million, which is a 24.42 percent increase from last year in October. While that is a tremendous increase, the county also saw a 20.47 percent increase - even more good news.

State Comptroller Susan Combs recently stated that increases in sales tax were seen across the states. In fact, sales tax receipts totaled $1.87 billion, a 15.9 percent increase over last year at the same time, according to texasbudgetsource.com.

We are enjoying better investments than the majority of the state although the state also is seeing good increases.

While we are experiencing a good economic environment, it is not time - let us say it again - it is not time to stop investing. Quite the contrary, this is an opportune time to continue the investment in the Crossroads. With such a large increase in sales tax receipts, we urge more investment in our community because the rewards promise to be further increases in sales tax receipts.

Across the state, sales tax receipts almost match cities' property tax revenues, according to texasbudgetsource.com. The money comes from the state's 1,200 cities, including Houston, Dallas and San Antonio, three cities that rank among the 10 most populous cities in the United States.

In our area of Texas, much investment has reaped the increases in sales tax receipts, such as the $159 million bond package passed for the Victoria Independent School District, Port of Victoria expansion, University of Houston-Victoria expansion and investment in the downtown area - all investments in our community by the community.

We expect to see a surge of retail businesses, restaurants and apartment complexes from these self-investments, as well.

Again, we think it's a great time to continue investing in our community. We should see sales tax receipts continue to increase if we do.

This editorial reflects the views of the Victoria Advocate's editorial board.




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Comments

  • bighorn bighorn Report a ViolationReport a Violation Permalink  | 

    I like the positive statements such as "concrete evidence", and then offer that increased debt for the local taxpayers (in particular VISD and COV).

    EAGLEFORD SHALE is the unique reason this area is doing so well. Give credit where credit is due.

    November 27, 2011 at 9:55 a.m.
  • HookEm1 HookEm1 Report a ViolationReport a Violation Permalink  | 

    Editorial Board,
    It is interesting that the web site you refered to, twice, in your editorial ... texasbudgetsource.com ... has this article on its home page; "Trend Shown Deeper Red Ink in Local Government".

    This web site also states that, "spending by local governments in Texas has grown from $68B in 2000 to $104B in 2007 which is a 58% increase. During this same period population and inflation has grown by 34%."

    I agree with your statement that sales tax increases is "concrete evidence" that the economy in Victoria and surrounding area is improving (when factored for inflation).
    I disagree with your statement that this increase is the result of, $159M in debt for new schools, and increasing debt by the city for the other projects you list.

    A few million years ago the dinosaurs of South Texas 'invested' in the area by passing away and becoming shale oil. We are now 'reaping the benefits' of their investment.

    November 27, 2011 at 5:29 a.m.