Tri-Cities sales tax collections post another increase


 

By DON FENLEY

Tri-Cities sales tax collections continued show year-over-year gains in February.

Kingsport-Bristol outperformed the Johnson City MSA for the fourth straight months in year-to-year sales tax collections in February. Together, the two MSAs that make up the Tri-Cities had a grain greater than the state and the second best in East Tennessee. Morristown was last month’s standout.

According the MTSU’s Bureau of Economic Research here’s how last month’s year-to-year seasonally adjusted collections looked in the region:

Morristown MSA – up 10%.

Kingsport-Bristol – up 9.4%.

Johnson City MSA – up 8.7%.

Knoxville MSA – up 8.3%.

Statewide, collections were up 7.7%.

Tri-Cities collections – the sum of its two MSAs – have been positive on the year-to-year metric since October with the four-county Kingsport-Bristol area showing the largest increased. However, as the chart illustrates, Kingsport-Bristol’s trend line has been more volatile that what’s seen in the three-county Johnson City MSA, which has been positive for nine straight months.

The head-scratcher that comes with the data is wages in the Johnson City MSA have declined for two years and the weekly average for private sector workers ranked the lowest in Tennessee in January.

The weekly average wages for February will be available later this month when the household and employer employment and job survey annual revisions are released.

Feb2014

Year-to-year seasonally adjusted sales tax collections form MTSU’s Bureau of Economic Research.

 

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