City of Sonoma Economic Indicators Business Forecast Breakfast Forum March 14, 2008
Revenue Trends: Sales Tax and TOT City of Sonoma Data Source: MuniServices LLC; City of Sonoma
Taxable Sales 2007Q3 vs Q3 North Bay cities Data Source: MuniServices LLC
Taxable Sales Year Ending 2007Q3 vs. Year Ending 2006Q3 Data Source: MuniServices LLC
Per Capita Sales Tax Data Source: MuniServices LLC
Taxable Sales by Business Type Data Source: MuniServices LLC
City of Sonoma Top 25 Sales Tax Generators 8 Restaurants 4 Food Markets 4 Service Stations 4 Auto Sales 2 Drug Stores 1 Hardware Store 1 Department Store 1 Winery
Changes in spending patterns Ratio in 1980 of U.S. spending in grocery stores to that in restaurants: 2:1 Ratio today: 1:1 In Sonoma, it’s 1:2 Source: Harper’s Index
“Leakage” Department Stores, Restaurants, New Auto Sales, Food Markets, Wholesale Building Materials, Drug Stores, Furniture and Appliances, Retail Building Materials, Apparel Stores, Service Stations, Auto Parts, Miscellaneous Retail? Department Stores, Restaurants, New Auto Sales, Food Markets, Wholesale Building Materials, Drug Stores, Furniture and Appliances, Retail Building Materials, Apparel Stores, Service Stations, Auto Parts, Miscellaneous Retail.
Partnership Programs to support Retailers “Shop Sonoma Valley: Think Local First” Shopping environment Signage, banners, holiday decorations Services for Retailers Workshop Series 1-on-1 Business Counseling Rx for Business Façade Improvement programs “Tops in Sonoma” event
Revenue Trends: Sales Tax and TOT City of Sonoma
Room Nights Available and Rented
Occupancy Rates
New Business Licenses (with Sonoma address)
Goals: Support our existing retailers and industries during period of tightened spending Support start-ups Attract new businesses to complement our existing mix Retail niches, green sector, creative professionals Work with SVVB and other partners to continue to support our economic base.
City of Sonoma Sonoma County Sonoma Valley Chamber of Commerce