Bars & Nightlife Business Development Food, Restaurants & Dining Music & Events Spotlight Travel, Shopping & Leisure Fara Illich August 15, 2013

downtown-night-smallThe City of Phoenix Finance Department has released sales tax data for the second quarter of 2013 and the results show continued vibrant growth in the Downtown area.
Revenues were up across the board when compared with the same quarter of 2012 with the largest increase coming in restaurant and bar revenue which showed an 11.0% increase in taxable revenue.
Hotel and motel revenue reported an 8.9% increase and retail sales gained 3.2% for an increase in the grand total of 8.3% when compared with the second quarter of 2012.
The increases were much higher when compared with the rolling year through the second quarter of 2012 (total of four consecutive quarters). The rolling year total retail revenues showed an impressive 35% increase with hotels and motels (22.0%) and restaurants and bars (14.0%) reporting significant gains as well. The rolling year grand total increased 21.0% when compared with the same time period from 2012.
These numbers show the growth we have seen in recent years to be strong and steady and investments made in the last decade are paying off. Downtown Phoenix is taking its place as the premiere business destination in the state and companies from a variety of sectors are reaping the benefits.
Despite the summer heat Downtown is still the place to eat and play.  Make August the month you finally check out that restaurant you have been hearing good things about or check out the Herberger Lunchtime Theater or Stand Up-Live.  You are officially invited!