Marijuana dispensaries give Frisco a boost
April 19, 2010
FRISCO – Despite Frisco’s February sales taxes still being down, funds collected exhibited some encouraging growth.
According to revenue specialist Chad Most, Frisco was 0.7 percent down over February of 2009, or just over $3,000 down. Year-to-date, funds were just “a hair over 4 percent down from last year, year-to-date.”
January 2010 revenues were down 7.13 percent, and January 2009 collections were down 12.87 percent from 2008.
“That’s some positive news,” Most said. “We’re getting closer and closer to flat.”
Categories exhibiting growth in Frisco include restaurants (up 5 percent), health and beauty (up 209 percent), recreation (up 13 percent) and utility (up 6 percent).
“In health and beauty, a couple businesses – in particular medical marijuana dispensaries – added to the significant growth,” Most said, adding that it was such a small category before that any new sales would boost it significantly.
Most also cited new restaurants in Frisco as the cause for the category’s February growth. Even so, the town is still seeing large declines in categories such as lodging and grocery sales.
“It’s taking longer to stabilize than initially hoped,” he said.
While colletions seem to be stabalizing, the Town of Frisco hopes to increase its 2010 sales tax acquisitions with revenues generated from the peninsula recreation redevelopment project – a new tubing hill could potentially be open for Thanksgiving.
“We’re certainly moving in the right direction,” Most said. “We’re hopeful that in March we’ll see things flat or with a little bit of growth, and then we hope to be stabilized for the rest of the year. I’m hearing on the street that things seem to be stabilizing a bit.”