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State Representative Jim Buchy
Economic Growth
During the Holidays
Every year, Ohioans anticipate the busy holiday shopping season and the
great deals that come with it. What many don’t consider is the
impact that this shopping season has on the state’s economy.
Since 2010, Christmas sales have gone up 15.2% according to the Ohio
Department of Taxation, growing at a rate of 3.7% each year. Last
Christmas alone, Ohio brought in $240 million in sales taxes, meaning
$4.1 billion was added to the economy in November and December
2014. This was a 12.7% increase over the 2013 Christmas season.
The Christmas shopping season is an indicator of how our economy is
growing. It shows how much extra money families have to spend on
gifts and entertaining through this joyous season. The growth
that we have seen over the past several Christmas seasons is a great
sign for our state’s economy and the economic conditions our families
are facing.
As Ohio’s economy continues to grow, so do our local economies.
In the 84th House District, local sales tax revenues during the
Christmas season have consistently increased over the past 5
years. From Christmas 2010 to Christmas 2014, sales tax revenues
increased 17.2% in Auglaize County, 25.2% in Darke County, 23.2% in
Mercer County, and a whopping 61.2% in Shelby County.
This significant growth in sales tax revenues, both locally and
state-wide, indicates that Ohioans are better off today than they were
5 years ago. Our economy is growing, more people are working, and
people have more money to spend. More money is being pumped into
our local businesses which then translates into job creation.
Recently, a report by the Ohio Department of Job and Family Services
shows that unemployment rates in western Ohio are the lowest they’ve
been in 15 years. More people working means more money
circulating through our local economy.
The National Retail Federation predicts national Christmas sales to
grow another 3.7% nationally, making Christmas 2015 one of the largest
yet. However, I predict that this growth will be even greater in
Ohio. Ohio’s growth outpaces the rest of that nation, and
it is no accident. Governor John Kasich has led Ohio with strong
economic policies that encourage growth. I have served under 5
governors throughout my time in the legislature, and Governor Kasich is
among the best. As Ohio continues to bounce back, I am confident
that this will be one of the best Christmases we’ve ever seen.
Please give me your opinion on this topic and others in the news this
month by completing an online survey at tinyurl.com/buchydecember2015
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