August 13, 2017

Nearly $200 million in commercial construction and renovation in the past five years has caused a shake-up in where Poplar Bluff shoppers spend their money. A recent city report shows that three new businesses have pushed their way onto the 2016 list of top 10 sales tax collectors...

Nearly $200 million in commercial construction and renovation in the past five years has caused a shake-up in where Poplar Bluff shoppers spend their money.

A recent city report shows that three new businesses have pushed their way onto the 2016 list of top 10 sales tax collectors.

These businesses represent just over half of all sales tax collections in the city.

The largest collector by far, Walmart Supercenter, saw a 16-year low in its hold on retail dollars. Meanwhile, JCPenney was nudged out of its longtime spot in the top 10 and dropped off the list altogether.

Newcomers Menards, Walmart Neighborhood Market and Harps have quickly climbed into the ranks of Poplar Bluff's busiest retailers.

City officials believe commercial development and infrastructure improvements are helping secure the city's place as a retail hub in Southeast Missouri.

Customers from the region dropped more than $490 million on retail goods purchased within the city limits in 2016.

The amount had not topped $450 million in the prior nine years, according to a June retail study by St. Louis planning firm Peckham Guyton Albers and Viets.

"The city captures approximately 95 percent of trade area residents," PGAV reported. "The city captures spending equal to total demand from 49,500 area residents."

That is nearly three times the actual population of the city.

These retailers are where those shoppers spend their money, and the percent of total sales tax collected (figures approximate):

Walmart Supercenter, 21.7 percent

Menards, 6.4 percent

Kroger, 5.6 percent

Home Depot, 4 percent

Walmart Neighborhood Market, 3.7 percent

Aldi, 2.6 percents

Harps, 2.1 percent

Gamblin Lumber, 2 percent

Kmart, 1.9 percent

Hefner Furniture, 1.5 percent.

Sales tax collector information is included in the 2016 audit, which has been presented to city council members and approved.

Walmart Supercenter saw a previous high of more than 28 percent of all sales tax collections, and had not fallen below 22 percent in the prior 15 years.

Menards jumped into the top 10 in 2014, after less than a full year of operation. It held the third spot for its first two years of operation.

Harps and Walmart Neighborhood Market made the list in 2016 for the first time. Harps opened in late 2014 and Neighborhood Market in early 2015.

The city saw a 19 percent, or more than $80 million, jump in taxable sales in 2014, the first year many new businesses opened, including Menards, Harps and Hobby Lobby, PGAV said.

While total taxable consumer spending saw a drop from nearly $523 million in 2014, the city is still capturing more dollars than ever before, the study shows.

Despite the increase in taxable sales, both city and county officials have said the sales tax revenue generated by shoppers at these businesses is not increasing dramatically. As of last week, year to date collections were level or slightly lower than the previous year.

A deal with developers of the Eight Points shopping area means local government gets a much smaller cut of sales tax revenues from purchases within the development. At least 50 percent of sales tax dollars generated there go to reimburse developers for certain expenses related to construction and improvements in that section of town.

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