Moving Acadiana Forward: A rise in taxable sales and what it means for Acadiana

Moving Acadiana Forward

LAFAYETTE, La. (KLFY) — Taxable sales in June in Lafayette Parish reached almost $700 million. Sales were reportedly almost 23 percent higher in June of 2021 compared to June of 2020.

“This means that we’re going to have more revenue for our general fund for the city and parish and that’s great news,” Troy Wayman with One Acadiana explains. “I think what we’re seeing now is a significant amount of pent-up demand from 2020. We thought maybe it was an anomaly but apparently, it’s not because these numbers are continuing to increase.”

This is the second time in 2021 that Lafayette Parish came close to breaking the $700 million mark for taxable retail sales.  Wayman says at the beginning of the pandemic entities across the region made budget cuts in anticipation of significant shortfalls in sales revenue because of the pandemic. He says thankfully they didn’t see the catastrophic scenarios they were waiting for.

But that didn’t happen. Lafayette has seen record taxable sales income for the past several months, but some small businesses are still hurting because of the pandemic, which is why the La Nonprofit and Small business Assistance Program is offering up to $25,000 in coronavirus relief aid to small businesses with 50 or fewer full-time workers.

“Look at what our community has been through with the hurricanes, the flooding, the downturn of the oil and gas industry, and then the pandemic, and we are still kind of a shining light,” Wayman said. “Looking at the sales tax revenues, if that doesn’t give you some confidence in who we are as a community and as a culture then I don’t know what will.”

For more information on how the money must be used and how to apply visit https://esweb.revenue.louisiana.gov/SmallBusinessAssistance/Eligibility/?fbclid=IwAR0BYrWlx-_9aXWLWqdafHg1UE7VFx19FR_jbElsM9PiJUAipeY9LOjIc_o

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