Business Times of Edmond, Oklahoma September 2018 - Page 4

From the Editor ‘You’re doing fine (economically) Oklahoma …’ T o the Readers: Did you know the State of Oklahoma has seen an increase in revenue collections in virtually every sector of the economy? And, Edmond is no different. Both entities are experiencing record collections due to a vibrant economy, some of it fueled by local business activity. If you haven’t read State Treasurer Ken Miller’s monthly report you need to read it. Miller reports that revenues in many categories are up by more than 8 percent in 2018 when compared to the same month in 2017. Our state has come a long way in a short time, and Miller said all signs point to continued expansion of the economy. Edmond City Manager Larry Stevens said retail sales, use taxes, and fees are all up this year when compared to the same time last year. These numbers are a direct reflection of shopping and business activity in Edmond. In his July report, Stevens told the city council that Edmond sales taxes were about 5.4 percent above the same month last year. Use tax reimbursements from the state were up 22.2 percent. Cumulative use and sales tax revenue was up 7.8 from the same period last year. These are significant numbers. 4 September 2018 | The Business Times “That is now the 14th consecutive month from the previous year’s month that we’ve seen an increase,” Stevens said. This is in stark contrast to numbers from 2016 when the City was on a zero budget growth projection. Small business optimism is also at an almost record high, according to information from the National Federation of Independent Business. The Small Business Optimism Index they record was within 1/10th of a point of the record high set in July 1983. This index measures job creation plans and job openings. NFIB State Director Jerrod Shouse said, “This is important because it means small- business owners believe the economy is strong and stable, and that means they’re more likely to add jobs and grow their companies.” With the economy in expansion, business on the increase and optimism at a high, it’s a great time to be either opening a small business or already in business in Oklahoma. In this month’s issue of The Business Times, we’ve given you a look at several small, local businesses that are enjoying being a part of our vibrant local economy. We hope you enjoy reading. MARK CODNER is the editor of The Business Times of Edmond