For the week of March 5 - 11, 2003

January business receipts were down significantly

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By GREG STAHL
Express Staff Writer

Ketchum’s economy is gradually grinding to a significant slow-down as it joins the national slump in business.

"Some of the numbers we’ve been getting in, we wish they were better," said Sun Valley-Ketchum Chamber of Commerce Executive Director Carol Waller.

Local sales tax receipts, which serve as a barometer for the local resort business environment, slipped significantly in January. Ketchum’s total local option tax collections for the month were off by $25,853, a 15 percent decrease from the previous year. January taxes on retail sales, which do not include lodging and liquor, slipped $26,018, a 25 percent slide from last year’s numbers.

Ketchum Mayor Ed Simon said January’s numbers are the most significant downturn he can recall. Simon said he has asked the city’s budget writer to adjust the 2003-2004 fiscal budget to accommodate projected shortfalls in local option taxes.

"What we’re seeing is the national situation has an overbearing effect on the Rocky Mountain states," said Councilman Maurice Charlat. "We’re just now getting the crunch."

Waller said consumer confidence is as low now as it has been since 1993.

"We’re not the only ones in this situation," she said. "The whole travel industry is feeling it. But we’re doing what we can to move that needle in a positive direction."

The chamber is selling a number of promotions, including one called "Too Good 2 Be True," which includes a two-night or longer stay and one-day lift ticket package starting at $145. The chamber is also partnering with Gart Sports in Boise for a co-promotion to encourage Boise area skiers and snowboarders to visit Sun Valley and Ketchum.

This year’s SolFest Big Air Exhibition also promises to be a significant draw, with film and television coverage by Fox Sports’ new television show, "54321," Standard Films and either Teton Gravity Research or Matchstick Productions. The film and television coverage is helping draw big name athletes, like C.R. Johnson, Sarah Burke and Phil Belanger.

Plus, the overall picture isn’t as poor as January might indicate. Ketchum’s fiscal year-to-date numbers are only off by 2.35 percent, a $17,927 difference from the previous year-to-date numbers.

"This is basically the end of the first quarter," said Ketchum City Administrator Ron LeBlanc. "I’m optimistic that, by the end of the year, things will balance out a little better. I think the community and the chamber have put into place some actions that will entice people to come here."

 

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