Sun Valley businesses have achieved something they haven't done in 12 months.
In April, businesses there made more money than the same time a year ago, according to the city's most recent local-option-tax report.
LOT is a barometer of the town's economy. All Sun Valley businesses impose a 3 percent sales tax on lodging, by-the-glass liquor sales and tickets to events in the city. A 2 percent tax is imposed on most retail sales and a 1 percent tax on ski lift tickets and season passes.
LOT is collected monthly. April collections of $46,700 were $2,700, or 6 percent, higher than those of April 2009—the first year-over-year increase in business since then. Lodging made a 31 percent gain over the same month of last year and liquor a 25 percent gain. Retail was down 5 percent, but it's also the largest sector of the economy, accounting for $28,700 in LOT, compared to $16,000 in lodging and $2,100 in liquor.
Even though businesses made more money in April than a year ago, they're still 2 percent shy of the month's $47,600 average, compiled using data back to fiscal 2001.
While Sun Valley's 2 percent gap in April LOT is a short hop, Ketchum's gap is un-leapable.
Ketchum was $37,000 shy of its $109,000 long-term average for April, a 33 percent chasm. And the majority of the resort area's business happens in Ketchum, evident in the fact that the average LOT collections are typically double those of Sun Valley.
Trevon Milliard: tmilliard@mtexpress.com
