County’s economic indicators improving
A number of key economic indicators are pointing in the right direction for Henrico County, and county officials are in a cautiously optimistic mood.
Among the most promising numbers: Henrico’s sales tax revenues were up 7.3 percent in April as compared to the same month last year.
“With this [recent] economic difficulty, consumers kind of batten down the hatches, and then at some point they decide enough is enough,” Henrico Finance Director John Vithoulkas said. “Residents got very cautious and now are starting to breathe and live their lives again.”
Each month since last fall, Henrico’s sales tax receipts have been 5 to 10 percent higher than during the same month one year earlier, Vithoulkas said. Henrico also experienced its highest December sales tax revenue in its history last year – an indication “that Henrico is becoming even more attractive to the regional resident,” Vithoulkas said.
Confirmation of that point is evident in the county’s per-capita sales during 2010, which were more than $15,369. Henrico, the sixth-largest locality in Virginia, also ranked second in the state in total sales last year, trailing only Fairfax County, the largest locality.
Perhaps the most encouraging sign to Vithoulkas and other county officials is the influx of new jobs to the county. Between last October and this February, 1,734 new jobs were announced or filled within the 21-locality Richmond-Petersburg Metropolitan Statistical Area (MSA); 1,325 of them were in Henrico County.
“Seeing this type of turnaround on jobs, both in number and in quality, is extremely positive,” Vithoulkas said.
Other positive signs for the county:
• new vehicle sales were up 8.2 percent during Fiscal Year 2010-11, through January, and used vehicle sales were up 3.6 percent;
• commercial real estate vacancy rates improved in six of seven major commercial corridors from 2009 to 2010, with the seventh (Parham East) only slipping slightly, from 1.3 percent to 1.6 percent.
The Varina Ruritan Club celebrated its 80th anniversary with a banquet Nov. 10, during which it presented several annual awards, including Policeman of the Year – to Henrico Officer Aaron M. Lancaster (top) – and Firefighter of the Year – to Julian T. Lipscomb (second from top).
The club also received a plaque from the Henrico Division of Fire (third from top) expressing the division's appreciation for the club and its support of fire prevention programs. > Read more.
The grand opening of The Rink outdoor ice skating rink at West Broad Village will be held Saturday, Nov. 14, beginning at 11 a.m. with skating and family activities. At 4 p.m., grand opening festivities – featuring exhibitions of ice sculpting, ice skating and cheering, as well as fire pits, costumed characters, and food vendors – will begin. Skating costs are $8 for children and $10 for adults, with $4 skate rentals available. Parking is free. The Rink is located at 3939 Duckling Drive, Glen Allen. For details, visit http://www.Facebook.com/TheRinkWBV > Read more.
Find out how your favorite dining establishments fared during their most recent inspections by the Virginia Department of Health. > Read more.
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Nov. 19, 2015Click here to read the print edition.
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CalendarHenrico County Public Schools is seeking input from interested members of the public on the FY 2016-17 HCPS budget.
The school division will develop a budget proposal using feedback… Full text