Local tax savings increases with tourism spending in Cabarrus County

County Spending by Domestic Visitors Increases by 6.73 Percent

(August 15, 2013) – Concord, NC – The North Carolina Division of Tourism, Film and Sports Development announced Monday that domestic visitors to and within Cabarrus County spent $362.97 million in 2012, an increase of 6.73 percent from 2011. Cabarrus County ranked 12th in travel impact among North Carolina’s 100 counties. Visitor spending increased in all North Carolina counties in 2012.

“Visitor spending is a critical part of fueling the local economy,” said Donna Carpenter, President/CEO of the Cabarrus County Convention and Visitors Bureau. “If not for state and local taxes generated by tourism in Cabarrus County, each household would pay $412 more in state and local taxes—a savings that has increased over 16 percent in the past four years. Though high traffic volume may be inconvenient at times, it is important to remember that tourism sustains local businesses and creates tax relief, jobs and income for residents. These factors all enhance quality of life which lures new businesses to our area and boosts economic development.”Tourism impact highlights for 2012:

• The travel and tourism industry directly employs more than 3,940 people in Cabarrus County.
• Total payroll generated by the tourism industry in Cabarrus County was $77.27 million.
• State tax revenue generated in Cabarrus County totaled $20.27 million through state sales and excise taxes, and taxes on personal and corporate income. Approximately $6.33 million in local taxes were generated from sales and property tax revenue from travel-generated and travel-supported businesses.

Gov. Pat McCrory announced in May that visitors to North Carolina spent a record $19.4 billion in 2012, an increase of 5.4 percent from 2011. These statistics are from the “2012 Economic Impact of Travel on North Carolina Counties.” The study was prepared for the North Carolina Division of Tourism, Film and Sports Development by the U.S. Travel Association.

Statewide highlights include:

• State tax receipts as a result of visitor spending neared $1 billion in 2012 and have increased 42 percent in the last 10 years.
• Visitors spend more than $53 million per day in North Carolina and contribute over $4.2 million per day in state and local tax revenues as a result of that spending (about $2.7 million in state taxes and $1.6 million in local taxes).
• The travel and tourism industry directly employees nearly 200,000 North Carolinians.