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 | Findings of the Economic
Study Phase 1 |
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| 2012 Anacortes begins operating at a deficit if we don't develop new
sources of revenue. |
| 2015, an annual operating deficit of almost $1 million projected |
| Anacortes is forecasted to deplete its reserves by 2019, without any
change in revenue. |
| It is unlikely Anacortes will deplete its reserves. But
without an increase in revenues, Anacortes will need to reduce
services or increase taxes. |
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Overview: This economic and fiscal profile of the City
of Anacortes designed to serve as the analytic foundation of a broader
fiscal/economic strategy development process. The ultimate outcome of
this process will be an economic development and land use strategy that
will set the course for the community’s long-term fiscal sustainability.
An important first step in developing a comprehensive
fiscal and land use strategy is to assess the nature and extent of the
sustainability challenge. This entails developing a long-term forecast
of revenues and costs the City will face if it pursues the path it is on
today – the status quo. Once the extent of the fiscal challenge is
understood, the City can develop options for a fiscal strategy that will
enable the City to forestall the anticipated revenue gap.
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Elements of Taxable Retail Sales Analysis
- Total Taxable Retail Sales base
- Total Taxable Retail Sales per capita
- Taxable Retail Sales by industry sector
- Consumer Survey Findings
- Anacortes Land Base Analysis
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How much
retail sales are we missing? It depends on what market you believe
Anacortes serves.
1) Anacortes
2) Anacortes, Guemes &
Fidalgo Is.
-or-
3) Anacortes, Guemes, Fidalgo
and San Juan Islands
How much
retail space is needed to serve the retail market we are missing, and
what would we need at full build-out? Keep in mind that a Fred
Meyer type store is about 175,000 sq. ft. in size.
Note: The data above assumes 100% market capture,
which is unlikely. |
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