San Marcos survey finds top businesses going strong
The City surveyed many of its top 100 producers of sales tax revenue, and found that all of them anticipate growing or staying stable over the next year. None of the businesses surveyed expect a decline in operations or to reduce staff.
That forecast reinforces data that shows an economic uptick in San Marcos. The San Diego Regional Economic Development Corporation (San Diego Regional EDC) recently found that the City’s business inventory has grown 25 percent over the past decade, with about 4,000 businesses now contributing to a $7.9B economy.
“This feedback reinforces that our top businesses are doing well and poised for even more success,” said Economic Development Manager Tess Radmill, who helped oversee the survey in conjunction with the San Marcos Chamber of Commerce. “This is important in a bigger community context because sales tax revenue helps fund the high quality of life we all enjoy here in San Marcos.”
In fact, sales tax is the City’s second highest revenue stream—bringing in nearly $17M annually, second only to property tax revenue.
Launched in 2016, the survey is part of the City’s larger effort to boost economic development. Officially titled the “Business Walk Program,” this semi-annual survey is done via in-person visits, which give city staff and community members a chance to hear directly from business owners.
“Data tells a big part of the story, but these face-to-face interactions provide us the complete picture,” Radmill said. “We hear directly from the people who are running local businesses, businesses that are part of the community’s fabric and backbone of the local economy.”
“And many business owners don’t know that we can help them here at the city, so this is also an opportunity to raise awareness,” Radmill added.
For example, city staff can help businesses figure out if they qualify for any tax credits, and then guide them through the application process. Radmill says as a result of the Business Walk Program, she is now collaborating directly with many of the businesses she surveyed.
For more information about the Business Walk Program and the City’s economic development services, please contact Economic Development Manager Tess Radmill at TRadmill@san-marcos.net or 760) 744-1050, ext. 3120.