CONTINUED STEADY GROWTH
The Minnesota Department of Revenue releases sales tax information each spring for the year that ended about 15 months earlier. The latest information indicates that Fairmont’s taxable retail and service sales increased over 13% between 2010 and 2013, reaching an estimated total of $92 million. The largest increase in dollar sales was in the business category of general merchandise, reaching estimated total sales of $30 million in 2013. General Merchandise stores are also the largest contributors of taxable sales in Fairmont’s economy, with 33 % of all taxable sales.
Note: The data in this summary are not adjusted for inflation. Sales of building materials dropped significantly but the category that sells groceries and liquor continued their growth from 2008 through 2013. Health, pharmacy, and optical stores have strong attraction in the area. CLICK HERE to see the full report.