Jensen: Prepare for the Whole Foods Market sales tax bonanza
April 24, 2014
The grand opening of Whole Foods Market in Frisco is scheduled for Tuesday, April 29. To quote an Aspen Times article on the opening of the Whole Foods in Basalt: "In the year since Whole Foods Market opened in Basalt, it's almost singlehandedly reshaped the midvalley retail scene." Some of the many significant benefits quoted include a tremendous increase in sales tax revenues, a spurring of additional development, and a challenge to "existing stores to improve their game plans." In the first 6 months of the opening in Basalt, sales tax revenue rose 21 percent. Retail food sales went up 34.2 percent. Some businesses in Basalt, particularly sporting goods, experienced their best year for five years.
I suggest we citizens and property owners in Frisco remain open minded. Shall we not start off with a negative bias, but instead sit back, give it a year, and then measure the effect on the town of Frisco's revenues and growth? I trust the citizens of Frisco to be fair and reasonably assess the effect of this change on our community.