“An upscale two-block collection of retail stores in west Berkeley (Calif.) was doing well for many years, but revenues skyrocketed just after the Fourth Street Apple retail store opened in 2011,” Gary Allen reports for ifoAppleStore.
“According to a just-released economic analysis by the city, the store quadrupled sales tax revenues for the district over a two-year period, an increase unmatched by any category in any other city shopping district,” Allen reports. “‘
Allen reports, “In the report, the city’s economic development manager describes Berkeley’s 10 shopping districts, and notes the trends since January 2010. Within those districts, most category sales tax income was lackluster. Restaurants, service stations, and auto sales showed the most gains of any category, but only from 15% to 35% over the two years. However… Fourth Street, the category that includes the Apple store, increased from from about $45,000 in sales tax revenue in the second quarter of 2011, to about $205,000 in the first quarter of 2012, a 450 percent increase.”
Read more in the full article here.