2017 Spencer Comprehensive Land Use Plan

Spencer, Iowa  2017  Comprehensive Plan

Table 16 - Retail Trade Overview for Spencer, 2010-2016

FY 2010

FY 2016

%Change 2010-2016

Real retail sales ($ millions) Spencer

$275.7 $275.7

$296.1 $296.1

7.4% 7.4%

Clay Co.

-

-

-

State of Iowa

Average Sales Per Capita ($) Spencer

$25,483 $18,044 $12,281

$23,484 $16,536 $11,445

8.5% 9.1% 7.3%

Clay Co.

State of Iowa

Average Sales Per Firm ($)

FY2015

FY2016

%Change 2015-2016

$538,098 $446,669

Spencer

$525,927 $437,061

2.3% 2.2%

Clay Co.

-

-

-

State of Iowa

Source: FY 2014 Retail Sales Analysis & Report, ISU Extension ReCAP, Iowa State University Dept. of Economics

According to 2016 Retail Sales Analysis provided by Iowa State University Extension ReCAP, Spencer experienced retail sales of just over $296 million in FY 2016. This represents a 7.4% increase in retail sales since 2010. Since 2010, the retail data indicates Spencer is a community with a growing retail sector. The retail and service industries that comprise the commercial districts are vital to community development growth; similar to how manufacturing and industrial facilities are also needed in support of community economic growth. Commercial and retail activities are concentrated in two primary areas of Spencer. They are the Central Business District (downtown) and the Highway 71 south and Highway 71/18 corridors.

Figure 29 - Total Taxable Retail Sales in Spencer, FY07-FY16

Real Total Taxable Sales in Spencer (in $ millions)

290

$286.3

$284.9 $284.9

285

$278.5

$278.1

280

$275.5

$274.3

$274.0

275

$270.9

270

Total Taxable Sales in Spencer

$263.6

265

Linear (Total Taxable Sales in Spencer)

260

FY07

FY08

FY09

FY10

FY11

FY12

FY13

FY14

FY15

FY16

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NW Iowa Planning & Development