Jonesboro’s sales tax collections still on record pace

Sales tax collections in the city of Jonesboro and Craighead County have maintained a record pace through the first 10 months of the year, but the collections are not keeping pace with budget projections.

The city collected $2.299 million in October, a 2.3% ($52,190) increase from the same month in 2024, according to the figures released by the city. It’s the most ever collected for that month.

For the year, the city has tallied $21.99 million in sales and use tax, a 0.5% ($115,278) increase from the first 10 months of last year.

The amount collected was 1.3% ($29,000) less than the projected budget amount for the month of October. To date, the city has collected 2.2% ($503,483) less than the budgeted projection for the year.

Sales tax figures lag by 60 days, meaning the numbers released were collected two months prior. Economists consider sales tax collections as a leading economic indicator, one that can show how a local economy can be expected to perform in the short term.

Northeast Arkansas’ hub city has a diversified workforce that has helped it to withstand national economic downturns in recent decades, according to officials. That diverse mix of jobs include health care, manufacturing, government, retail, agriculture and others. The city is also a nexus for those in surrounding counties seeking health care, and Arkansas State University is the region’s largest university and employer.

In Craighead County, collections were also slightly up. The county collected $2.656 million in October, a 0.7% ($71,000) increase from the same month last year.

For the year, Craighead County has collected $25.269 million in sales and use taxes, a 1.2% ($288,000) increase when compared to the first 10 months of 2024.