Jonesboro sales and use tax collections slightly decline for second consecutive month

For the second consecutive month, sales and use tax collections declined slightly in the city of Jonesboro and in Craighead County, the most populous county in Northeast Arkansas.

The city collected $2.041 million in April, a 1.7% ($34,885) dip from the same month in 2023, according to records from the city. It followed the month of March when $1.939 million was collected, a downswing of 4.3% ($87,231) from the same month last year.

To date, the city has collected $8.814 million, a 0.6% ($87,197) decline from the first four months of 2023.

There may have been a slight decline in the totals collected, but the projected budgeted amounts remain on pace. Collections are 0.4% ($36,899) ahead of budget.

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 healthcare, manufacturing, government, retail, agriculture and others. The city also is a nexus for those in surrounding counties seeking healthcare, and Arkansas State University is the region’s largest university and employer.

Craighead County had a similar sales and use tax collections pattern.

The county collected $2.345 million, a less than 0.1% ($3,000) decline from the previous April. In March the county collected $2.216 million, a 0.9% ($91,000) drop from the same month in 2023. Through the first four months, the county has tallied $10.073 million which is virtually tied with the amount collected during those same months the previous year.