Hot Springs County Taxable Sales Fall–State Sees Overall Increase
Written by jordanmckamey on October 11, 2019
The Thermopolis Independent Record cites a report that showed a decrease in taxable sales in Hot Springs County.
According to a report released last month by the Economic Analysis Division of the Wyoming Department of Administration and Information Hot Springs County taxable sales were 5.9 percent less for the second quarter in 2019 compared to the second quarter of 2018.
Taking the state as a whole, taxable sales grew 7.8 percent. Increases occurred in most economic industries, with the fastest growth in financial activities sector which mostly reflects sales in automotive, machinery and equipment rental and leasing, experiencing a year-over-year expansion of 25.3 percent.
The mining sector — which includes oil and gas extraction — grew 13.2 percent due to increased sales of equipment, supplies, and services from new energy exploration and production activity.
However, the second quarter amount in mining was still 40.1 percent less than the figure for the fourth quarter of 2014 – before the energy downturn.