Business Licenses and Permits

Revenues generated from business license applications, in addition to sales taxes, have helped one Alabama city weather the economic crisis in 2010.

While a significant portion of towns and cities of all sizes across the United States had a tough time over the past 12 months, the latest figures released by authorities in Oxford, Ala.,  show that the decision to up the cost of a business license was a wise one.

Indeed, citing the figures, the Anniston Star has reported that the Calhoun County city saw the amount of money raised through business licenses increase by around $95,000 to more than $3 million.

At the same time, the local authority also cashed in on a rise in commercial property values and steady streams of sales tax revenues, enabling it to avoid the worst of the economic downturn which started in 2008.

One local official told the newspaper: “When other cities were really hurt we hurt, but not as bad.”

The past 12 months also saw the opening of the Northeast Alabama Agri-Business Center, with the DeKalb County Times Journal noting that this has helped to further boost economic prospects in this part of the state.

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