More and more, Iola is becoming a shopping destination.
Don’t take our word for it.
According to the Kansas Department of Revenue, Iola’s “pull factor” from neighboring communities is getting stronger.
The state measures a city’s retail strength by dividing its per capita sales tax by the statewide equivalent to arrive at a City Trade Pull Factor.
A factor of 1.00 means a perfect balance of trade: The purchases of city residents who shop elsewhere are offset by purchases of out-of-towners.
Any value greater than 1.00 indicates local businesses are pulling in trade from beyond their home city more than locals are shopping elsewhere.
In 2009, Iola’s trade factor was 1.37; in 2013 it rose to 1.42.
For 2013, retail sales tax receipts for Iola and its part of Allen County amounted to $1,550,776.
Nearby Humboldt took in $300,014 in sales tax receipts; Chanute’s were $2,802,536.
The data can be further mined to show prospective retailers that southeast Kansas is a good place to do business.
VARYING factors contribute to a city or county’s good rating. The more isolated a community, the more likely residents will shop local. Ness County out west, for example, rates among the highest in the state for capturing retail sales. Likewise, Jefferson and Wabaunsee counties see their citizens flock to the more populous counties of neighboring Shawnee and Johnson.
None of the nine counties of southeast Kansas have a perfect balance of trade. Allen County has a pull factor of 0.83 and Neosho County is slightly more robust at 0.88.
The depressed figures likely reflect the state of economy.
As consumers, we can help bump those county statistics onto the positive side of the ledger by keeping our business at home.
