Predicting Revenue in Unpredictable Times: The Outlook of Major Revenue Sources

As the country teeters towards a recession, states and municipalities are already facing significant budgetary shortfalls. Across nearly every tax category in most jurisdictions—city, state, and national—incoming revenue is falling below expectations.  The Fiscal Survey of States, released in June by the National Association of State Budget Officers, reports that the budget offices of 20 states expected overall budget deficits due to disappointing tax revenues. With the country’s economy weakening significantly in the past few months, it is likely that a majority of states will face fiscal difficulty by the year’s end. Cities and counties, particularly those hardest hit by the housing market crisis, may face an even greater challenge in budgeting as the property tax base will inevitably decline. Strategic economic development has never been more important to ensuring the financial viability of communities across the United States.

This article, written by AE's John Rees, Director of Research, and Leigh Schroeder, Business Development Manager, analyzes the impact of declining sales, income, and property taxes on city, state, and national budgets. Click here to continue reading.

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AE introduces new team members

Over the coming months, AngelouEconomics will be highlighting its staff in our newsletter. Our hope is to introduce you to our team and to the unique strengths and experiences each person brings to our organization.

Chris Carucci is a Project Manager at AE, specializing in economic development strategic planning, community facilitation, downtown and commercial revitalization, and business retention and attraction strategies.  Prior to joining AE, Chris was the founding Executive Director of a downtown economic development organization in Kansas City. In his role as Executive Director, Chris successfully created and implemented a range of economic development initiatives, as well as oversaw all organizational operations. Chris has managed a wide range of economic development projects including major capital improvement projects, business recruitment and attraction initiatives and established and managed several business improvement districts.

Leigh Schroeder joined AE in September as its Business Development Manager. Prior to AE, Leigh worked at North Central Texas Council of Governments where she focused on developing revenue sources and public outreach for the Rail North Texas effort. She has also worked at a non-profit where she focused on developing corporate and government sponsorship. Leigh’s experience in revenue development, public outreach, and research is invaluable to AE’s efforts to identify, understand and ultimately develop relationships with strategic partners and future clients.

Please click here for information about our entire team.

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If you would like to learn how we can assist your company or constituents,
please email AE's Leigh Schroeder.