Ada and Region Experience Long-Term Retail Sales Growth
The Center for Economic and Management Research in the OU Price College of Business produces a monthly retail sales series (Adjusted Retail Sales) containing estimates of retail sales for the largest Oklahoma cities. Because the series runs from 1988 to present, communities are capable of analyzing trends of their local sales. The series also is very helpful in that the seasonal fluctuations and sales from non-retail establishments are factored out of the figure resulting in a monthly number that best reflects retail trade within the community.
In 2010, Ada's adjusted retail sales grew by 2.5% over 2009 and ended up greater than $296MM for the year. The report states that retail sales in Ada grew by 21% over since 2005 and 38% over the last decade. Both rates would have been higher if not for the recent recession. In fact, Ada had one of the highest growth rates amongst cities of comparable size over the last five years. The entire region has done well with Ardmore, McAlester and Shawnee joining Ada with a five year double digit gain.
With the recent 2010 Census release, we are able to compare multiple communities without factoring population. Ada constantly remains amongst the top cities in per capita retail sales, which speaks to the pull factor that Ada merchants benefit from every month.
|
Ada Jobs Foundation Launches Redesigned Website
The Ada Jobs Foundation is excited to announce that after an extensive redesign process, a new website has been launched. The website was designed to meet the needs of prospects while providing vital information about the community to others. New information and content will be added weekly. Learn more about and see the new website at www.AdaWorks.org. |
|
Business Affected by Snow Storm Could be Eligible for SBA's Economic Injury Disaster Loan Program
Due to the snow storm of January 31, 2011, Oklahoma Department of Emergency Management and the Oklahoma Department of Commerce are reaching out to businesses to do preliminary financial assessments of any economic impacts to small businesses and to make recommendations for the Governor to request an Economic Injury Disaster Loan (EIDL) declaration from the U.S. Small Business Administration (SBA). This type of declaration results in SBA disaster loans being available to affected small business owners. Business owners who may be interested in the loan need to complete the Estimated Disaster Economic Injury Worksheet. Completing the EIDL worksheet is not an application for an EIDL nor does it obligate a business to apply for an EIDL. With this information, the Governor can request assessment for a possible Federal SBA EIDL declaration.
The SBA can make economic injury disaster loans available when a physical event causes substantial losses to a number of small businesses in an area, even though the physical damages may not warrant a disaster declaration. In these situations, the Governor may request an SBA Economic Injury Disaster Loan declaration by certifying that (5) or more small businesses have sustained substantial economic injury and cannot obtain financial assistance using other means. The SBA Economic Injury Disaster Loan may be used to pay fixed debts, payroll, accounts payable, and other bills that cannot be paid because of the disaster's impact. Disaster loans can provide vital economic assistance to small businesses to help overcome the temporary loss of revenue they are experiencing. Read More and Download Worksheet. |
