Some Cities Making Money During Economic Hardship
posted 9:03 pm Thu October 09, 2008
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Birmingham - Many people are looking for ways to stretch a dollar and save money.
But some mayors say revenue is up by hundreds of thousands of dollars.
Vestavia Hill's streets and shops were busy Thursday afternoon.
"A large majority of our area is restaurant and grocery stores. We feel like people are still going to eat," said Mayor Elect Alberto Zaragoza, Vestavia Hills.
Figures through August show 1.4 million dollars in revenue and nearly 60 percent from sales tax.
"I don't think there is a secret. It's just a matter of people here in Vestavia shop Vestavia and spend in Vestavia," said Zaragoza.
People are also spending at the new Bessemer mall.
"For the first time since anyone can remember, Bessemer is going to have a low 400,000 to high 700,000 [dollars] surplus," said Mayor Ed May, Bessemer.
Clothing store Ross is scheduled to open Friday morning, and more stores are on the way. Mayor May expects the mall will increase revenue by 1.2 to six million dollars, which could add jobs.
"We are anticipating starting a paving crew, which will mean we are hiring anywhere from 12 to 18 people," he said.
But both mayors are still not adding jobs right now and keeping their budgets conservative.
"We try to look at our budget and at some point, we might have to tell them to cut back, not to spend." said Mayor Elect Zaragoza.
"You have to treat the money a little better than you would treat your own," said Mayor May.
Alabaster also saw a 13 percent increase in revenue. Like other cities, the mayor is keeping the budget simple and not adding new jobs.
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