Car dealerships -- long-sought by cities as big tax revenue generators -- are struggling in the economic downturn. Nearly 600 have closed this year, and another 100 are expected to shut down by the end of the year.
"The National Automobile Dealers Association estimates 700 new-car dealerships will close this year, up from 430 last year, and taking with them an estimated 37,100 jobs. That is a heavy blow to a key piece of the U.S. economy. The country's 20,700 dealerships accounted for $693 billion in sales last year, or 18% of all retail sales, according to NADA. Dealership wages and salaries make up 13% of the nation's retail payroll."
"Similar scenes have been playing out around the country. According to NADA, 590 new-car dealerships this year closed through September."
"The markets most vulnerable to dealer closings are California, which has the most dealers of any state, followed by Texas, Pennsylvania and New York, according to NADA. In Michigan and Texas, dealer sales accounted for 20% of total retail sales in the states last year, the highest percentage of any states."
FULL STORY: More Car Dealers Shut Down
Florida Supreme Court Voids County Tax That Included Transit Funding
A proposal from Gov. DeSantis would require Hillsborough County to return revenue collected from the tax to residents who paid it and bar the county from using any remaining funds on transit projects.
Property Appraisal Caps Unlikely to Pass in Texas
Critics of a proposal to limit property value increases to reduce homeowners’ property tax burden say the measure would destabilize the housing market and cause cities to raise other taxes to compensate.
As Remote Work Persists, Ohio Cities Brace for Tax Revenue Losses
Cities like Dayton expect to see a reduction in income tax revenue as more remote workers begin paying taxes to their home jurisdictions.
Depopulation Patterns Get Weird
A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
California Exodus: Population Drops Below 39 Million
Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
Google Maps Introduces New Transit, EV Features
It will now be easier to find electric car charging stations and transit options.
Ohio Lawmakers Propose Incentivizing Housing Production
A proposed bill would take a carrot approach to stimulating housing production through a grant program that would reward cities that implement pro-housing policies.
Chicago Awarded $2M Reconnecting Communities Grant
Community advocates say the city’s plan may not do enough to reverse the negative impacts of a major expressway.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
City of Universal City TX
ULI Northwest Arkansas
Town of Zionsville
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