New Businesses Don't Always Have Big Financial Impact
YAKIMA -- Despite the economy, Yakima has handed out hundreds of new business licenses this year. So, you might be wondering; why our economy isn't booming. Action News analyzed the numbers.
The sweet sound of music has turned into a full time gig for Debra Hardy. She's one of the more than 700 businesses to get a license in the city of Yakima in 2009.
Action News pulled the numbers. Despite the sour economy, more than 2,000 businesses opened up here in the last three years. So why isn't our own economy booming with all this new business?
"Just very hard to track where those sales are coming from and where they go when businesses do come and go," says Cindy Epperson, city of Yakima, accounting & budgeting.
Turns out there's a big difference between what you pay and what you get. Of our 8.2% tax city of Yakima gets only gets .85% the majority goes right back to the state.
One trend we discovered is that 1/3 are out of town companies or home businesses like Hardy's music company. She had her license for a year and has about 45 students.
"It gives me a chance if I want to go pull weeds if somebody doesn't show I need to do laundry."
Action News asks,"Do you think it's been a success?"
"So far I do. The neighborhood was accepting people have commented how great it is to have something on the West side," says Leslie Paddock, Geppetto's Italian Bistro and Deli.
Geppetto's Italian Bistro and Deli opened up over the summer business is booming for their lunch time rush. But even a business this size doesn't bring in the big bucks.
Small business may be the engine that runs the economy, but it takes hundreds of them to impact the local budget.
The sweet sound of music has turned into a full time gig for Debra Hardy. She's one of the more than 700 businesses to get a license in the city of Yakima in 2009.
Action News pulled the numbers. Despite the sour economy, more than 2,000 businesses opened up here in the last three years. So why isn't our own economy booming with all this new business?
"Just very hard to track where those sales are coming from and where they go when businesses do come and go," says Cindy Epperson, city of Yakima, accounting & budgeting.
Turns out there's a big difference between what you pay and what you get. Of our 8.2% tax city of Yakima gets only gets .85% the majority goes right back to the state.
One trend we discovered is that 1/3 are out of town companies or home businesses like Hardy's music company. She had her license for a year and has about 45 students.
"It gives me a chance if I want to go pull weeds if somebody doesn't show I need to do laundry."
Action News asks,"Do you think it's been a success?"
"So far I do. The neighborhood was accepting people have commented how great it is to have something on the West side," says Leslie Paddock, Geppetto's Italian Bistro and Deli.
Geppetto's Italian Bistro and Deli opened up over the summer business is booming for their lunch time rush. But even a business this size doesn't bring in the big bucks.
Small business may be the engine that runs the economy, but it takes hundreds of them to impact the local budget.
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