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Apple Store boosts revenues for entire shopping district
There's an old saying that "A rising tide lifts all boats," but nowhere has the truth of that saying been demonstrated more than in Berkeley, Calif., where the opening of the Fourth Street Apple Store in 2011 quadrupled sales tax revenues for the district in which the store is located. That quadrupling is just in the sales tax category in which the Apple Store is placed -- "furniture and appliances" -- but the impact of the opening is apparent even when all of the various categories are shown together. As pointed out on ifoAppleStore.com, it appears that the Apple Store was placed into that category specifically to disguise its contribution to overall tax revenues. The website did a quick calculation based on the revenue trend and determines that the store will probably have about US$38.4 million in sales for the first quarter of 2013, more than twice the per-store average for all Apple Stores. A PDF copy of the City of Berkeley economic report is available for viewing here.
