Business Briefcase: Tax revenues up 4.6 % in November

Business Briefcase: Tax revenues up 4.6 % in November

December 11th, 2011 by Mike Pare and Dave Flessner in Business Diary

Tax revenues up 4.6 % in November

Tennessee tax collections grew by nearly 4.6 percent from the year-ago level last month, raising $765.6 million, or $11 million more than what the state budgeted.

Tennessee's Commissioner of Finance and Administration Mark Emkes said the tax gain, which reflects October sales, "leads us to believe that growth during fiscal year 2012 will be moderate."

The gain reflected a 5.2 percent rise in sales tax revenues during November as consumers showed continued signs of freeing up their spending after the recession. But other taxes rose less significantly. With unemployment still above the U.S. average in Tennessee, Emkes said that "we must remain vigilant in monitoring our spending patterns.

"It's important to remember we won't see how 'Black Friday' and after-Thanksgiving retail sales performed until this time next month, when we've collected revenues for November spending," he said.

Realtors add award for George Kangles

The Greater Chattanooga Association of Realtors has established The George Kangles Community Citizenship Award to recognize local Realtors involved in governmental and public affairs for the real estate industry.

The award honors the memory of the late George Kangles, a former president of the Chattanooga Association of Realtors who was active for many years in public and political affairs for the Realtors.

"Presentation of the award will not necessarily be on an annual basis, but presented only to signal a distinct recognition of the most worthy recipients who meet the ideals embodied in the award," said Mark Hite, the incoming president of the local Realtors group. "George Kangles was a unique and extraordinary person, and we want the award to be symbolic of the qualities he stood for over many years."

Business Center seeks LEED status

The Hamilton County Business Development Center is going for Leadership in Energy and Environmental Design status.

The small business incubator recently underwent a nearly $5 million renovation, and it built environmentally friendly features into the project, said Kathryn Foster, who directs the Cherokee Boulevard facility for the Chattanooga Area Chamber of Commerce.

For example, she said, the facility vastly improved its energy efficiency. The Chamber, which manages the BDC for Hamilton County, expects to learn if it won a LEED badge next year.

Best ads compete for ADDY awards

The Chattanooga American Advertising Federation is calling for entries for its 2011-2012 Chattanooga ADDY awards, which is expected to attract more than 350 entries.

The annual competition honors advertising excellence in all media, including print, broadcast, digital, radio, outdoor and public service advertising. The best ads, commercials and displays are due for the competition by Jan. 6. Entry fees are $65 for members of the Chattanooga American Advertising Federation and $85 for non-members.

A distinguished panel of advertising executives will gather in Chattanooga during the weekend of Jan. 14 to select the winners. The ADDY awards will be presented during a black-tie dinner gala on Saturday, Feb.11 at The Chattanoogan Hotel.