Th e P ol k Pr o gr e s s U p dat e:
An Econom i c U p dat e f o r Polk Coun t y
JIM FARRELL
PH.D., CFA.
CFDC, FLORIDA
SOUTHERN COLLEGE
During the first
quarter of 2015, Polk
County's Taxable Sales
shrunk slightly (0.7%)
during the first quarter,
after adjusting for
seasonality. Since the 1st
quarter 2014, Taxable
Sales grew 6.6%, with
the bulk of the growth
coming in the 2nd and
4th quarters of the year.
This roughly corresponds
to national growth, with
GDP growth, nationally,
being slowed in the 1st
quarter in both 2014
and 2015. Most of the 1st
quarter effects are being
attributed to harsher than
normal winters. While
Polk County has not
experienced the weather
directly, it is impacted
indirectly through interstate exports and tourism.
Overall, Taxable Sales
continue to climb out of
the recession lows. They
have nearly recovered
from the recession overall.
Hotel/Motel Sales
continue to grow as well,
with 10.2% growth during
the 1st quarter, and 16.7%
since the 1st quarter
2014. This is reflective of
the growth in tourism in
the county and should
continue to grow with
recent opening of the
LEGOLAND Hotel.
Industrial electricity
usage (as sold by Lakeland
Electric) increased
substantially during the
1st quarter, growing 5.8%,
and growing 14.1% for
the full year since ѡ