While Virginia Department of Taxation taxable sales figures show a post-recession rebound for the state as a whole, Gloucester and Mathews counties have still not returned to their pre-
recession economic status.
In 2006, before the recession hit, businesses statewide had $89.48 billion in sales that were taxable, according to figures supplied by the Weldon Cooper Center for Public Service at the University of Virginia. Sales were even higher in 2007, at $92 billion. In 2009, that figure had dropped by 6.7 percent, to $85.87 billion in taxable sales.
But by 2013, the economic picture looked much rosier statewide. In terms of total economy, the state has surpassed its 2006 pre-recession status by 5.6 percent and its 2007 total sales by 2.8 percent, with $94.6 billion in sales in 2013.
However, the recovery hasn’t extended to some of the economic sectors that lost most heavily during the recession.
One of the largest economic sectors that declined statewide during the recession...
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