downtown

 

According to a Retail Trade Summary report prepared by the Illinois Institute for Rural Affairs (IIRA), Salem’s retail market supports much more than just Salem residents.

In 2013, the IIRA reports that Salem had per-capita retail sales totaling $29,063 ($213,613,404 all retail sales).  When compared to per capita retail sales reported for Downstate Illinois ($12,915 per capita), Salem had a pull factor of 2.25.  Extrapolating IIRA’s conclusions, Salem would need to have a population of 16,319 in order to generate the same total retail sales in 2013.

We think IIRA’s conclusions are based upon: (1) the importance of Salem’s retail market to residents outside of Salem’s corporate limits; and (2) Salem’s draw to motorists on both Interstate 57 and US Highway 50.  In other words, retailers considering Salem for location of their business should consider more than just the rooftops located in Salem.

 

 

 

 2013 Il Dept of Revenue Muni Tax2013 IIRA Report2014 IL Dept of Revenue Muni Tax2014 (using IIRA calculation)
General Merch$ -$ -$553,648.82$5,536,488
Food$213,910.56$21,391,056$219,960.79$2,199,608
Drinking and Eating Places$203,757.98$20,375,798$208,285.61$2,082,856
Apparel$14,410.51$1,441,051$14,891.10$148,911
Furniture, Household$ -$ -$11,166.50$111,665
Lumber, Building$20,400.63$2,040,063$23,363.29$233,633
Automotive & Filling Stations$674,156.64$67,415,664$705,714.57$7,057,146
Drugs & Misc$188,435.80$18,843,580$191,951.10$1,919,511
Manufacturers$35,820.76$3,582,076$38,214.31$382,143
Agriculture and All Other$242,631.35$24,263,135$241,987.60$2,419,876
$2,136,134.00$21,361,340$2,209,183.69$22,091,837