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LEDA predicts that taxable sales in Lafayette Parish will break records for 2021

LEDA’s forecasting model estimates total taxable sales could reach $7.37 billion in 2021, which would be the highest on record.

Posted: Nov 12, 2021 4:29 PM
Updated: Nov 12, 2021 8:12 PM

LAFAYETTE, La. (KADN)- According to the Lafayette Economic Development Authority (LEDA), taxable sales are still soaring in Lafayette parish bringing the total sales in September at over $600 million.

Some businesses in downtown Lafayette, like Hub City Cycles, believe that they are included in that number. Connor Ivy, an employee, said that business has been booming for them ever since the beginning of the pandemic.

“When the pandemic for a started it was a madhouse. There were lines out the door. Literally, we're talking like a literal thing and we didn't have any bikes we would sell out of everything,” Ivy said.

Taxable sales in Lafayette parish are 20% higher than they were in 2020 and 2019. Ivy added that he believes this especially since he sells about 12 to 20 bikes each week.

“Bikes are like, everyone wants them, but can't we can't get them. You know, so I mean, supplies aren't there, but the demand is shot up like 100% you know what I mean? So, I'm trying to sling bikes to everybody who wants them but I don't have enough in the store,” he said.

Ivy doubts that business is going to slow down any time soon especially since the holidays are approaching.

“We’re by the skyrocket. They want them all year round, even more so Christmas,” he said.

Handy Stop Market and Cafe recently opened during the pandemic and they have been seeing a steady increase in sales each month.

“Each month, we've had a steady increase in business. September was no exception. We had an increase over the previous month,” Bradley Cruice, the owner of Handy Stop Market, said.

Cruice believes his business had its greatest boom when the mask mandate was originally lifted earlier this year.

“We were able to maximize on that foot traffic and having a greater influx of customers coming into the store. Many first-time customers who have now become repeat customers,” he said.

Although business for him isn’t as busy as it once was, he feels that since sales in the parish are still on a rise right now is the best time for anyone to start a business.

“Jump, take that leap of faith, do your due diligence, do your homework and the hardest part is that first step and just keep going,” he said.

LEDA forecasts that taxable sales could reach over $7 billion in 2021.

Here are the rankings in taxable sales in each municipality in Lafayette parish:

1. Carencro at 39%

2. Youngsville 23.8%

3. Duson 24.3%

4. Lafayette 21.1%

5. Broussard 19.7%

6. Scott 17.6%

7. All unincorporated areas 17.9%

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