$1 million in tax revenues being used to attract tourism and larger developers to Quincy
QUINCY (WGEM) - The City of Quincy has collected $1.5 million dollars from its Food and Beverage and Alcoholic Beverage Tax in a year.
A report from the city’s planning and development department said the city established the 1% tax in January of 2021.
Mayor Mike Troup said the revenue generated from the tax has been used to attract more people to Quincy via tourism, helped pay for housing for people who relocate and join the workforce, as well as bring global developers, such as Target.
”A million dollars of the 1.5 million that we collected is a part of an incentive that we did use to actually attract a developer to Quincy. That’s converting the Kmart property into a new target store,” Troup said. “So I think that’s money well invested into the community.”
The tax ordinance is set to end on April 30, 2025.
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