Downtown tourism tax dollars back after pandemic
On Oct. 15, the Memphis City Council approved the city administration to ask the state to make the Sheraton a qualified public use facility — an essential step in some of Downtown’s captured sales tax paying some of the debt. (Patrick Lantrip/The Daily Memphian file)
Downtown Memphis’ finances continued to recover from the COVID-19 pandemic last year, according to financial documents obtained by The Daily Memphian.
The Downtown Memphis Tourism Development Zone saw its lowest losses since before the pandemic, indicating Downtown continues to recover economically. The growth in sales tax captured Downtown showed city taxpayers will not bail out Bass Pro Shops at The Pyramid, the Renasant Convention Center and other Downtown projects for the first time since the pandemic.
Topics
Subscriber Only Downtown Memphis tourism development zoneWe’re in the final countdown of 2025. ⌛🪩🎉
Will you make a donation before the ball drops on New Year’s Eve to fuel trustworthy reporting in the new year?
➡️ Make a fully tax-deductible donation or other contribution to The Daily Memphian, a 501(c)3 nonprofit news organization.
We believe an informed Memphis is a better Memphis. If you agree, join our growing list of donors now!
Samuel Hardiman
Samuel Hardiman is an enterprise reporter who focuses on government and politics. He began his career at the Tulsa World where he covered business and K-12 education. Hardiman came to Memphis in 2018 to join the Memphis Business Journal, covering government and economic development. He then served as the Commercial Appeal’s city hall reporter and later joined The Daily Memphian in 2023. His current work focuses on the intersection of government, public policy, influence and how public dollars are spent.
Comments
Want to comment on our stories or respond to others? Join the conversation by subscribing now. Only paid subscribers can add their thoughts or upvote/downvote comments. Our commenting policy can be viewed here.