Business

Missouri Revenue Growth Slows A Bit, But Still Trending Upwards

St. Louis Public Radio | By Marshall Griffin,

Marshall Griffin

Published June 4, 2013 at 5:18 PM CDT

Revenue collections in Missouri slowed a bit last month, but continued their overall upward trend.

From July of 2012 through the end of May, the state took in $7.3 billion in revenues, an increase of 10.4 percent from May of 2012. The year-to-date increase from April of this year, though, was 11.2 percent. Missouri Budget Director Linda Luebbering blames it on a drop in sales tax collections.

"People are still a little bit concerned about spending a lot of money, given the economy and the uncertainty at the national level," Luebbering said.

Luebbering added, though, that personal and corporate income tax collections continue to rise, enough so to continue the upward revenue trend.

"We've definitely had some really good months this year," Luebbering said. "We've been kind of on a little bit of a roller coaster...we had a lot of growth in April…I always look at the year-to-date numbers more than anything else, and so (we are) definitely doing well."

The May 2013 revenue report shows personal income tax collections rose by 9.3 percent for the year and corporate income tax collections rose by 3.1 percent.

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Marshall Griffin

Missouri Public Radio State House Reporter Marshall Griffin is a proud alumnus of the University of Mississippi (a.k.a., Ole Miss), and has been in radio for over 20 years, starting out as a deejay. His big break in news came when the first President Bush ordered the invasion of Panama in 1989. Marshall was working the graveyard shift at a rock station, and began ripping news bulletins off the old AP teletype and reading updates between songs. From there on, his radio career turned toward news reporting and anchoring. In 1999, he became the capital bureau chief for Florida's Radio Networks, and in 2003 he became News Director at WFSU-FM/Florida Public Radio. During his time in Tallahassee he covered seven legislative sessions, Governor Jeb Bush's administration, four hurricanes, the Terri Schiavo saga, and the 2000 presidential recount. Before coming to Missouri, he enjoyed a brief stint in the Blue Ridge Mountains, reporting and anchoring for WWNC-AM in Asheville, North Carolina. Marshall lives in Jefferson City with his wife, Julie, their dogs, Max and Mason, and their cat, Honey.

See stories by Marshall Griffin

Marshall Griffin

St. Louis Public Radio State House Reporter Marshall Griffin is a native of Mississippi and proud alumnus of Ole Miss (welcome to the SEC, Mizzou!). He has been in radio for over 20 years, starting out as a deejay. His big break in news came when the first President Bush ordered the invasion of Panama in 1989. Marshall was working the graveyard shift at a rock station, and began ripping news bulletins off an old AP teletype and reading updates between songs. From there on, his radio career turned toward news reporting and anchoring. In 1999, he became the capital bureau chief for Florida's Radio Networks, and in 2003 he became News Director at WFSU-FM/Florida Public Radio. During his time in Tallahassee he covered seven legislative sessions, Governor Jeb Bush's administration, four hurricanes, the Terri Schiavo saga, and the 2000 presidential recount. Before coming to Missouri, he enjoyed a brief stint in the Blue Ridge Mountains, reporting and anchoring for WWNC-AM in Asheville, North Carolina. Marshall lives in Jefferson City with his wife, Julie, their dogs, Max and Liberty Belle, and their cat, Honey.