State and Local Tax Revenue

CORONAVIRUSTRAVELRECOVERYOPTIONS STATE&LOCALTAXREVENUE 2019Performancevs.2023ProjectionsbyState OxfordEconomicsAnalysis–February2023 Hotelsareintegralcontributorstocommunitiesacrossthecountry,generatingtensofbillionsofdollarsinstateandlocaltaxrevenue.Thedramaticdeclineintraveldemandin2020hadachillingeffectonthehotelindustry,leadingtoalossof$13.2billioninannualstateandlocaltaxrevenue.Butashotelsprogresstowardrecovery,thecommunitieswheretheyoperatearebeingliftedaswell.In2023,U.S.hotelsareexpectedtogenerate$46.7billioninstateandlocaltaxes.Andprojectedstateandlocaltaxrevenuefor2023willsurpasspre-pandemiclevelsinallU.S.states,whilelocaltaxrevenuesfortheDistrictofColumbiaareprojectedtobedownjust1.1%. HOTEL-GENERATEDSTATE&LOCALTAXREVENUE STATE 2019 PROJECTED2023 %DIFFERENCE $DIFFERENCE NATIONWIDE $41,117,537,798 $46,715,002,197 13.6% $5,597,464,399 ALABAMA $266,558,026 $311,406,744 16.8% $44,848,718 ALASKA $130,094,515 $157,218,016 20.8% $27,123,501 ARIZONA $758,084,674 $875,332,588 15.5% $117,247,914 ARKANSAS $143,102,970 $174,657,543 22.1% $31,554,573 CALIFORNIA $4,929,904,924 $5,530,396,328 12.2% $600,491,404 COLORADO $698,284,049 $815,228,831 16.7% $116,944,782 CONNECTICUT $583,882,739 $616,372,764 5.6% $32,490,025 DELAWARE $110,777,752 $125,035,356 12.9% $14,257,604 DISTRICTOFCOLUMBIA $428,286,239 $423,382,890 -1.1% -$4,903,349 FLORIDA $3,255,107,570 $4,020,901,309 23.5% $765,793,739 GEORGIA $781,879,930 $898,480,138 14.9% $116,600,208 HAWAII $900,036,313 $1,049,226,823 16.6% $149,190,510 IDAHO $160,770,433 $197,869,100 23.1% $37,098,667 ILLINOIS $1,717,459,069 $1,871,729,337 9.0% $154,270,268 INDIANA $705,241,559 $820,088,865 16.3% $114,847,306 IOWA $503,531,345 $622,826,953 23.7% $119,295,608 KANSAS $206,879,588 $238,163,905 15.1% $31,284,317 KENTUCKY $324,178,958 $369,776,285 14.1% $45,597,327 LOUISIANA $951,614,900 $1,000,570,982 5.1% $48,956,082 MAINE $167,766,435 $210,922,692 25.7% $43,156,257 MARYLAND $997,445,582 $1,149,089,334 15.2% $151,643,752 MASSACHUSETTS $947,540,706 $1,117,219,666 17.9% $169,678,960 MICHIGAN $1,076,746,954 $1,286,462,115 19.5% $209,715,161 MINNESOTA $546,498,442 $559,217,217 2.3% $12,718,775 MISSISSIPPI $509,999,895 $615,439,464 20.7% $105,439,569 MISSOURI $765,287,485 $875,426,794 14.4% $110,139,309 MONTANA $108,741,789 $145,367,162 33.7% $36,625,373 NEBRASKA $151,352,219 $176,007,391 16.3% $24,655,172 NEVADA $2,684,885,908 $3,015,523,599 12.3% $330,637,691 NEWHAMPSHIRE $128,169,021 $145,911,378 13.8% $17,742,357 NEWJERSEY $1,055,588,877 $1,213,565,116 15.0% $157,976,239 NEWMEXICO $253,065,637 $274,294,687 8.4% $21,229,050 NEWYORK $3,790,399,745 $4,078,295,845 7.6% $287,896,100 NORTHCAROLINA $689,728,322 $773,827,921 12.2% $84,099,599 NORTHDAKOTA $63,613,358 $69,635,667 9.5% $6,022,309 OHIO $655,035,067 $725,818,915 10.8% $70,783,848 OKLAHOMA $348,520,561 $398,002,249 14.2% $49,481,688 OREGON $418,924,300 $450,811,615 7.6% $31,887,315 PENNSYLVANIA $1,136,222,489 $1,286,513,370 13.2% $150,290,881 RHODEISLAND $100,818,769 $126,157,779 25.1% $25,339,010 SOUTHCAROLINA $651,633,917 $767,461,560 17.8% $115,827,643 SOUTHDAKOTA $112,995,704 $128,943,607 14.1% $15,947,903 TENNESSEE $762,007,241 $880,096,592 15.5% $118,089,351 TEXAS $2,387,684,311 $2,749,565,618 15.2% $361,881,307 UTAH $283,486,664 $338,729,728 19.5% $55,243,064 VERMONT $156,270,219 $188,738,993 20.8% $32,468,774 VIRGINIA $788,064,411 $846,976,846 7.5% $58,912,435 WASHINGTON $842,575,649 $894,292,702 6.1% $51,717,053 WESTVIRGINIA $391,178,553 $428,599,301 9.6% $37,420,748 WISCONSIN $470,498,255 $532,523,587 13.2% $62,025,332 WYOMING $119,115,735 $146,898,906 23.3% $27,783,171 Source:OxfordEconomics