Contact Information:
Percy Ashcraft, County Administrator                pashcraft@co.caroline.va.us                    (804) 633-3499

County staff and the Commissioner of Revenues office have released new research data detailing revenue generation as a result of utility investments within the Carmel Church and Ladysmith areas. The two study areas have received investment in water and sewer extensions and capacity expansions.

The data reflects strong growth within Carmel Church and Ladysmith in business real estate revenues collected, assessed values of real estate, and in other General Fund revenue categories collected.

With the starting point of 1990 when most new infrastructure construction commenced, to 2010, business real estate tax revenues that fund schools, fire and rescue, and other vital services totaled $9,048,962. In Carmel Church alone, as a site of early business investment in Caroline, $6.7 Million was collected.

In 2010 Carmel Church business real estate tax revenues were just under a million dollars; in comparison the collections of the same tax in the same location in 1990 was barely over $90,000: a 992% increase.

Business followed the utility expansions in Carmel Church with the Russell Stover 70,000 sq. ft. distribution facility, Value City 340,000 sq. ft. facility, FSI manufacturing, and extensive commercial and hotel investment including the new Arbys restaurant near the County Visitor Center.

Ladysmith also has produced rapid growth in business real estate revenue, growing from 1990 to 2010 by 3,895%. The largest expansion of revenue occurred with the investments of Ladysmith Village, The Food Lion shopping center, Ladysmith Business Park, industrial manufacturer ASI, and two expansions of defense contractor, VSE, Inc.

Growth in real estate revenues went from $107,000 in 1990 to $1,670,000 in 2010, a 1,450% increase. Real estate assessed values clearly indicates the growth in the utility areas. Carmel Church real property grew in value from a mere $14 Million to $187 Million, a 1,177% increase.

Ladysmith also expanded rapidly in business real property values by over 4500%, or $128 Million in 2010. Together the two communities have real property valued at nearly a third of a billion dollars.

Percentages of growth in other areas that supply the General Fund with revenue for vital services also grew at a rapid pace.

Business personal property that includes business property in the utilities investment areas soared by over 5000% in the study period. In 1990 both communities had only $143,000 in assessed business personal property while in 2010 the assessed personal property exceeds $7.3 Million.

Business Professional Occupational License taxes reflect the actual growth of business activity, and that category grew rapidly in the areas serves by utilities. BPOL grew from $90,000 in Ladysmith in 1990 to $805,000 in 2010; Carmel Church expanded revenues in the same period from $527,000 to $3,900,000.

A last indicator studied was the meals taxes in both utilities areas. These are of special interest as their revenue is dedicated to debt reduction. Again, from 1990 to 2010 Carmel Church grew in revenues by over 1200% and 2010 collected $600,000 in meals taxes. Likewise Ladysmith expanded collections by 2744% in the same period and in 2010 collected $131,790.

Employment in the 1990 to 2010 period also grew, and especially rapidly in the last ten years studied. The lowest number of jobs in Caroline in the study period occurred in the early 1990s when only 8,749 jobs were available in the County and unemployment was over 14%. Until the recent world recession, Caroline expanded employment rapidly until there were 13,510 jobs. Employment grew by over 4,760 jobs in that period, approximately 3,700 of those jobs after 1999. Though employment figures are drawn from the entire County, most major employers in Caroline are found in Carmel Church or Ladysmith - the utility investment areas.

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