Oxford's hotel tax surpasses expectations, allows for new investments
Officials discuss public safety upgrades and the state’s THC ban during Oct. 10 Community Improvement Corporation meeting.
Oxford’s hotel tax has exceeded projections, giving the city’s Economic Development Fund an unexpected boost heading into next year, officials said Oct. 10.
Oxford’s Economic Development Specialist, Seth Cropenbaker, shared the update during the city’s Community Improvement Corporation meeting, where he also discussed the state’s recent THC ban and future population trends in Ohio.
Economic Development Fund
Cropenbaker shared that the hotel tax, as part of the Economic Development Fund, has overperformed projections.
The hotel tax is made up of revenue from hotel stays that fund Enjoy Oxford, the city’s visitors bureau. The 6% hotel tax is made up of a 3% hotel tax and a 3% convention tax.
Cropenbaker estimated the hotel tax brought in around $40,000 to $45,000 – “a fairly pleasant surprise in funds that we’re looking to deposit into the ED (Economic Development) fund,” he said.
Cropenbaker stated the city aims to use some of these funds “right out of the gate” to help the Oxford Police Department (OPD) block off streets during public events.
Cropenbaker said he believes Oxford’s large and diverse lineup of events each year would benefit from increased safety “supplies and materials,” which the city currently doesn’t have.
“One of the things that we are looking at (are) traffic barriers,” Cropenbaker said. “There’s been a number of incidents across the country (and) around the world where events get targeted.”
Additionally, he said the city is expected to pay around half, or $100,000, for these traffic barriers. According to him, the barriers are lightweight, easy to deploy and would cost a significantly less investment in staff.
Cropenbaker said built-in sidewalk barriers were considered, but they were out of the city’s budget.
THC ban
Cropenbaker also discussed a 90-day ban on low-level THC products that took effect Oct. 14 across Ohio.
“Anything above .3% THC is a controlled substance and you have to (purchase) it through a licensed dispensary,” he said.
Anything below .3%, like Delta 8 products, can still be purchased in smoke and vape stores.
According to Cropenbaker, the 90-day ban has been put in place so the state Legislature can determine how it will approach THC products in the future.
Potential population changes
Cropenbaker shared with meeting attendees that the state’s total population is shrinking, based on the findings by the Ohio Department of Development.
“By 2050, expect a 5 to 7% decrease in the total Ohio population,” he said. “(This) is a loss of almost 700,000 residents.”
Included in these statistics was an expected 1.4% decrease in the Butler County population.
Cropenbaker added that the anticipated growth would be limited to the age group of those 75 years and older across the state, but he believes that Oxford has an opportunity to position itself with the “things that folks are looking for.”
“An advantage we have is we are kind of in this belt of folks that are either preserving their population or actually increasing it,” Cropenbaker said.
Cropenbaker said, to counter the decline, Oxford should be generating more jobs and building more homes.
“It’s really kind of pushing our partners at the university to help with development on the job front and then utilizing (and) leveraging resources … to promote residential development,” he said.
