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County Comptroller: Economy Is Looking Up In Nassau County

Nassau County Comptroller George Maragos (file / credit: Nassau County Comptroller)

Nassau County Comptroller George Maragos (file / credit: Nassau County Comptroller)

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MINEOLA, N.Y. (CBSNewYork) - There’s some good economic news for residents and business owners in Nassau County.

Sales tax revenues have jumped in Nassau County, and county comptroller George Maragos said they are up 5.2 percent compared to this time last year.

“It’s a clear sign that our economy is recovering,” Maragos told WCBS 880′s Sophia Hall. “People feel more comfortable spending money.”

WCBS 880′s Sophia Hall reported

And there is more good economic news, as Madonna is set to rent out the Nassau Coliseum to practice for her upcoming tour. Although the rent money goes to the management company, fans and her entourage will likely be taking out their wallets, spending money in restaurants and shops.

“To have a celebrity such as Madonna choose Nassau County, I think it’s great news,” Maragos said. “It’s bringing us great publicity. And the people she will be bringing with her, I’m sure, will be spending a lot of money in our local economy.”

Maragos added that if the trend of sales tax revenues increasing continues, the county will receive an additional $25 million above what it budgeted.

Do you feel more comfortable spending money this year than you have over the past two or three years? Sound off with your comments below…