Chamber “Bucks” the trend
December 27, 2012, The Herald, Chamber Bucks were a big Holiday gift this year. In just December alone, the chamber sold $15,925 bucks for holiday gifts. This amount is $1,385 more than in 2011. The chamber was open on Christmas Eve for last minute holiday shoppers and they saw steady business all day with chamber buck orders.
Overall for the year of 2012 the Chamber sold $49,345 which is over $7,000 more than 2011. Andi Hake, Executive Director of the Chamber said, “We see more individuals buying chamber bucks as gifts than businesses now. I believe this is attributed to the enforcing of the “gift tax”. If employers give cash or gift cards they are required to show that gift on the employees W2s to claim that as income. Employers do not wish to have their employees taxed further so they are looking at other gift options. Fortunately, individuals purchasing chamber bucks has increased greatly over the last few years to help offset the decrease in employer purchases. “
Hake said they are very proud of their chamber buck program. All of the $49,345 is put back into the Logan County economy and the chamber does not make any money off of this service they provide to our community. However, if businesses want to be able to redeem chamber bucks they must be chamber members in good standing.
This service cost the chamber approximately $3,000 annually, and Hake said the Chamber will be trying to look for a sponsor or multiple sponsors to help us offset this cost in 2013.