The North Myrtle Beach Chamber of Commerce Thursday, released the results of a sales tax increase study.
The Coastal Carolina University study shows a 1% sales tax would generate $4.5 million in the first year. It says visitor spending would generate 80% of that.
Most of the money would go into advertising for tourism, which the chamber hopes brings in more visitors... in turn, generating jobs. "If you were told for $57 a year you could get a new business in here that would generate 3,000 jobs and it would be here forever and ever and those numbers would grow each year, imagine what it does for your property values, for your taxes and that sort of thing. It's kind of hard to say no to that," said chamber president Marc Jordan.
In 2009, the general assembly enacted legislation that lets municipalities in Horry County enact a 1% sales tax, with most of the revenue going to destination marketing.
Myrtle Beach started collecting a one cent tax for tourism in August.
To read the CCU study, click here.
