On Monday evening Mayor Charles Snapp announced anticipated tax revenue on the eve of the announcement of a new national chain restaurant to be located in Walnut Ridge.

Mayor Snapp stated the anticipated revenue to be generated will be an estimated $100,000 in sales tax benefiting Walnut Ridge, Lawrence County, Lawrence Memorial Hospital and the new Lawrence County Jail. Mayor Snapp went on the say the new business will also produce an additional $12,000 per year in annual property tax. Annual payroll taxes for the estimated 45 employees of the new business are estimated at $936,000 according to the mayor.

Snapp stated progress is being made because the entire county is working together, Mayor Snapp said these estimates are solely based on the new business announcement and do not include revenue from the Tractor Supply that was announced last week.

For more information on the City of Walnut Ridge visit www.cityofwalnutridge.com .

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