Southlake launches new cashback program aimed at supporting local businesses
The City of Southlake has launched a new incentive program aimed at supporting local businesses.
Following a spike in sales during the holidays, this is frequently the slowest time of year for retailers and restaurants.
"That's typically where we see sales tax take a dip," said Daniel Cortez, director of economic development and tourism for the City of Southlake. "The city wants to support local businesses here in town, and the truth is, there is no catch."
The city is giving five percent back to those who shop and dine in Southlake.
More than 300 stores, restaurants, and entertainment venues are participating in the program. All you have to do is download the OpenRewards app, upload your receipt, and select how you want to receive your money.
"Once you do that, you should be getting that percentage cash back within a couple of days," Cortez said.
Since launching on January 22, the city has processed about 2,300 transactions.
"A lot of people come in here and bring it up; mention it," said Robert Archer, general manager of Postino Winecafe. "We've seen a lot of good things come from it."
Archer says they're grateful for any effort to bring in more customers.
"It shows that Southlake really wants to invest in their community, the people in their community, and the people that drive in from outside as well," Archer said.
The city's hotel occupancy tax funds the cashback reward. Southlake has committed $75,000 to the program.
"We're going to continue to run the program until those funds are effectively depleted," Cortez said. "My hope is that I can go back to the city council and request additional funding, but we'll see how this trial run goes. So far, it's been a success, and if we can give back in any way to the consumer, we want to be able to do that."
Cortez believes Southlake is the only city in DFW with the five percent cashback incentive.
"There's not really a shop here in town square that isn't a part of it, so come on out and enjoy what Southlake has to offer," he said.
Neighboring Colleyville is giving $35 gift cards to its residents this month to spend at its restaurants. They are available on a first-come, first-served basis.
"We understand that the winter months can be tough on restaurants, so we initiated this program to specifically support Colleyville restaurants in February," said Colleyville Mayor Bobby Lindamood. "We've had a ton of success with our gift card programs over the years, investing around $1 million dollars annually back into our local businesses."
According to the city, this month's program will inject around $85,000 into local restaurants. All gift card programs are a part of Colleyville's economic development strategy and are funded with TIF dollars.