Word: retailing
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Dates: during 1980-1989
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...fact, more than just upscale retail sales and rents are funding the nationwide preservation boom. Since 1982, the Federal Government has granted owners of certified historic buildings a 25% tax credit on renovation costs. For every $4 put into qualified rehabilitation, the developer pays $1 less to the IRS. The incentive effect has been extraordinary. In fiscal 1980, before the new tax law was passed, 614 Historic Register renovations were approved; last year the number was 3,214. St. Louis has used the tax incentives more often than any other city, and the Union Station project is the single biggest...
Calvin Coolidge notwithstanding, the business of America today is service. Since World War II, the U.S. has made the transition from smokestacks and assembly lines to copiers and computers. Today two-thirds of all people work in wholesale and retail trade, communications, government, health care and restaurants. The buzz word of the 1970s job market was high tech. In the next decade it will downshift to low tech. There will be tremendous expansion in such decidedly unglamorous occupations as cashier, registered nurse and office clerk...
...Square and its environs have seen some other major changes during the past year. The Charles Square Hotel and mall complex, which opened last March, have added an ultra-ritzy dimension to Square consumerism. But business for Laura Ashley, Crabtree and Evelyn and the other higher-priced retail establishments hasn't been as good as expected...
LaRosa added that he is particularly concerned about the encroachment of housing, industry, and retail establishments into Cambridge neighborhoods...
...sound is as pure and compelling as a siren song, and consumers seem powerless to resist. They have been snapping up compact disk players, which reproduce music with near perfection, at a rate that is overwhelming both retailers and manufacturers. Annual sales of the newest high-tech wonder, which came on the U.S. market in 1983, should reach 1 million next year. That will make the CD player the fastest-selling machine in home-electronics history. The videocassette recorder took six years (from 1975 to 1981) to reach the same milestone. "We're selling every single...