Downtown Revitalization in Small Town America is Important

Repost From May

Enjoy, Jeremy Shaffer

 

Friday, May 31, 2013

Downtown Revitalization in Small Town America is Important

A Beginners Look at Economic Development  

Downtown Revitalization is important, however small communities are at a disadvantage. Small towns and small cities would love to have multiple employers, and thriving retail areas on Main Street. Though often times it is hard to find the proper tools, and know how to put together a successful approach. Building the foundation for small town success is hard and complicated and takes multi faceted planning. This includes a broad Master Comprehensive planning, Financial Planning/Stability, and Service Delivery Need/Analysis for starters.Then Marketing, Public Relations, Economic Development, Community Development and a myriad of other more community specific studies need to be addressed and action plans initiated.

The information over a vast number of professions and skill sets must be put together into one dynamic force and must be implemented over time.

Recently, I was explaining a DART ( Downtown Assessment Resource Team) visit and discussing my experience looking into becoming a Main Street Community. After that discussion I went in search, as many times before, to find a small toolbox filled with the information that may help, without expending the Capital and resources on a DART visit to better understand the Downtown Revitalization approach. Much of what I have experienced has been intriguing when it comes to Economic Development, however I have learned much of the information is over rated and over sold. The Main Street Program is a great endeavor and ultimate goal, though there is a foundation that must be put in place in order to achieve such success and be recognized. I believe that with the right amount of planning and action a small community can become vibrant and successful. The identification and award for the achievement through recognition will take back seat when done properly, because the success will be a happy stable community.

Now for the Holy Grail of information. I have searched and been part of many discussion regarding understanding the needs of the community and businesses. Much was underlined by preconceived notions, outdated information, and special interest groups. None of this being bad, just not what needed to be developed in order to receive quality information that would assist in putting together a measurable action plan. Recently I stumbled across a Tool Box to assist in doing what many had been talking about. I was so excited I copied the introduction and linked the information to share with my locals. It was put together in 2010 by a collaboration of University Extension Agencies - MN, OH, and WI. This will help get your planning and information gathering underway. Next stop will be funding, however that is a topic in itself.

I hope this helps. HERE IS YOUR TOOL BOX

Jeremy Shaffer, Highland County Commissioner

Introduction - Downtown & Business District Market Analysis

For the last four decades, small cities (population of less than 100,000) all across our country have seen continued economic leakage from downtown to outlying edge locations. Once the center for community and economic activity, downtowns have suffered the loss of retail and other businesses to sites in shopping centers and commercial strips. Downtowns continue to suffer economic hardship brought on by fierce retail competition from category killers, large discount stores, and regional shopping centers. Many small city downtowns face high vacancy rates and a poor mix of retail tenants. They typically lack the market research support available to the big retailers and shopping center developers.

Market studies are typically conducted in downtown districts for a number of reasons. Examples include:

• To help businesses understand their trade area to improve sales;
• To explore business development opportunities; and
• To demonstrate the economic importance of downtown.

This market analysis toolbox is designed to help local business leaders, entrepreneurs, developers, and economic development professionals across the country understand the changing marketplace and identify business and real estate development opportunities that are realistic and make sense for their communities. It will introduce and guide the user through many of the techniques used in analyzing specific development opportunities for a downtown area. The toolbox is intended to be a self-help resource that can be used in a locally-initiated market analysis.
However, downtown market analysis today should differ from retail and shopping center market analysis. Instead of focusing strictly on retail, new emphasis is placed on the particular strength of downtown, its assets, history and quirkiness. Traditional retail is part of the equation, but only part of it. Some of the new additions to this toolbox build on factors that are unique to downtown – things that tell a compelling story about the advantages of doing business downtown.
The 2011 update of the Downtown and Business District Market Analysis toolbox is a result of a collaborative effort involving University of Minnesota Extension, Ohio State University Extension, and University of Wisconsin-Extension. The revised toolbox (building from the original University of Wisconsin-Extension toolbox) incorporates new tools developed in the partnering states. The update was supported with funding from the North Central Regional Center for Rural Development. The toolbox is based on and supportive of the economic restructuring principles of the National Trust Main Street Center. The Wisconsin Main Street Program (Wisconsin Department of Commerce) has been an instrumental partner in the development of this toolbox.

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