Apparel Business Service Inventory

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Apparel Business Service Inventory

  1. 1. Village of Covington <ul><li>General Demographic Overview </li></ul><ul><li>Data Related to Specific Strategies </li></ul><ul><li>A. Agricultural Business Development </li></ul><ul><li>B. Tourism </li></ul><ul><li>C. Retirement Community </li></ul><ul><li>D. Business Retention & Expansion & Attraction </li></ul>
  2. 3. Social Characteristics
  3. 4. Covington Population <ul><li>Population in Covington has grown very slightly over the past six years, gaining12 residents since the 2000 US Census, from 2559 to 2571 </li></ul><ul><li>This represents a .5% increase in population </li></ul>
  4. 6. Covington Median Age
  5. 7. Age of Population <ul><li>Covington’s 65+ pop. is 17.7%, compared to 13.3% for Ohio and 12.4% for the U.S. </li></ul><ul><li>Covington’s average age is 36.85 compared to 36.85 for Ohio and 36.22 for U.S. </li></ul><ul><li>According to 2000 U.S. Census, there were 1014 residents over 45 years </li></ul>
  6. 8. Housing <ul><li>Total # Housing Units: 1,075 </li></ul><ul><li>Density: 933 per sq. mile </li></ul><ul><li>Vehicles available </li></ul><ul><li>None: 6% One: 37% Two: 39% </li></ul><ul><li>Three or more: 18% </li></ul><ul><li>Renter Occupied Housing: </li></ul><ul><li>~239 units; 22.2% (U.S. is 30%) </li></ul><ul><li>~Average # rooms; 4.97 (U.S. is 4.04) </li></ul><ul><li>~Rent as a % of HH revenue; 21% (Ohio is 24% and U.S. is 26%) </li></ul>
  7. 9. Housing <ul><li>Owner Occupied Housing: </li></ul><ul><li>~772 Units - 71.8% of housing; (Ohio is 64.2% and U.S. is 60.2%) 65% have a mortgage </li></ul><ul><li>~Median year structure was built – 1942 (Ohio is 1962 and U.S. is 1971) </li></ul><ul><li>~New housing developments? </li></ul>
  8. 10. Housing <ul><li>Estimated median house/condo value in 2005; $113,400 </li></ul><ul><li>~in 2000 it was $93,500 </li></ul><ul><li>Home Sales; dropped to just over 5 in the 4 th qtr. Of 2007 </li></ul><ul><li>~Peak was 3 rd qtr. Of 2005 with 35 homes sold </li></ul>
  9. 11. Economic Characteristics
  10. 12. Economy <ul><li>Median HH income in 2005: </li></ul><ul><li>Covington; $42,900 </li></ul><ul><li>Ohio; $43,493 </li></ul><ul><li>For population 25 yrs. & over: </li></ul><ul><li>Unemployment rate: 3.7% </li></ul><ul><li>Mean travel time to work: 20.2 min. </li></ul><ul><li>HS or higher: 81.8% </li></ul><ul><li>BA or higher: 9.8% </li></ul><ul><li>Grad. or Prof. degree: 3.2% </li></ul>
  11. 13. Business Service Inventory <ul><li>Available in Covington List includes: </li></ul><ul><li>Antique Shops, Auto Repair/Service, Dental, Eating </li></ul><ul><li>Places/restaurants/refreshments, Electricians, Feed Store, Florist, </li></ul><ul><li>Furniture, Gas Station, General Merchandise, Greenhouse, Insurance </li></ul><ul><li>Agency, Laundromat, Legal Services, Mortician, Plumbers, </li></ul><ul><li>Tavern, Used Cars </li></ul><ul><li>Unavailable in Covington List includes: </li></ul><ul><li>Auto Import, Bakery, Bicycle Shop, Blade & Knife Sharpening, </li></ul><ul><li>Bookstore, Dry Cleaners, Freezer/Locker, Grocery, Hardware, </li></ul><ul><li>Household Appliances, Jewelry Store, Liquor Store, Motel, Pharmacy, </li></ul><ul><li>Music Store, Sewing, Shoe, Sporting Goods, Small Appliance Repair, </li></ul><ul><li>Toys & games, Wallpaper and paint, bowling alley </li></ul>
  12. 14. Business Service Inventory <ul><li>Some confusion about available in Covington: </li></ul><ul><li>Accounting 6-3 Apparel 6-3 Auto dealer 5-4 </li></ul><ul><li>Farm Implement 4-2 Floor Covering 5-2 Guns & Ammo 4-4 </li></ul><ul><li>Medical 7-2 Real Estate 5-3 Welding 2-4 </li></ul>
  13. 15. Strategy Support <ul><li>Which Businesses in Covington Support: </li></ul><ul><li>Tourism </li></ul><ul><li>Agribusiness </li></ul><ul><li>Retirement </li></ul><ul><li>BR&E </li></ul><ul><li>Which Businesses not in Covington could support: </li></ul><ul><li>Tourism </li></ul><ul><li>Agribusiness </li></ul><ul><li>Retirement </li></ul><ul><li>BR&E </li></ul>
  14. 16. Data/Information Related to Strategies
  15. 17. Retirement Strategy
  16. 18. Changing Nature of Retirement <ul><li>Number of relocating retirees will </li></ul><ul><li>increase from 10% to 20% </li></ul><ul><li>Traditional retirement destinations will </li></ul><ul><li>not be as popular </li></ul><ul><ul><li>Crowded </li></ul></ul><ul><ul><li>Expensive </li></ul></ul>
  17. 19. Changing Nature of Retirement <ul><li>Retirees Want: </li></ul><ul><li>Rural small town feel (relative) </li></ul><ul><li>Main Street organizations </li></ul><ul><li>Friendly environs (socioeconomics) </li></ul><ul><li>Amenities </li></ul><ul><li>Unique mix make community successful </li></ul><ul><li>No one place is for everyone </li></ul><ul><li>It’s about attracting zoomers in their encore years! </li></ul>
  18. 20. Retirement Community Needs Assessment <ul><li>Housing Costs & Types </li></ul><ul><li>Retail Services </li></ul><ul><li>(basic and specialty) </li></ul><ul><li>Medical Facilities, Providers and Services </li></ul><ul><li>(especially those serving older populations) </li></ul><ul><li>Ease of Getting Around </li></ul><ul><li>(public transportation, proximity of housing to shopping, walkability) </li></ul><ul><li>Recreation/Amentities </li></ul><ul><li>(recreation, entertainment, lifelong learning) </li></ul>
  19. 21. Retirement Strategy: How it Links to Tourism Strategy <ul><li>Retirees and tourists are like-minded target markets </li></ul><ul><li>Amenities are very important for both </li></ul><ul><li>Retirees and tourists bring similar benefits to community </li></ul><ul><li>Investment of outside dollars </li></ul><ul><li>Less demand for local services </li></ul><ul><li>Successful retirement strategies can be linked to tourism promotion efforts </li></ul>
  20. 22. Tourism & Retiree Relocation <ul><li>The Links </li></ul><ul><li>Retirees & tourists are like minded target audiences </li></ul><ul><li>Retirees are tourists first – then after </li></ul><ul><li>relocating become permanent tourists </li></ul><ul><li>Relocating retirees typically make 3 to </li></ul><ul><li>5 visits (lasting up to 2 weeks each) </li></ul><ul><li>Only an estimated 1 in 10 relocation </li></ul><ul><li>oriented tourists will relocate </li></ul>
  21. 23. Tourism Development Strategy
  22. 24. Visitors to Area Attractions in 2007 <ul><li>Stillwater Prairie Reserve </li></ul><ul><li>75,006 Visitors/yr. </li></ul><ul><li>Greenville Falls State Scenic River Area </li></ul><ul><li>12,000 Visitors/yr. </li></ul><ul><li>Greenville Falls has been expanded, and visitorship should increase </li></ul>
  23. 25. Types of Visitors <ul><li>Stillwater Prairie Reserve </li></ul><ul><li>~Regular visitors </li></ul><ul><li>~Primarily from “local” area </li></ul><ul><li>~Walking path is major attraction (2.2 mi. Loop) </li></ul><ul><li>Greenville Falls State Scenic River Area </li></ul><ul><li>~Day trippers; weekends </li></ul><ul><li>~Fishing and canoeing </li></ul>
  24. 26. Bike Trail <ul><li>Mainly focusing on North - South legs </li></ul><ul><li>When focus shifts to East – West legs, Covington to Fletcher will be completed first </li></ul><ul><li>Eventually this leg will go westward from Covington to Bradford </li></ul>
  25. 27. Strategies <ul><li>What kinds of businesses/events/services could be developed that would attract visitors from: </li></ul><ul><li>Stillwater? </li></ul><ul><li>Greenville? </li></ul><ul><li>Is there anyplace for Greenville Park visitors to stay overnight? (Bed & Breakfasts?) </li></ul><ul><li>When bikepath is completed, what kinds of businesses/events/services could be developed that would attract visiting bikers? </li></ul>
  26. 28. <ul><li>Business Retention & Expansion </li></ul>
  27. 29. Covington Employment 2002 <ul><li>Industry </li></ul><ul><li>Construction: 5% </li></ul><ul><li>Manufacturing: 31% </li></ul><ul><li>Retail: 13% </li></ul><ul><li>Education, Health </li></ul><ul><li>& Social Services: 16% </li></ul><ul><li>Arts, entertainment </li></ul><ul><li>Food services: 5% </li></ul><ul><li>Professional: 5% </li></ul><ul><li>--------------------------------------------------------------------------------- </li></ul><ul><li>Class of Worker </li></ul><ul><li>Private wage & salary: 85% </li></ul><ul><li>Government: 10% </li></ul><ul><li>Self-employed: 4% </li></ul><ul><li>Source: OSU Extension Data Center </li></ul>
  28. 30. Five County Region Economic Cluster 2006: Champaign, Clark, Darke, Miami, Montgomery, Shelby 22,368/104 Transportation Equipment Mfg 14,550/1,332 Energy (Fossil & Renewable) 21,213/870 Advanced Materials 22,979/564 Biomedical/Biotechnical (Life Sciences) 26,261/2,960 Business & Financial Services Cluster 33,307/582 Education & Knowledge Creation Employment/ Establishments Cluster
  29. 31. Miami County Clusters 3,641/68 Education & Knowledge Creation 1,427/39 Biomedical/Biotechnical (Life Sciences) 1,578/152 Advanced Materials 1,950/14 Transportation Equipment Manufacturing 2,019/42 Machinery Mfg Employment/ Establishments Cluster
  30. 32. Covington Industries <ul><li>Which local industries are included in each of the Miami County Clusters? </li></ul><ul><li>Education & Knowledge Creation </li></ul><ul><li>Machinery Mfg </li></ul><ul><li>Transportation Equipment Manufacturing </li></ul><ul><li>Advanced Materials </li></ul><ul><li>Biomedical/Biotechnical (Life Sciences) </li></ul>
  31. 33. <ul><li>Covington Community Capacity </li></ul>
  32. 34. <ul><li>Agriculture Development </li></ul>

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