Economic Restructuring Main Street Volunteer Training
The Bureau of Downtown Development administers an economic development program targeting Wisconsin’s historic commercial districts. Bureau staff provides technical support and training to Wisconsin communities that have expressed a grass roots commitment to revitalizing their traditional business districts using a comprehensive strategy based on historic preservation. Rationale.
The majority of a community's job growth or loss stems from the success or failure of its existing businesses. It is more efficient to retain than to recruit. Because of this, it is important for a community to "keep a finger on the pulse" of its existing business base.
Weigh supply against demand Retail Supply (Square Feet) Retail Demand (Square Feet) Retail Mix Analysis Survey and Focus Group Research Trade Area Demographic and Lifestyle Analysis Competitiveness of Existing Trade Area Stores Assessment of Retail Opportunities Analysis of Non-Local Market Segments (Tourists, Workers) Consumer Behavior in Store Category Competitiveness of Existing Regional Stores
Learning about the district’s current economic condition + identifying opportunities for market growth = Market Analysis
Retail Market Analysis is a systematic evaluation of past trends, current conditions and future expectations about particular types of business and/or real estate activity at particular location(s) within a defined trade area.
ER deals with independent business and building owners which can be a challenge. Therefore, local stakeholders must advocate it’s ER position. This will allow the district to better control, understand, and gain from it’s Market Driven Destiny
Small Business Specialist Wisconsin Main Street Bureau of Downtown Development Wisconsin Department of Commerce 201 W. Washington Ave. P.O. Box 7970 Madison, WI 53707-7970 (608)-267-2252 (608)-264-7834(Fax) [email_address]
Wisconsin Department of Commerce
Wisconsin Main Street Program
UWEX Center for Community Economic Development Downtown & Business District Market Analysis web site