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Chester Charette
Chester Charette
Chester Charette
Chester Charette
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Chester Charette

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  • 50% - Chester zip
    10% - Mad Heights - Good share of market
    5% - Lynchburg
    Forest doing as well as Lovingston
  • 50% - Chester Zip Code = 24251
    LOOKS LIKE IN/OUT SPLIT, but not
    63% - Chester County (not including zips into adjacent counties)
    10% - Nelson County (not including zips into adjacent counties)
    89% - Chester, Nelson, Lynchburg, zips Adjacent to Chester County (Buena Vista, Appomattox)
    = About 11% “visitors”
  • Not All Businesses Performed the Same
    Average = 32.5% Town of Chester
    Low – 14.3% Town of Chester
    High – 67% Town of Chester
  • Not All Businesses Performed the Same
    Average = 71.7% Town of Chester
    Low - 20% Chester zip
    High – 88.2% Chester zip
  • Not All Businesses Performed the Same
    Average = 71.7% Town of Chester
    Low - 20% Chester zip
    High – 88.2% Chester zip
  • Not all zips equal
    Vary area + population
    Example
    71 - Lynchburg
    57 - Roseland
    Penetration deeper into Lynchburg? NO
    PTA/STA - Definition
    Local Trade Areas = Base units for us to pull detailed market data
  • PTA = 67% visits
    24521 - Chester24553 - Gladstone
    22964 - Piney River 22967 - Roseland
    22922 - Arrington
    STA = 13%
    24483 - Vesuvius22971 - Shipman
    22976 - Tyro 24572 - Madison Heights
    PTA, STA, TERT = 84%
  • Chester + Nelson Counties
    Strong Line at Lynchburg
    Relatively large trade area = center of very rural area
  • Combined Leakage = $169 million each year
    PTA leakage of 141 is a great deal, likely to competitive markets of Lynchburg/Mad Heights/Charlottesville
    $23 million in STA is actually small compared to typical
    Madison Heights is in STA
    General merchandising (Wal-mart)
    Home Centers (Lowes)
    Lawn/Garden
    Gas
    Fast Food
    #’s suggest demand for expanded retail
  • Detail - Individual Retail Categories
    PTA Gain - ONLY IN TWO CATEGORIES
    Outdoor Power equipment - OUTBACK Motor Sports
    Gas & Convenience
    Normally see more gain - Suggest strong retail pull from Madison Heights & Lynchburg
  • Detail - BOTH STA & PTA
    Leakage - ALL CATEGORIES, BIGGEST BELOW
    Bldg Materials - Home Centers & Commercial Building Supply (Lowes - Madison Heights)
    GROCERY LEAKING - $21 million/year - Also in STA
    Apparel = $7 million/year
    Specialty - (Jewelry, Sporting Goods, Hobby, Sewing/Needlework, Books, Gifts)
    Home Furnishings
    Restaurants - $17 million/year! Both Full & Limited Services (Most Potential Full Service)
    Opportunities for Retail Growth!
  • Same Study for STA
    Outside of basic categories, still shows leakage.
    Basic categories PTA leak to STA likely
    Potential Clusters arising - Primary Trade area sales representing large SHARE of larger region
    Antiques for example looks like
    More detail to come…
  • Chester has a broad market base - reaching out into much larger rural area than typical
    HUGE opportunity to establish market share (STA Leakage, Adjacency to Urban Area)
  • Transcript

    • 1. Where are they from?
    • 2. Where are they from? - Take Two
    • 3. Percent City of Chester by Business 32.5% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00%
    • 4. Percent Chester Zip (29706) by Business 71.7% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% 90.00%
    • 5. Percent “Tourist” by Business 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00%
    • 6. The Trade Area Defined Zip Area Population Visits Visits/1000 Pop 29706 Out Chester 14,127 665 47.07 29729 Richburg 2,277 82 36.01 29706 IN Chester 5,865 499 35.32 29014 Blackstock 1,687 54 32.01 20931 Carlisle 1,288 28 21.74 29726 McConnells 1,782 23 12.91 29712 Edgemoor 2,323 20 8.61 29055 Great Falls 4,577 23 5.03 29714 Fort Lawn 2,919 15 5.14 29015 Blair 1,658 5 3.02 29180 Winnsboro 14,991 13 0.87 29720 Lancaster 44,338 8 0.18 29730 Rock Hill 54,588 20 0.37 29732 Rock Hill 49,485 27 0.55 29745 York 25,225 8 0.32 28216 Charlotte 106,401 3 0.03 29706 Chester 19,992 1,164 58.22
    • 7. Chester Local Trade Areas
    • 8. Chester Local Trade Areas
    • 9. Retail Leakage Study A study to establish the retail dollars leaving or entering a community from its primary and secondary trade areas.
    • 10. A Glance at the Trade Areas • PTA stores sold $186 million • PTA Consumers spent $335 million • Chester Primary Trade Area is LEAKING $148 million annually overall each year. • STA Store Sales $15 Million • STA Consumers spend $85 million • Secondary Trade Area is LEAKING sales in the amount of $70 million each year.
    • 11. Chester Retail Leakage 1 of 3 Opportunity Gap - Retail Stores (Consumer Expenditures) (Retail Sales) Leakage (Inflow) (Consumer Expenditures) (Retail Sales) Leakage (Inflow) Total Retail Sales Incl Eating andDrinking Places 335,582,988 186,844,015 148,738,973 85,119,522 15,020,002 70,099,520 Motor Vehicle andParts Dealers-441 74,357,285 36,139,448 38,217,837 19,268,638 470,555 18,798,083 Automotive Dealers-4411 63,825,564 30,028,886 33,796,678 16,553,715 384,539 16,169,176 Other Motor Vehicle Dealers-4412 4,679,240 3,644 4,675,596 1,209,926 1,209,926 Automotive Parts/Accsrs, Tire Stores-4413 5,852,481 6,106,918 (254,437) 1,504,997 86,016 1,418,981 Furniture andHome Furnishings Stores-442 7,786,374 2,054,861 5,731,513 2,072,111 2,072,111 Furniture Stores-4421 4,197,775 1,610,996 2,586,779 1,099,781 1,099,781 Home Furnishing Stores-4422 3,588,599 443,865 3,144,734 972,330 972,330 Electronics andAppliance Stores-443 6,981,284 3,733,489 3,247,795 1,811,244 74,945 1,736,299 Appliances, TVs, Electronics Stores-44311 5,371,795 2,779,002 2,592,793 1,384,688 38,483 1,346,205 Household Appliances Stores-443111 1,360,317 288,001 1,072,316 346,961 346,961 Radio, Television, Electronics Stores-443112 4,011,478 2,491,001 1,520,477 1,037,727 38,483 999,244 Computer and Software Stores-44312 1,346,267 294,234 1,052,033 356,151 356,151 Camera and Photographic Equipment Stores-44313 263,222 660,253 (397,031) 70,405 36,462 33,943 Building Material, Garden EquipStores -444 37,761,053 3,658,823 34,102,230 9,897,821 601,361 9,296,460 Building Material and Supply Dealers-4441 34,493,854 3,374,233 31,119,621 9,037,771 18,565 9,019,206 Home Centers-44411 13,216,670 3,000,000 10,216,670 3,479,600 3,479,600 Paint and Wallpaper Stores-44412 844,567 14,998 829,569 219,892 219,892 Hardware Stores-44413 2,516,528 155,004 2,361,524 658,241 658,241 Other Building Materials Dealers-44419 17,916,089 204,231 17,711,858 4,680,038 18,565 4,661,473 Building Materials, Lumberyards-444191 5,932,851 69,639 5,863,212 1,574,181 6,328 1,567,853 Lawn, Garden Equipment, Supplies Stores-4442 3,267,199 284,590 2,982,609 860,050 582,796 277,254 Outdoor Power Equipment Stores-44421 536,532 147,876 388,656 140,607 17,827 122,780 Nursery and Garden Centers-44422 2,730,667 136,714 2,593,953 719,443 564,969 154,474 FoodandBeverage Stores-445 41,243,312 28,340,397 12,902,915 9,820,172 2,277,758 7,542,414 Grocery Stores-4451 37,533,734 26,924,447 10,609,287 8,923,092 1,943,443 6,979,649 Supermarkets, Grocery (ExConv) Stores-44511 35,676,349 23,587,139 12,089,210 8,476,223 185,278 8,290,945 Convenience Stores-44512 1,857,385 3,337,308 (1,479,923) 446,869 1,758,165 (1,311,296) Specialty Food Stores-4452 1,263,647 225,405 1,038,242 298,803 56,755 242,048 Beer, Wine and Liquor Stores-4453 2,445,931 1,190,545 1,255,386 598,277 277,560 320,717 PTA STA
    • 12. Chester Retail Leakage2 of 3 Opportunity Gap - Retail Stores (Consumer Expenditures) (Retail Sales) Leakage (Inflow) (Consumer Expenditures) (Retail Sales) Leakage (Inflow) Health andPersonal Care Stores-446 18,502,826 10,953,543 7,549,283 4,273,844 1,394,851 2,878,993 Pharmancies and Drug Stores-44611 16,084,724 10,562,542 5,522,182 3,707,616 1,366,370 2,341,246 Cosmetics, Beauty Supplies, Perfume Stores 684,920 391,001 293,919 156,306 156,306 Optical Goods Stores-44613 509,030 509,030 131,052 131,052 Other Health and Personal Care Stores-44619 1,224,152 1,224,152 278,870 28,481 250,389 Gasoline Stations-447 37,647,814 55,942,825 (18,295,011) 9,616,490 4,882,683 4,733,807 Gasoline Stations With Conv Stores-44711 28,208,047 38,531,800 (10,323,753) 7,170,596 4,882,683 2,287,913 Other Gasoline Stations-44719 9,439,767 17,411,025 (7,971,258) 2,445,894 2,445,894 Clothing andClothing Accessories Stores-448 13,539,836 3,475,231 10,064,605 3,571,580 2,534,800 1,036,780 Clothing Stores-4481 9,952,163 2,272,482 7,679,681 2,608,203 2,534,800 73,403 Men's Clothing Stores-44811 642,120 34,175 607,945 168,965 18,816 150,149 Women's Clothing Stores-44812 2,424,016 1,048,999 1,375,017 654,893 654,893 Childrens, Infants Clothing Stores-44813 677,285 677,285 154,705 154,705 Family Clothing Stores-44814 5,349,286 5,349,286 1,398,359 2,507,000 (1,108,641) Clothing Accessories Stores-44815 207,974 126,311 81,663 57,543 8,984 48,559 Other Clothing Stores-44819 651,482 1,062,997 (411,515) 173,738 173,738 Shoe Stores-4482 1,993,274 632,001 1,361,273 503,441 503,441 Jewelry, Luggage, Leather Goods Stores-4483 1,594,399 570,748 1,023,651 459,936 459,936 Jewelry Stores-44831 1,459,486 570,748 888,738 422,343 422,343 Luggage and Leather Goods Stores-44832 134,913 134,913 37,593 37,593 Sporting Goods, Hobby, Book, Music Stores-451 5,085,196 535,556 4,549,640 1,331,962 88,325 1,243,637 Sportng Goods, Hobby, Musical Inst Stores-4511 3,819,748 476,502 3,343,246 995,954 34,926 961,028 Sporting Goods Stores-45111 1,935,177 244,502 1,690,675 508,003 34,926 473,077 Hobby, Toys and Games Stores-45112 1,261,339 66,000 1,195,339 323,503 323,503 Sew/Needlework/Piece Goods Stores-45113 289,969 166,000 123,969 76,051 76,051 Musical Instrument and Supplies Stores-45114 333,263 333,263 88,397 88,397 Book, Periodical and Music Stores-4512 1,265,448 59,054 1,206,394 336,008 53,399 282,609 Book Stores and News Dealers-45121 801,078 3,555 797,523 213,591 1,414 212,177 Book Stores-451211 741,736 3,361 738,375 199,068 199,068 News Dealers and Newsstands-451212 59,342 194 59,148 14,523 1,414 13,109 PTA STA
    • 13. Chester Retail Leakage3 of 3 Opportunity Gap - Retail Stores (Consumer Expenditures) (Retail Sales) Leakage (Inflow) (Consumer Expenditures) (Retail Sales) Leakage (Inflow) General Merchandise Stores-452 39,632,824 14,749,700 24,883,124 9,900,489 779,336 9,121,153 Department Stores Excl Leased Depts-4521 18,040,817 1,838,354 16,202,463 4,581,017 4,581,017 Other General Merchandise Stores-4529 21,592,007 12,911,346 8,680,661 5,319,472 779,336 4,540,136 Warehouse Clubs and Super Stores-45291 18,721,923 10,702,351 8,019,572 4,586,470 779,336 3,807,134 All Other General Merchandise Stores-45299 2,870,084 2,208,995 661,089 733,002 733,002 Miscellaneous Store Retailers-453 8,014,975 3,135,938 4,879,037 2,101,453 104,368 1,997,085 Florists-4531 602,284 1,125,014 (522,730) 157,127 104,368 52,759 Office Supplies, Stationery, Gift Stores-4532 2,956,294 432,996 2,523,298 783,283 783,283 Office Supplies and Stationery Stores-45321 1,681,718 1,681,718 445,423 445,423 Gift, Novelty and Souvenir Stores-45322 1,274,576 432,996 841,580 337,860 337,860 Used Merchandise Stores-4533 619,447 400,726 218,721 163,522 163,522 Other Miscellaneous Store Retailers-4539 3,836,950 1,177,202 2,659,748 997,521 997,521 Non-Store Retailers-454 18,429,780 3,043,531 15,386,249 4,698,769 784,626 3,914,143 Electronic Shopping, Mail-Order Houses-4541 12,577,712 15,130 12,562,582 3,243,210 41,152 3,202,058 Vending Machine Operators-4542 855,147 191,322 663,825 205,305 369,334 (164,029) Direct Selling Establishments-4543 4,996,921 2,837,079 2,159,842 1,250,254 374,140 876,114 Foodservice andDrinking Places-722 26,600,429 21,080,673 5,519,756 6,754,949 1,026,394 5,728,555 Full-Service Restaurants-7221 11,940,723 9,520,999 2,419,724 3,037,101 3,037,101 Limited-Service Eating Places-7222 11,236,764 9,357,819 1,878,945 2,843,212 1,026,394 1,816,818 Special Foodservices-7223 2,262,922 1,749,471 513,451 572,959 572,959 Drinking Places -Alcoholic Beverages-7224 1,160,020 452,384 707,636 301,677 301,677 GAFO * 75,981,808 24,981,833 50,999,975 19,470,669 3,477,406 15,993,263 General Merchandise Stores-452 39,632,824 14,749,700 24,883,124 9,900,489 779,336 9,121,153 Clothing and Clothing Accessories Stores-448 13,539,836 3,475,231 10,064,605 3,571,580 2,534,800 1,036,780 Furniture and Home Furnishings Stores-442 7,786,374 2,054,861 5,731,513 2,072,111 2,072,111 Electronics and Appliance Stores-443 6,981,284 3,733,489 3,247,795 1,811,244 74,945 1,736,299 Sporting Goods, Hobby, Book, Music Stores-451 5,085,196 535,556 4,549,640 1,331,962 88,325 1,243,637 Office Supplies, Stationery, Gift Stores-4532 2,956,294 432,996 2,523,298 783,283 783,283 PTA STA
    • 14. Chester CaptureScenario Retail Stores Primary Secondary 20% of PTA Outflow 10% 0f STA Outflow Potential Capture Sales per Square Foot Calculated Capture Selected Retail Categories Below 22,108,211 4,261,325 26,369,536 161,523 Furniture Stores 2,586,779 1,099,781 517,356 109,978 627,334 141.84 4,423 Home Furnishing Stores 3,144,734 972,330 628,947 97,233 726,180 167.75 4,329 Household Appliances Stores 1,072,316 346,961 214,463 34,696 249,159 245.44 1,015 Radio, Television, Electronics Stores 1,520,477 999,244 304,095 99,924 404,020 207.17 1,950 Computer and Software Stores 1,052,033 356,151 210,407 35,615 246,022 207.17 1,188 Camera and Photographic Equipment Stores (397,031) 33,943 3,394 3,394 542.63 6 Building Material and Supply Dealers 31,119,621 9,019,206 6,223,924 901,921 7,125,845 142.38 50,048 Hardware Stores 2,361,524 658,241 472,305 65,824 538,129 121.08 4,444 Grocery Stores 10,609,287 6,979,649 2,121,857 697,965 2,819,822 371.79 7,584 Health and Personal Care Stores 7,549,283 2,878,993 1,509,857 287,899 1,797,756 247.29 7,270 Clothing and Clothing Accessories Stores 10,064,605 1,036,780 2,012,921 103,678 2,116,599 164.60 12,859 Women's Accessory & Specialty 1,375,017 654,893 275,003 65,489 340,493 164.60 2,069 Shoe Stores 1,361,273 503,441 272,255 50,344 322,599 158.81 2,031 Jewelry Stores 888,738 422,343 177,748 42,234 219,982 263.92 834 Luggage and Leather Goods Stores 134,913 37,593 26,983 3,759 30,742 198.82 155 Sporting Goods Stores 1,690,675 473,077 338,135 47,308 385,443 153.46 2,512 Hobby, Toys and Games Stores 1,195,339 323,503 239,068 32,350 271,418 146.28 1,855 Sew/Needlework/Piece Goods Stores 123,969 76,051 24,794 7,605 32,399 74.91 433 Book Stores 738,375 199,068 147,675 19,907 167,582 161.16 1,040 General Merchandise Stores 24,883,124 9,121,153 4,976,625 912,115 5,888,740 133.90 43,979 Florists (522,730) 52,759 5,276 5,276 149.82 35 Gift, Novelty and Souvenir Stores 841,580 337,860 168,316 33,786 202,102 168.55 1,199 Foodservice and Drinking Places 5,519,756 5,728,555 1,103,951 572,856 1,676,807 201.63 8,316 Drinking Places -Alcoholic Beverages 707,636 301,677 141,527 30,168 171,695 88.07 1,950
    • 15. Opportunities • Downtown -- – Clothing – Furniture and Home Furnishings – Dining – Health and Personal Care • Some Chester Observations -- – Underserved by grocery stores – Fast food – Building material
    • 16. Residential Strategy Business Strategy Arts Strategy Strategies for Downtown Chester Organizational Strategy
    • 17. • Chester County is proposed to have one of the largest single tract development in the history of the Carolinas. • Once completed (20 year time horizon) Montrose alone will bring $2 billion in investment and development equal to about half the size of the City of Greenville in geography and population. • Population projections show decline in Chester but consider this: Residential Strategy: The Issues
    • 18. • Leesburg/Loudoun: 42.9 miles from Washington – 1970 37,150 population – 2000 169,599 population – 2007 277.237 population • Lawrenceville/Gwinnett: 39 miles from Atlanta – 1970 72,349 population – 2000 588,448 population – 2007 870,611 population • Chester/Chester: 49 miles from Charlotte (60 miles from Columbia) – 2000 34,068 population • How will Chester position itself in this situation? In the City’s situation, it all centers on rooftops. Residential Strategy: The Issues
    • 19. Downtown Chester will capture its share of regional growth by setting the stage for investment in new housing opportunities and renovation of existing housing. Residential Strategy: The Vision
    • 20. • Develop marketing piece promoting Chester as a residential location. • Work with local businesses to furnish a “mock” model residential unit for upper floor housing. • Start a faith-based clean up program for neighborhoods in need: Christmas in July. • Pursue residential development as a component of the rebirth of the Springsteen site: The Initial Projects: 2008-2009
    • 21. • Complete environmental assessment of the Springsteen site. • Secure option to buy the site. • Secure Brownfield Voluntary Cleanup protection for the site. • Pursue agreement to market property. • Explore PARD grant for recreational component. • Put together RFP for investment profiling the mill tax credits. The Springsteen Site: First Steps
    • 22. • Pursue an upper floor and residential recruitment program with an emphasis on artists (see next strategy). • Initiate development agreement for Springsteen Site with selected developer partner(s). • Work with property owners of the Thomas & Howard Warehouse to market property for residential development adjacent to a new “Gateway Park”. Next Steps: 2009-2013
    • 23. • Complete 40 upper floor residential units downtown. • Complete 200 new residential units in close proximity to downtown. • Complete 100 residential renovations throughout the city. Completion Steps: 2014-2018
    • 24. • “The arts” is a 36.8 billion industry: the arts are real economic development. (National Governors Association) • The “Creative Economy” has become a buzzword in economic development circles particularly in communities where industrial recruitment is no longer an option. • Chester is strategically positioned between two metro areas, with a spectacular setting, and still affordable location. • Rooftops alone will not be the engine for growth, we need an authentic catalyst around which to build the economy and image. • Chester has something few communities can claim: a legacy of the arts through the Brainerd Institute. Arts Strategy: The Issues
    • 25. The Arts will become the foundation upon which the economic revitalization and community unification of Chester will build. The Arts will bring the community together, encourage investment, and foster a unique and authentic identity for Chester. Arts Strategy: The vision
    • 26. • Hold a community “summit for the arts” to gather together artists, patrons, and other partners to discuss the future. • Meet with the owners of the Brainerd Institute to determine appropriate partnership opportunities. • Pursue a marketing piece to promote all of the arts in Chester County using the Chester Brand. The Initial Projects: 2008-2009
    • 27. • Pursue an artist residential recruitment strategy modeled after Paducah, KY and/or ArtSpace developments: – 100% financing for purchase and rehabilitation of an existing structure or the building of a brand new structure. – Basic loan package is 7% - 30yr. fixed rate up 300% of appraised value. – Free lots for new construction as available. – City will pay up to $2500 for architectural services or other professional fees. – National marketing of Lowertown Arts District and Paducah. • Partner with Brainerd Institute to create an artist in residence program at the campus. • Develop Brainerd gallery/studio in downtown Chester as catalyst/incubator for artists and businesses. Next Steps: 2009-2013
    • 28. • Re-open Brainerd Institute as the Brainerd/Ayers Arts Institute. – Accredited arts college. – High school partnership program. – Artist in residence. Completion Steps: 2014-2018
    • 29. Business Strategy: The Issues • Chester is leaking sales to the tune $218 million each year. • Major categories where sales are leaking are: – Clothing – Furniture and Home Furnishings – Dining – Health and Personal Care • “Suburban” retail will enhance growth for the community overall. • It is imperative that a business base continue to grow in downtown for the sake of the tax base of the city.
    • 30. Chester Capture Scenario Retail Stores Primary Secondary 20% of PTA Outflow 10% 0f STA Outflow Potential Capture Sales per Square Foot Calculated Capture Selected Retail Categories Below 22,108,211 4,261,325 26,369,536 161,523 Furniture Stores 2,586,779 1,099,781 517,356 109,978 627,334 141.84 4,423 Home Furnishing Stores 3,144,734 972,330 628,947 97,233 726,180 167.75 4,329 Household Appliances Stores 1,072,316 346,961 214,463 34,696 249,159 245.44 1,015 Radio, Television, Electronics Stores 1,520,477 999,244 304,095 99,924 404,020 207.17 1,950 Computer and Software Stores 1,052,033 356,151 210,407 35,615 246,022 207.17 1,188 Camera and Photographic Equipment Stores (397,031) 33,943 3,394 3,394 542.63 6 Building Material and Supply Dealers 31,119,621 9,019,206 6,223,924 901,921 7,125,845 142.38 50,048 Hardware Stores 2,361,524 658,241 472,305 65,824 538,129 121.08 4,444 Grocery Stores 10,609,287 6,979,649 2,121,857 697,965 2,819,822 371.79 7,584 Health and Personal Care Stores 7,549,283 2,878,993 1,509,857 287,899 1,797,756 247.29 7,270 Clothing and Clothing Accessories Stores 10,064,605 1,036,780 2,012,921 103,678 2,116,599 164.60 12,859 Women's Accessory & Specialty 1,375,017 654,893 275,003 65,489 340,493 164.60 2,069 Shoe Stores 1,361,273 503,441 272,255 50,344 322,599 158.81 2,031 Jewelry Stores 888,738 422,343 177,748 42,234 219,982 263.92 834 Luggage and Leather Goods Stores 134,913 37,593 26,983 3,759 30,742 198.82 155 Sporting Goods Stores 1,690,675 473,077 338,135 47,308 385,443 153.46 2,512 Hobby, Toys and Games Stores 1,195,339 323,503 239,068 32,350 271,418 146.28 1,855 Sew/Needlework/Piece Goods Stores 123,969 76,051 24,794 7,605 32,399 74.91 433 Book Stores 738,375 199,068 147,675 19,907 167,582 161.16 1,040 General Merchandise Stores 24,883,124 9,121,153 4,976,625 912,115 5,888,740 133.90 43,979 Florists (522,730) 52,759 5,276 5,276 149.82 35 Gift, Novelty and Souvenir Stores 841,580 337,860 168,316 33,786 202,102 168.55 1,199 Foodservice and Drinking Places 5,519,756 5,728,555 1,103,951 572,856 1,676,807 201.63 8,316 Drinking Places -Alcoholic Beverages 707,636 301,677 141,527 30,168 171,695 88.07 1,950
    • 31. Business Strategy: The Vision Chester’s downtown will re-emerge as a specialty retail destination for the region offering a variety of shopping and dining options for residents and visitors.
    • 32. • Implement the Chester Brand to promote the image of the community. • Develop a Chester shopping and dining guide. • Develop improvements to the Lancaster Street gateway - gateway park. • Work with property owners to open storefronts for monthly “antique” “craft” “art” fair in downtown. • Launch a downtown ambassadors program to recruit retailers to Chester. The Initial Projects: 2008-2009
    • 33. • Develop gateways for Columbia Street and Saluda Street. • Develop wayfinding system for Chester. • Prepare a retail incentive program including: – Rent subsidies for targeted business types. – Low interest loans for business upfits. – Joint marketing program for businesses. • Redevelop the backlot as a retail expansion/public space. Next Steps: 2009-2013
    • 34. • Target net 25 new retail businesses in downtown. • Target a net 6 new restaurants downtown. Completion Steps: 2014-2018
    • 35. • The projects in this plan are complex and will require creative solutions involving multiple partners. • Chester must begin work on these efforts immediately and unite behind a common vision for the future… there is no time to wait. • There is no “single point of contact” for investment opportunities in Chester. • It is time for a renewed economic development partnership for the City. Organizational Strategy: The Issues
    • 36. Chester will flourish under a re- energized partnership between the City of Chester, local businesses, key community stakeholders, and citizens. Organizational Strategy: The Vision
    • 37. • Create the Chester Alliance: – A new flagship organization that will lead revitalization efforts for the City. – Reconstituted board of directors with representatives from: • Shopkeepers • Major business leaders: Banks, Property Owners, etc. • Arts Groups • Partner Groups: County ED, Chamber • City of Chester – Use this guide as a benchmark work-program for the organization. – Staff the organization: either full-time or circuit-rider. The Initial Projects: 2008-2009
    • 38. • Consider a capital campaign to fund improvements. • Explore Tax Increment Financing and New Market Tax Credits to fund improvements. • Alliance commission Strom Thurmond Institute to study service consolidation opportunities between the city and county: – Preserve existing service levels. – Hold increasing taxes at bay. – Create efficiencies for all citizens. Next Steps: 2009-2013

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