Yellow Springs Business Retention and Expansion Study Presentation

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Yellow Springs Business Retention and Expansion Study Presentation

  1. 1. 12/21/2009 Study Purpose Purpose of the study was to assess business’ attitudes or perceptions about the current and future business environment in the Village of Yellow Springs YELLOW SPRINGS BUSINESS RETENTION & EXPANSION SURVEY Wright State University Center for Urban & Public Affairs Survey Design Participating Businesses Funding & project team membership came from: List was developed from business listings pulled Village of Yellow Springs from subscription sources Yellow Springs Chamber of Commerce The final database resulted in 142 business entities Miami Township Community Resources CUPA attempted to contact and set up interviews Community Information Project with each of the companies on the final list. 102 companies (72%) responded to the survey Survey design and the initial distribution list of 18 companies participated in the survey in both 1998 companies to be surveyed was a collaborative effort by and 2009 CUPA and the project team 1
  2. 2. 12/21/2009 Yellow Springs Businesses by Type Establishment Type Retail Trade 30.4% Health Care and Social Assistance 11.8% Food Services 10.8% Other Services 6.9% Professional, Scientific, and Technical … 5.9% Locally Owned National Non‐Profit Organizations 5.9% & Operated, Chain, 4.0% Construction 4.9% 89.0% Manufacturing 3.9% Regional Schools‐Universities & Colleges Academic 2.9% Chain, 3.0% Health Clubs Studios & Gymnasiums 2.9% Finance and Insurance 2.9% Franchise, Accommodations 2.9% 4.0% Information 2.0% Wholesale Trade 2.0% Travel Arrangement and Reservation Service 2.0% Agriculture 2.0% 0% 5% 10% 15% 20% 25% 30% 35% Years of Operation in Yellow Springs Business Climate, 2007-2009 Increased Stayed the Same Declined 45.0% 41.0% 2009 1998 40.0% 5-9 years, 100+ years, 45% 36.5% 36.3% 36.1% < 5 years, 40% 35.0% 34.6% 10% 4% 40% 35.0% 31.8% 31.8% 33.3% 32.1% 18% 35% 30.0% 28.8% 28% 29% 30% 24% 50-99 years, 25% 18% 25.0% 22.9% 14% 11% 20% 17% 17% 14% 20.0% 15% 10-24 years, 10% 25-49 years, 15.0% 34% 5% 23% 0% 10.0% Pre- 1970 1980 1990 1999 1970 to to to to 5.0% 1979 1989 1998 2009 0.0% Profit Sales Sales Number of (Quantity) (Dollar) Customers 2
  3. 3. 12/21/2009 Change in Profitability and Customer Business Environment Improvements Traffic Increased Stayed the Same Declined 1998 2009 70% 65.1% Upgrade Mix of Goods 60.5% 58.1% and/or Services 75.5% 60% Computerize 53.5% 50% Records/Inventory 58.8% 41.0% 40% 36.5% 36.1% Participate in Joint Marketing 31.8% 31.8% 41.9% 30% Efforts 56.9% 23.3% 22.9% 20.9% 18.6% 48.8% 20% Remodel Facilities 11.6% 55.9% 10% Attend Business Training 48.8% 0% 46.1% 2009 1998 2009 1998 30.2% Change Business Hours 28.4% Change in Profitability Change in Customer Traffic 0.0% 20.0% 40.0% 60.0% 80.0% Finances 67.7% Planned Business Expansion Roads 45.2% Other 21.9% Energy Costs 12.9% If you are expanding, what is the nature of this expansion? Transportation/Freight 12.9% Additional equipment/technology 62.5% Lack of Skilled Employees 6.5% Larger service area/geography 45.8% Identifying and Accessing New Markets 6.5% Additional services for customers 45.8% Local Taxes 3.2% Additional product lines 33.3% -10% 0% 10% 20% 30% 40% 50% 60% 70% Increased floor space 33.3% Breakdown by major constraints to business expansion Increased staff 25.0% Other 25.0% Companies were also asked if they had any barriers to renovation or expansion. Nearly forty percent (39.8%) 0% 10% 20% 30% 40% 50% 60% 70% indicated that they did. 3
  4. 4. 12/21/2009 Employees, 2009 Benefits Received by Employees Benefits Receive by Employees Full-time Full-time Part-time Part-time 2009 1998 2009 1998 100.0% 90.0% 87.3% 81.8% 80.0% 70.0% 65.5% 5-9, 13.4% 60.0% 54.5% 5-9, 50.0% 10-24, 17.3% 37.2% 27.9% 32.6% 0-4, 40.0% 25.6% 9.8% 0-4, 23.3% 27.9% 70.7% 30.0% 23.3% 20.9% 20.9% 72.0% 10-24, 20.0% 25-49, 1.2% 11.6% 9.3% 10.0% 7.0% 7.0% 50-99, 3.7% 100-249, 1.2% 0.0% Health Insurance Retirement Vacation Leave Sick Leave 100-249, 1.3% Yellow Springs as a Place to Conduct How would you rate the quality of Business public services/infrastructure? (Good/excellent)  One of every 2009 1998 three 90% Fire 97.9% respondents 80% 85% Public Schools 82% 92.4% (36.4%) 70% Gas 92.0% noted that 60% Yellow Police 91.0% 50% Springs is an Waste Disposal 90.1% excellent 40% 30% Sewer 78.3% place to conduct 20% Electric 78.2% business 10% 18% 14% Street Lighting 74.7% 0% Water 65.6% Good or Excellent Fair or Poor Roads 65.3% 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 4
  5. 5. 12/21/2009 Amenities in the Downtown Area Two of every three 80% 2009 1998 Survey Findings respondents 70% 76% (63.1%) 60% 67% Recommendations for Addressing the Survey believe that there is no 50% Findings need to 40% expand the area of the 30% 33% Central 20% 24% Business 10% District in Yellow 0% Springs Good or Excellent Fair or Poor Overall, business owners/managers Parking continues to be identified as a are satisfied with Yellow Springs problem by businesses Respondents The Village and Chamber should develop a Firms cite a The Village and the Chamber of indicated follow-up process to identify those firms with shortage of Commerce should work collaboratively to support for barriers to expansion. This may include a series spaces and address the parking issues. the creation of business focus groups or roundtables. convenience The Village and the Chamber should continue to when speaking Draw business district clientele to areas of business collaboratives assess the business community’s perception of of the current parking where lot parking is available by clearly to address strengths, weakness, barriers, attractions, and situation and a marking all available lots and infrequently concerns available services in a Retention and Expansion lack of used parking areas with easy to follow Survey deployed every five to ten years. satisfaction signage directing traffic to these areas. about with the business The Village and/or the Chamber of Commerce appearance of The Village should design a program to retention and should attempt to educate businesses about and the central expansion in business help businesses clean up and enhance their connect additional members from the business properties, possibly enforcing minimum the Yellow district. community with the Yellow Springs Together property maintenance codes. Springs study cooperative marketing plan. area 5
  6. 6. 12/21/2009 Recommendations Closures affect more than just the workers. Local economic development officials should conduct an economic impact study to Thank you. learn how these changes have and will affect their community. The Village or Chamber of Commerce should conduct exit Questions? interviews or surveys with the businesses who decided to relocate to other areas to inform economic development officials of the barriers to expansion or retention driving their decision to leave. The Village should also continue to sponsor the cost of living study every ten years. Local economic development officials should conduct an economic impact study to learn how these changes have and will affect their community. Closures affect more than just the workers. 6

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