Rochester NH is Hot for Retail Action!

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Expansion Solutions Magazine article from Summer 2011 about Rochester's preparation and investment in a successful retail attraction and expansion strategy.

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Rochester NH is Hot for Retail Action!

  1. 1. Community SuccessWhy is Rochester HOT for Retail? IJob Growth sis firm. Buxton provided analysis of the operations to their Springfield, MA ndustrial success has everything market area consumer buying and media facility. All of this activity will benefit to do with retail. Rochester has habits, in addition to a list of retailers from New Hampshire DOT’s Spaulding eight industrial parks supporting matching the marketplace and seeking Turnpike construction, which will double long-term growth opportunities New Hampshire locations. Estimates for traffic capacity in the next two years. Allin target sectors. The city has been in the consumer demand exceed $2.6 Billion. six city exits and ramps will be improvednews as the New Hampshire center for This matchmaking provides the city with along with the related local roads in theadvanced manufacturing and cutting-edge likely targets for Downtown and Highway commercial zone.composite materials, bringing with it hun- commercial locations.dreds of new high-tech jobs. Corporate Rochester Supports Commercialexpansions are on the rise and Albany Accelerating Retail Growth ExpansionInternational recently announced the Rochester’s retail efforts have filled in The city has created the Granite Ridgerelocation of their corporate headquarters multiple commercial districts including, Development District, Rochester’s largestfrom Albany, NY to Rochester, NH. What the 2008 Rochester Crossing, by The dedicated commercial and hospitality dis-does industrial success have to do with trict. Tax Increment Financingretail? Everything. Especially when you (TIF) will support public infra-ask the major employers structure improvements. Theabout amenities like host- District’s 675 acres border theing business meetings, Spaulding Turnpike and includeshopping, entertainment the central corridor between theand dining options. Seacoast and the Lakes Region of New Hampshire, serving theDesirable Community southern part of the state and Rochester has all the Maine residents, as well as visi-amenities of your typical tors traveling between touristNew England city. It has destinations. A 90-acre parcela historic Downtown with has been excavated in prepa-an iconic gazebo, friendly ration for a proposed 265,000residents and a legacy of sq. ft. retail center. Additionaltextile manufacturing. development sites connect toRochester’s historic City the new center, including theHall does double-duty as 225,000 sq. ft. Super Wal-Mart,the Rochester Opera House, anchoring the retailers alreadyan active performing arts located in the District.center. The city boasts animpressive expansion of Opportunities Aboundthe Spaulding Turnpike, With all of this growth doesinvesting $135 Million, Rochester have the demandand now has hundreds of for more commercial expansion? Yes!acres zoned for retail and Wilder Company. The 300,000 sq. ft. The latest evaluation shows continuinghospitality development. development is at 95% occupancy and leakage in key categories and points out brought Lowe’s, Kohl’s and other retail opportunities for an additional 1 millionPopulation Growth & Unmet superstars to the region. The Kane sq. ft. to serve the expanding residentialConsumer Demand Company is marketing the remaining 17 and business community. The community’s climbing population acres available near the Turnpike Exit Rochester is a HOT retail destination.(4.5% in the 2010 Census) has outpaced 13 after New Hampshire DOT presented It is a progressive community with theretail growth. Rochester’s market area as plans for a Park & Ride. Nearby right attributes and is eager for amenitiesa regional hub of commercial develop- construction is beginning on a CVS and to balance their residential and industrialment has blossomed to more than 210,000 Laconia Savings Bank near Home Depot, success. You need to visit this gem in thepeople with an average income of $71,655. Hannaford and several quick service Seacoast of New Hampshire!Leakage has continued to be a substan- restaurants. Additional redevelopment Karen Pollard, CEcD, EDP is thetial concern for business retention and opportunities are available in and near the Economic Development Manager for theattraction. To develop a retail enhance- Globe Plaza, anchored by Planet Fitness City of Rochester, New Hampshire andment strategy that addresses this con- and Family Dollar. The 13-acre Smith & is one of the New Hampshire Businesscern, the city authorized a comprehensive Wesson retail and manufacturing campus R e v i e w ’s “ O u t s t a n d i n g Wo m e n i nretail analysis by the Buxton Company, will be available for retail redevelopment Business,” for 2011. Ca nationally recognized consumer analy- during the next year, as they consolidate www.ExpansionSolutionsMagazine.com 85

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