The coronavirus pandemic could permanently close millions of small businesses, including some that occupy storefronts in your downtown. With many downtowns all but closed for business, the restaurants, bars, and beauty salons that form the backbone of many commercial corridors face an existential threat. See the full report from the Main Street America survey. Of…To read more — login/subscribe
The coronavirus pandemic has hammered downtowns. While the duration of this disruption is unclear, the impact of coronavirus will be broad, deep, and unrelenting. Even so, downtown leaders must carry on. Economic development professionals suggest a range of strategies for supporting at-risk businesses, protecting the downtown’s market position, and growing the local economy in the…To read more — login/subscribe
As the coronavirus pandemic closed downtowns across North America, downtown Detroit’s biggest landlord tried something different. Bedrock, a major property owner in the struggling city’s commercial core, told tenants it wouldn’t collect their rent. The most generous rent forgiveness terms go to small businesses, while bigger companies can get smaller breaks. “It is going to…To read more — login/subscribe
In big cities and medium-sized metro areas, downtown leaders take for granted that the city center will be filled with grocery stores, fitness facilities, and pet-adoption centers. It’s a different story in small downtowns, however. Consumers in rural areas might have to drive for hours for basic services. That reality caught the attention of William…To read more — login/subscribe
For many downtowns, attracting and keeping businesses is a daunting task. Downtown merchants often are independent businesses that lack sophisticated support networks and deep reserves of capital. Some downtown leaders have taken pains to make life easier for business owners. The Wisconsin Economic Development Corp. (WEDC) points out several successful examples of downtowns that are…To read more — login/subscribe
Event management expert Lynn Fuhler looks at downtowns near her home base of Winston-Salem, NC, and sees no shortage of “trails” — themed walking or driving tours that draw in customers by playing up assets that local folks might take for granted. Downtown Asheville, NC, for instance, offers architectural tours showcasing the city’s 1920s buildings.…To read more — login/subscribe
As Hurricane Florence loomed in September 2018, downtown leaders in Wilmington, NC (est. pop. 122,610), had plenty of time to prepare. Downtown Wilmington Inc. canceled a commercial property showcase and collected cell phone numbers from downtown merchants. Workers took down street banners, removed hanging flower baskets, and scoured the downtown district for trash can lids,…To read more — login/subscribe
Brett Roler still cringes when he recalls walking through a block that he considered one of the liveliest stretches of Memphis’ pedestrian mall. Roler, vice president of planning and development for the Downtown Memphis Commission, eavesdropped on the group of tourists strolling ahead of him — and he learned the visitors viewed the section of…To read more — login/subscribe
Opportunity Zones, those tax-advantaged areas created as part of President Donald Trump’s 2017 tax package, aren’t living up to expectations. The U.S. Treasury Department expected the program to spur investment in blighted neighborhoods and transitioning urban areas totaling $100 billion. The actual amount is likely to be just a fraction of that, perhaps $10 billion…To read more — login/subscribe
In Tucson, AZ (est. pop. 545,987), and Boston, shared kitchens have attracted dozens of entrepreneurs who run catering businesses and food trucks. The concept is taking off nationally, in big cities such as Los Angeles, Chicago, and Atlanta and smaller cities like Shreveport, LA, Harrison, MI, and Loveland, CO, where community kitchens act as incubators…To read more — login/subscribe
