From Staff Reports
Corsicana Daily Sun
Corsicana’s Main Street Program has begun work on the final phase of a downtown market analysis with a goal of creating a business development strategy.
Steve Dieterichs, Corsicana’s Main Street Director, said in a news release the downtown market analysis is the process of documenting details about the downtown’s current condition, exploring changes occurring in the marketplace, verifying what consumers want from downtown, and discovering what businesses the downtown market will support.
Many communities must hire professional consultants for a substantial fee in order to have access to this important tool used by businesses, property owners, developers, bankers and investors for making better-informed decisions. Corsicana Main Street will complete their downtown market analysis with the help of Jasmine Jennings, a participant of the Public Office Internship Initiative of the North Texas Council of Governments. The project is also receiving free technical assistance from the University of Wisconsin Extension Center for Community Economic Development. This free technical assistance is one of the many benefits Corsicana receives as a member of the national Main Street community.
In weeks to come, Dieterichs said Corsicana property and business owners will see Jennings inventorying downtown businesses and buildings, interpreting existing consumer and business owner survey results, writing a downtown market profile, and weighing the supply of various business categories against the demand for those business categories.
Once they have a detailed picture of the downtown’s economy, the Corsicana Main Street Program will shape a business retention campaign that includes the continuation of assistance and training to existing businesses in partnership with the Small Business Development Center at Navarro College. Next they will shape a recruitment campaign to complement existing businesses and buildings downtown.
Recruitment will target businesses that people want and that the market will support. With their market analysis in hand, Corsicana Main Street will have a better chance of bringing business prospects downtown.
For more information on the downtown market analysis, contact Dieterichs at (903) 654-4851.
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