Growing the Local Retail Sector: Case Studies

Growing the Local Retail Sector: Case Studies

Focusing on the growth of the retail sector is a valuable strategy for improving the economic conditions of a region. There is no one approach to growing the retail sector, but most successful growth efforts share a common characteristic: focus. By focusing on retail growth as its own segment of the local economy, economic development councils, chambers of commerce, and municipalities can create a measurable growth that will positively impact the quality of life for residents.

Examples of focused efforts to grow the retail sector can be found in Texas’ East Montgomery County, Augusta, GA, and Putnam County, FL. These examples demonstrate that, by leveraging strategic economic development tools, regional assets, and community partnerships, agencies and municipalities can attract new retail businesses and foster sustainable retail growth.

East Montgomery County Improvement District (EMCID) – Texas

The East Montgomery County Improvement District (EMCID) has been proactive in positioning itself as a retail hub within the greater Houston, TX area. One of EMCID’s main growth strategies involves capitalizing on the region's proximity to the rapidly growing Houston metropolitan area and the access provided by major transportation routes like Interstate 69 and U.S. Highway 59. EMCID's approach to boosting retail growth includes offering financial incentives such as land grants, tax rebates, and infrastructure support to companies willing to invest in the area. These incentives help attract both small businesses and large retail developments, promoting job creation and economic vitality.

In addition to creating an attractive economic environment for new businesses, EMCID also provides support to new businesses. The organization leverages Facebook marketing and event promotion to highlight retail events and shopping opportunities offered by local restaurants and retailers.

EMCID also provides workforce training funds for employees in local businesses. Any new employees who move to the area to work for a local company can also have their children take advantage of a scholarship program that provides $1,600 for each child to take college courses.

Recent projects in the district have included the development of major shopping centers such as the Valley Ranch Town Center, which features a mix of retail, dining, and entertainment options. 

EMCID further demonstrated its commitment to the retail sector by adding a Vice President of Retail Development to its team. Christopher Bontrager joined the team in July, bringing significant experience in the retail sector and economic development. In his new role, Bontrager will lead efforts to expand retail operations and identify key opportunities for growth.

Augusta Economic Development Authority (EDA) – Georgia

In Augusta, GA, the Economic Development Authority (EDA) has been instrumental in fostering a retail-friendly environment. Augusta's strategy focuses on enhancing the city’s appeal as a regional shopping destination, capitalizing on its large population base and its position as a hub for surrounding communities. The organization has a dedicated staff member, Manager of Commercial and Retail Development Timothy McFalls, Sr., whose role is to develop, direct, and coordinate programs for new and existing retail and commercial business investments within the region. 

A key initiative has been the creation of relationships with builders of multifamily developments, working with them on the inclusion of retail and or commercial space in their original designs and back filling those spaces during construction. This strategy creates a retail tenet revenue stream the developer can count on prior to renting out the first residential unit.

Augusta EDA has also been working with Augusta Housing and Community Development (HCD), recruiting a grocer to an underserved area in the historic Laney Walker Boulevard corridor, creating neighborhood-based retail projects to diversify the local retail landscape and provide shopping options closer to where those residents live.

"Without retail and commercial development and expansion, communities struggle to retain the talent being developed in their learning institutions and recruited workforce,” said McFalls. “We understand that and work hard every day creating a community diverse in its offerings, from shopping to entertainment, foodies to sports fans!"

Augusta’s economic development efforts are intertwined with the city’s push to improve its South Augusta district, blending industrial, retail, and commercial projects in a way that fosters a vibrant community. Forging these important partnerships and relationships, Augusta’s EDA is creating an attractive environment for both national chains and local entrepreneurs

Putnam County Chamber of Commerce – Florida

The Putnam County Chamber of Commerce in Florida has taken a significant step toward boosting local economic growth by engaging Retail Strategies of Birmingham, AL, on a three-year contract. The goal of this partnership is to identify and attract new retail, restaurant, and hospitality businesses to the community. As part of their efforts, Retail Strategies has already conducted a comprehensive review of the current retail operations in Putnam County and visited potential sites for future development, focusing on key areas such as Palatka, Crescent City, and Welaka.

Retail Strategies, known for its expertise in retail economic development, has been tasked with identifying suitable business prospects and helping to position Putnam County as a desirable location for retailers, restaurants, and hospitality companies. The company’s involvement includes not only scouting for potential clients but also providing strategic advice on how to market available properties and highlight the county's growth potential to prospective retail businesses.

This initiative is a key part of the Chamber's new 2024-2028 strategic action plan, Elevate Putnam County. Elevate Putnam is a five-year, multi-million-dollar initiative designed to increase local residents’ quality of life. The goals for Elevate Putnam include creating 750 primary jobs and more than 220 indirect support jobs, securing $500 million in new capital investment, generating more than $65 million in new annual earnings, and adding $36 million in new local annual consumer expenditures. One important component of the effort is bringing new retail business to the area, recognizing that doing so will increase job opportunities, diversify the economic base, and enhance the quality of life for residents.

By bringing in new retail operations, Putnam County also aims to revitalize key commercial areas. As Retail Strategies continues its work over the remainder of its three-year contract, the Chamber is optimistic that this effort will significantly impact the economic landscape of the county, helping to drive growth and development in the region.

Conclusion

The strategies employed by the East Montgomery County Improvement District, Augusta’s Economic Development Authority, and Putnam County Chamber of Commerce reflect a broader trend of regional collaboration, infrastructure investment, and strategic incentives aimed at spurring retail growth. Each region is leveraging its unique geographic advantages and economic assets to attract businesses, create jobs, and enhance local quality of life through targeted retail development initiatives.