Monday, July 5, 2010

City gets $15,000 from state for study to create strategy for downtown business development

The state has given the City of Midway $15,000 for a market study to create a strategy for downtown business development. Midway Renaissance, whose contractor doubles as director of the city's Main Street program, said in a press release today that it "will work with representatives of the city and the Midway Business Association to hire a consultant and engage the whole community in the project."

The release said market studies are "used by businesses, developers, governments, and citizens for making better-informed decisions. The process includes documenting details about the downtown's current condition, exploring changes occurring in the marketplace, verifying what consumers want from downtown, discovering what businesses the downtown market will support, and creating a downtown business development strategy.  . . . Once a detailed picture of the downtown economy emerges, Midway Renaissance will work with all stakeholders to shape a business retention campaign that includes providing assistance and training to existing businesses, and participate in a recruitment campaign to compliment existing businesses. Recruitment will target businesses that people want and that the market will support."

Renaissance said the study will include public meetings: "Input and participation from the broader community is important so that recommendations resulting from the study reflect both market conditions as well as the preferences of the community. Local input provides fresh ideas and community ownership of the project. This buy-in is especially important after the analysis is done and its time to implement the study's recommendations."

The grant comes from from the Department for Local Government. Renaissance President Randy Thomas said in the release, “Our proposal was a joint effort and I believe that the market study will provide all of us with very valuable information as we work together to make Midway an even better place to live, work and prosper.” For more information contact Main Street Manager Marcie Christensen at 846-4049 or Thomas at 312-9891. News and updates on the project will be posted at http://www.midwayrenaissance.org/.

No comments: