New Albany Renewal

New Albany Renewal is intended to serve as a repository for ideas relevant to preserving and restoring historic buildings, cleaning up neighboorhoods, revitalizing downtown, and improving the quality of life in New Albany, Indiana.

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Location: New Albany, Indiana

Wednesday, February 16, 2005

Economic Analysis of Independent Business

Small, locally-owned businesses provide economic diversity and stability.

Check out Civic Economics, a economic analysis and strategic planning consulting firm that conducts economic impact studies of specific types of development for various communities.

www.civiceconomics.com

Click on Economic Analysis and Strategic Planning For Sustainable Prosperity then click on Retail Economics for some of the studies conducted by Civic Economics.

See also, www.AndersonvilleStudy.com

The Andersonville study found that for every $100 spent in an independent business $68 stays in the local economy while for every $100 spent in a chain only $43 stays in the local economy.

For every square foot occupied by an independent business the local economic impact is $179 while it is $105 for chains.

The Institute for Local Self-Reliance is another interesting resource:

www.ilsr.org


Food-for-thought:

One study, actually paid for by Wal-Mart, showed that putting a superstore in Greenfield, MA would cost existing businesses $35 million in sales, leading to a net loss of 105,000 square feet of retail space and result in declines in property tax revenue .

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