Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Save to My Library
Look up keyword
Like this
2Activity
0 of .
Results for:
No results containing your search query
P. 1
Andersonville Summary

Andersonville Summary

Ratings: (0)|Views: 145 |Likes:
Published by Carl Mullan
The Andersonville Study of Retail Economics from 2004. Andersonville is a neighborhood on Chicago’s north side.
The Andersonville Study of Retail Economics from 2004. Andersonville is a neighborhood on Chicago’s north side.

More info:

Published by: Carl Mullan on Jan 15, 2010
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

01/14/2010

pdf

text

original

 
 
Modified February 2005 
 
THE ANDERSONVILLE STUDY OF RETAIL ECONOMICS OCTOBER 2004Civic Economics 1
HIGHLIGHTS OF THE ANDERSONVILLE STUDYwww.AndersonvilleStudy.com
 
In a study comparing the economic impact of ten Andersonvillebusinesses and their chain competitors, it was found that:
Locally-owned businesses generate a substantial LocalPremium in enhanced economic impact.
For every $100 in consumer spending with a local firm,$68 remains in the Chicago economy.
For every $100 in consumer spending with a chain firm,$43 remains in the Chicago economy.
For every square foot occupied by a local firm, localeconomic impact is $179.
For every square foot occupied by a chain firm, localeconomic impact is $105.
Consumers surveyed on the streets of Andersonvillestrongly prefer the neighborhood over agglomerations ofcommon chain stores.
Over 70% prefer to patronize locally-owned businesses.
Over 80% prefer traditional urban business districts.
Over 10% of respondents reside outside the City ofChicago.
 
The study points to clear policy implications.
Local merchants generate substantially greater economicimpact than chain firms.
Replacement of local businesses with chains will reducethe overall vigor of the local economy.
Changes in consumer spending habits can generatesubstantial local economic impact.
Great care must be taken to ensure that public policydecisions do not inadvertently disadvantage locally ownedbusinesses. Indeed, it may be in the best interests ofcommunities to institute policies that directly protect them.
 
THE ANDERSONVILLE STUDY OF RETAIL ECONOMICS OCTOBER 2004Civic Economics 2
EXECUTIVE SUMMARYAbstract:
The Andersonville Development Corporation, with the support of TheAndersonville Chamber of Commerce and funding by AndersonvilleSpecial Service Area #22, retained Civic Economics to evaluate theeconomic impact of the neighborhood’s locally-owned businesses andcompare that with the impact of competitive chains. With the activeparticipation of ten local firms, economic impacts were determined foreach. Economic impacts for ten chains were then determined. Toaccount for differences in revenue and size, those impacts were adjustedto two measures: impact per $100 revenue and impact per square foot.Because the locally-owned businesses and national chains were found togenerate comparable revenue per square foot of retail space, the localfirms were found to generate 70 percent greater local economic impactthan chains per square foot, or 58 percent by revenue.
Andersonville is a neighborhoodon Chicago’s north side. Itsprimary thoroughfare, ClarkStreet, bisects the neighborhoodand serves as its commercialcenter. The commercial district isdistinctive for its quaint facadesand greenery, its history as aSwedish settlement, its currentdiversity, and the notable dearthof chain outlets among itscountless shops, restaurants,and service providers.
 
However,national chains have expressedinterest in the community asdisposable income continues toincrease. These national chainsare able to pay above present market value on their leases, which has begundriving commercial rental rates up and longstanding local businesses out.The Andersonville Development Corporation (ADC), the Andersonville Chamberof Commerce (ACC) and Andersonville Special Service Area provide economicand market development services to the area. Civic Economics is an economicanalysis and strategic planning consultancy with offices in Austin and,coincidentally, Andersonville.Civic Economics previously conducted a widely cited study in Austin, Texas,assessing the economic impact of a publicly subsidized Borders Books & Musicstore seeking to locate across the street from locally-owned Book People andWaterloo Records. In those unique circumstances, it was demonstrated that the
Photo © Andersonville Chamber of Commerce
ANDERSONVILLE

Activity (2)

You've already reviewed this. Edit your review.
1 thousand reads
1 hundred reads

You're Reading a Free Preview

Download
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->