Hi everyone,
The LVMS blog is moving! One of the things we started noticing is that many of the stories we would post here (on urban revitalization, business trends, etc) also fit on the Chamber blog. Thus, in an effort to combine forces and readership, as well as give our readers more content, we are combining the Lehigh Valley Main Street blog with The Chamber's blog.
The new URL is http://lehighvalleychamber.blogspot.com. You will still be able to find the same great content and more.
See you over there!
Thursday, February 19, 2009
Wednesday, February 18, 2009
Comprehensive Plans
What, exactly, is a comprehensive plan?
This is a question that comes up quite a bit. I'm a big believer in the importance of planning. Without proper planning, a community will have absolutely no common vision or course of action. simple put, a municipal plan gives a community an idea of what they want to be and how they are going to get there. It is a long-range document that is meant to guide a community for many years.
Plans are crafted over a long period of time, often a year or more. The most critical component of any comprehensive plan is that they have appropriate community feedback. Public outreach is critical; otherwise, a plan will not be reflective of a community's will, and thus bound for failure.
These plans are expensive, depending on the size of the community and the scope of the plan, they can often run into six figures. Fortunately, an ample amount of state and local grant sources are available to help municipalities deal with the costs of these plans. Larger cities, like Allentown and Bethlehem, also have their own planning department that helps to create these plans. For example, Allentown's comp plan is on the internet.
Smaller communities often band together to form a regional comprehensive plan. For example, Alburtis, Emmaus, Lower Macungie, Lower Milford, Macungie and Upper Milford banded together in 2004 to form the Southwestern Lehigh Comprehensive Plan. Hellertown, Lower Saucon and the Saucon Valley School Board have formed the Saucon Valley Partnership and are looking to have their comprehensive plan approved in the next few months.
This is a question that comes up quite a bit. I'm a big believer in the importance of planning. Without proper planning, a community will have absolutely no common vision or course of action. simple put, a municipal plan gives a community an idea of what they want to be and how they are going to get there. It is a long-range document that is meant to guide a community for many years.
Plans are crafted over a long period of time, often a year or more. The most critical component of any comprehensive plan is that they have appropriate community feedback. Public outreach is critical; otherwise, a plan will not be reflective of a community's will, and thus bound for failure.
These plans are expensive, depending on the size of the community and the scope of the plan, they can often run into six figures. Fortunately, an ample amount of state and local grant sources are available to help municipalities deal with the costs of these plans. Larger cities, like Allentown and Bethlehem, also have their own planning department that helps to create these plans. For example, Allentown's comp plan is on the internet.
Smaller communities often band together to form a regional comprehensive plan. For example, Alburtis, Emmaus, Lower Macungie, Lower Milford, Macungie and Upper Milford banded together in 2004 to form the Southwestern Lehigh Comprehensive Plan. Hellertown, Lower Saucon and the Saucon Valley School Board have formed the Saucon Valley Partnership and are looking to have their comprehensive plan approved in the next few months.
Thursday, February 12, 2009
Mainstreet Grants
The Borough Business Revitalization Program (BBRP), in conjunction with the Greater Lehigh Valley Chamber of Commerce Foundation, Lehigh County and Northampton County, is pleased to announce the funding they have acquired over the past three years. As can be seen from the table, the BBRP has helped acquire over $692,000 for their various initiatives dealing with urban revitalization. The total cost of these various initiatives is expected to cost over $2 million dollars. This number is reflective of the strength of the various projects that the BBRP is working on in each community. It also reflects the high level of confidence that the various participating private and public agencies have placed in the BBRP.
BBRP Wide:
- Keep PA beautiful, think green grant- Five communities provided with 22 trash receptacals.
Total award: $10,000 (out of project cost $10,000)
- Keep PA Beautiful- Twelve Benches
Total award: $4,500 (out of project cost $4,500)
Alburtis:
- Lehigh County Main Street Planning Grant- Streetscape Planning Grant for Alburtis Streetscape plan
Total award: $11,212 (out of project cost $16,212)
- PA DCED Community Revitalization Grant (Senator Pat Brown)- Implementation of Streetscape Plan for Alburtis
Total award: $10,000 (out of project cost $800,000)
Bangor:
- PA DCED Downtown Reinvestment Grant- Downtown Sidewalks and Street Lighting
Total award: $488,000 (out of project cost $976,000)
- State Farm Good Neighbors Grant- Façade Program
Total award: $5,000 (out of project cost $18,500)
- PA DCED Community Revitalization Grant (Senator Lisa Boscola), Northampton County Streetscape Amenities Grant- Improvements of pocket park
Total award: $10,000, $5,000 respectively (out of project cost $15,000)
- Northampton County Economic Development Planning Fund, GLVCC Foundation Special Opportunities Grant- Professionally developed Vision & Action Plan
Total award: $8,506, $3,000 respectively (out of project cost $11,506)
Bath:
-GLVCC Foundation Special Opportunities Grant, Northampton County Streetscape Amenities Grant- Funding of new gateway signage
Total award: $2,000, $5,000 respectively (out of project cost $10,000)
-Northampton County Economic Development Planning Grant- Professionally developed Vision & Action plan
Total award: $7,500 (out of possible $11,506)
Catasauqua:
- Lehigh County Housing Authority, Lehigh County Main Street Amenities Grant, GLVCC Foundation Special Opportunities Grant- Streetscape & Borough Hall beautification
Total award: $4,500, $8,000, $1,000 respectively (out of possible $20,000)
- Lehigh County Main Street Planning Grant- Downtown Master Plan
Total award: $24,000 (out of project cost $32,000)
Coopersburg:
- PA DCED Community Revitalization Grant (Representative Lisa Boscola)- Façade Program
Total award: $5,000 (out of project cost $13,500)
- GLVCC Foundation Special Opportunities Grant, Lehigh County Main Street Planning Grant, Lehigh County CDBG, PA DCED LUPTAP- Grant to fund Comprehensive Plan
Total award: $2,000 (downtown), $5,086.00, $7,914.00, $15,000 respectively (out of project cost $30,000)
Hellertown:
- PA DCED Community Revitalization Grant (Senator Lisa Boscola)- Façade Program
Total award: $5,000 (out of project cost $13,500)
- Lutron Foundation- Streetscape Planning
Total award: $2,500 (out of project cost $20,000)
- GLVCC Foundation Special Opportunities Grant- Parking Study
Total award: $2,000 (out of project cost $4,000)
- PA DCED Community Revitalization Grant (Representative Bob Freeman)- Streetscape Amenities project
Total award: $5,000 (out of project cost $7,500)
Macungie:
-Lehigh County Main Street Planning Grant- Streetscape Planning Grant for Macungie Streetscape plan
Total award: $24,000 (out of project cost $32,000)
- GLVCC Foundation Special Opportunities Grant- Historical lighting in downtown
Total award: $2,000 (out of project cost $17,000)
- PA DCED Community Revitalization Grant (Representative Doug Reichley), Lehigh County Main Street Planning Grant- Downtown Master Plan
Total award: $5,000, $7,500 respectively (out of project cost $30,000)
- Lehigh County Main Street Streetscape Amenities Fund- Historic lighting
Total award: $8,000 (out of project cost $16,000)
N. Catasauqua:
Northampton County Streetscape Amenities Fund, GLVCC Foundation Special Opportunities Grant- Sidewalk and lighting project for park
Total award: $5,000, $1,000 respectively (out of project cost $20,000)
Wilson:
Northampton County Economic Development Planning Grant- Professionally Developed Economic Revitalization Strategy
Total award : $19,000 (out of project cost $30,000)
TOTAL:
$692,218 in funding for $2,272,724 of project costs
BBRP Wide:
- Keep PA beautiful, think green grant- Five communities provided with 22 trash receptacals.
Total award: $10,000 (out of project cost $10,000)
- Keep PA Beautiful- Twelve Benches
Total award: $4,500 (out of project cost $4,500)
Alburtis:
- Lehigh County Main Street Planning Grant- Streetscape Planning Grant for Alburtis Streetscape plan
Total award: $11,212 (out of project cost $16,212)
- PA DCED Community Revitalization Grant (Senator Pat Brown)- Implementation of Streetscape Plan for Alburtis
Total award: $10,000 (out of project cost $800,000)
Bangor:
- PA DCED Downtown Reinvestment Grant- Downtown Sidewalks and Street Lighting
Total award: $488,000 (out of project cost $976,000)
- State Farm Good Neighbors Grant- Façade Program
Total award: $5,000 (out of project cost $18,500)
- PA DCED Community Revitalization Grant (Senator Lisa Boscola), Northampton County Streetscape Amenities Grant- Improvements of pocket park
Total award: $10,000, $5,000 respectively (out of project cost $15,000)
- Northampton County Economic Development Planning Fund, GLVCC Foundation Special Opportunities Grant- Professionally developed Vision & Action Plan
Total award: $8,506, $3,000 respectively (out of project cost $11,506)
Bath:
-GLVCC Foundation Special Opportunities Grant, Northampton County Streetscape Amenities Grant- Funding of new gateway signage
Total award: $2,000, $5,000 respectively (out of project cost $10,000)
-Northampton County Economic Development Planning Grant- Professionally developed Vision & Action plan
Total award: $7,500 (out of possible $11,506)
Catasauqua:
- Lehigh County Housing Authority, Lehigh County Main Street Amenities Grant, GLVCC Foundation Special Opportunities Grant- Streetscape & Borough Hall beautification
Total award: $4,500, $8,000, $1,000 respectively (out of possible $20,000)
- Lehigh County Main Street Planning Grant- Downtown Master Plan
Total award: $24,000 (out of project cost $32,000)
Coopersburg:
- PA DCED Community Revitalization Grant (Representative Lisa Boscola)- Façade Program
Total award: $5,000 (out of project cost $13,500)
- GLVCC Foundation Special Opportunities Grant, Lehigh County Main Street Planning Grant, Lehigh County CDBG, PA DCED LUPTAP- Grant to fund Comprehensive Plan
Total award: $2,000 (downtown), $5,086.00, $7,914.00, $15,000 respectively (out of project cost $30,000)
Hellertown:
- PA DCED Community Revitalization Grant (Senator Lisa Boscola)- Façade Program
Total award: $5,000 (out of project cost $13,500)
- Lutron Foundation- Streetscape Planning
Total award: $2,500 (out of project cost $20,000)
- GLVCC Foundation Special Opportunities Grant- Parking Study
Total award: $2,000 (out of project cost $4,000)
- PA DCED Community Revitalization Grant (Representative Bob Freeman)- Streetscape Amenities project
Total award: $5,000 (out of project cost $7,500)
Macungie:
-Lehigh County Main Street Planning Grant- Streetscape Planning Grant for Macungie Streetscape plan
Total award: $24,000 (out of project cost $32,000)
- GLVCC Foundation Special Opportunities Grant- Historical lighting in downtown
Total award: $2,000 (out of project cost $17,000)
- PA DCED Community Revitalization Grant (Representative Doug Reichley), Lehigh County Main Street Planning Grant- Downtown Master Plan
Total award: $5,000, $7,500 respectively (out of project cost $30,000)
- Lehigh County Main Street Streetscape Amenities Fund- Historic lighting
Total award: $8,000 (out of project cost $16,000)
N. Catasauqua:
Northampton County Streetscape Amenities Fund, GLVCC Foundation Special Opportunities Grant- Sidewalk and lighting project for park
Total award: $5,000, $1,000 respectively (out of project cost $20,000)
Wilson:
Northampton County Economic Development Planning Grant- Professionally Developed Economic Revitalization Strategy
Total award : $19,000 (out of project cost $30,000)
TOTAL:
$692,218 in funding for $2,272,724 of project costs
Wednesday, February 11, 2009
Lehigh Valley Crime Map
Hi everyone,
The Morning Call has a relatively new feature that I wanted to share. It is their Lehigh Valley Crime Map. The map lists where crimes were reported and also has a link to a Morning Call story on that crime, if applicable.
This is one of the many ways that technology can be used to keep local residents better informed of the happenings in their local municipality. In the long-run, wouldn't it be great if local governments could utilize their intern websites to have more than just contact information? Things like forms, a calendar of events, information about criminal activity, garbage pick-up, ability to pay taxes online, etc.
Governments in the 21st century have to stop limiting themselves to 20th century methods of government. A great example of this is Macungie's website. The website contains a large variety of information, including permits & zoning forms, a business directory, calendar of events and information on parks and recreation, among other things. It even has a link to their comprehensive plan!
The internet has proven massively effective in increasing democracy by opening up government and making it more accessible to the masses. I would love to see more governments have website's like Macungie's. I am also very curious to see how governments can take advantage of social networking in the future.
The Morning Call has a relatively new feature that I wanted to share. It is their Lehigh Valley Crime Map. The map lists where crimes were reported and also has a link to a Morning Call story on that crime, if applicable.
This is one of the many ways that technology can be used to keep local residents better informed of the happenings in their local municipality. In the long-run, wouldn't it be great if local governments could utilize their intern websites to have more than just contact information? Things like forms, a calendar of events, information about criminal activity, garbage pick-up, ability to pay taxes online, etc.
Governments in the 21st century have to stop limiting themselves to 20th century methods of government. A great example of this is Macungie's website. The website contains a large variety of information, including permits & zoning forms, a business directory, calendar of events and information on parks and recreation, among other things. It even has a link to their comprehensive plan!
The internet has proven massively effective in increasing democracy by opening up government and making it more accessible to the masses. I would love to see more governments have website's like Macungie's. I am also very curious to see how governments can take advantage of social networking in the future.
Monday, February 9, 2009
Legislative Alert
This message comes from Geoff Brace with the Pennsylvania Downtown Center, regarding the Governor's proposed budget and how it will affect the Main and Elm Street programs:
Legislative Alert
Governor’s Proposed Budget
What it means for Main Street and Elm Street and What YOU can do today!
On February 4, 2009, Governor Rendell released his budget proposal for FY 2009-2010. There was a build up in anticipation over this budget after several cuts were made to the FY 2008-2009 budget in December of 2008. Amongst the cuts in the mid-year review of the 2008-2009 budget were freezes in New Communities’ spending and a total cut of approximately $2.3 million (13.29% cut). This dropped the line item for New Communities from $18 million to $15.4 million for the FY 2008-2009 budget.
The FY 2009-2010 budget includes additional spending cuts, though not as drastic as had been feared. This budget projects $15 million in spending for FY 2009-2010, a cut of approximately $400,000 over the revised projections from FY 2008-2009. In total, from FY 2007-2008, this represents a total of $3 million in cuts to the New Communities budget, a total of 15% cut. It should be worth noting that several other community development line items, including the Community Revitalization Program, Urban Development Program, Community and Business Assistance Program, Community and Municipal Facilities Program, Local Government Resources and Development Program and Regional Development Initiative Program were all cut completely, representing a total elimination of $101 million. The Community Action Team, Community Conservation and Employment, Economic Advancement and Community and Regional Development budgets were also significantly reduced. In other words, Community Development, as a whole in this budget, has taken significant cuts in budgeted spending for 2009-2010.
PDC is already making arrangements to provide budget testimony in attempts to either restore funding to the 2008-2009 budget projections or at a minimum ensure that the cuts to funding do not exceed the Governor’s proposal. While other programs throughout the budget were eliminated completely, PDC staff is comfortable in saying that the Governor continues to show his commitment to Pennsylvania’s Core Communities when he reduced rather than eliminated funding for Main Street and Elm Street. In today’s economic climate, simply said, this could have been worse.
What Can You Do Today
The budget presented yesterday was Governor Rendell’s proposal. It is not law until approved by both chambers of the General Assembly. If the last several years are any indication, this will be a long process until approval. Expect both chambers to debate this vigorously. While the budget is supposed to be passed and signed into law by the end of June, expect this to drag out through the summer. This means you will have several opportunities to advocate to your legislators on this matter. Effective advocacy, however, starts early and is a constant relationship with your legislators. PDC has prepared the following action steps to get you started in your advocacy efforts TODAY:
1. Make sure your 2008 quarterly reports are completed and submitted to PDC. PDC anticipates having to provide testimony on the impact of Main Street and Elm Street across the commonwealth. In order to do that, we are relying on YOUR reports. There are several communities that have outstanding reports that need to be submitted through the online reporting system ASAP. Not only do your reports tell the story of what is happening in your community, but they also help to create a statewide picture that tells of the true economic and community impact of Main Street and Elm Street. To help you tell this story, PDC has attached the State of the Downtown and State of the Neighborhood Summaries for 2008.
2. Contact your state representative and state senator to make an appointment (see the link below to find your elected officials). Do this now! Do not delay this step. The purpose of that appointment is to educate your representative and senator about progress being made in your community. The most important part of advocacy is education and your initial visit should be to educate about your community revitalization efforts. Use the PDC assessment to provide data and your quarterly reports to paint a picture of change in your community. Provide narrative stories of business owners and home owners who received assistance and were able to make investments as a result of Main Street and Elm Street. Main Street and Elm Street certainly do make an impact on the Pennsylvania economy. As more communities update their reports, PDC will provide updated aggregates for both the State of the Downtown Report and State of the Elm Street Report. At the latest, expect this to be provided at the manager’s meetings in March.
3. As you are finishing your appointment, your state legislator will likely ask what he or she can do to help you. In addition to any other specific needs you might have for your community, ask your state representative to preserve the budget for the New Communities Programs. Ask specifically that the funding to be preserved at the level of $17.7 million from FY 2008-2009.
4. Email geoffbrace@padowntown.org with the date of your appointment with your state representative and state senator. This will allow PDC to track which members need to be targeted most specifically.
5. Send a thank you letter to your state legislator with a reminder of the need to preserve the
budget for the New Communities Programs. Offer both yourself and PDC as a resource to help your legislator make informed decisions on this matter. Provide your contact information and contact information for Bill Fontana (billfontana@padowntown.org) or Geoff Brace (geoffbrace@padowntown.org) and the Harrisburg office (717-233-4675).
To find your legislator
Visit http://www.legis.state.pa.us/ and type your zip code in the box found in the upper right hand corner of the page.
Legislative Alert
Governor’s Proposed Budget
What it means for Main Street and Elm Street and What YOU can do today!
On February 4, 2009, Governor Rendell released his budget proposal for FY 2009-2010. There was a build up in anticipation over this budget after several cuts were made to the FY 2008-2009 budget in December of 2008. Amongst the cuts in the mid-year review of the 2008-2009 budget were freezes in New Communities’ spending and a total cut of approximately $2.3 million (13.29% cut). This dropped the line item for New Communities from $18 million to $15.4 million for the FY 2008-2009 budget.
The FY 2009-2010 budget includes additional spending cuts, though not as drastic as had been feared. This budget projects $15 million in spending for FY 2009-2010, a cut of approximately $400,000 over the revised projections from FY 2008-2009. In total, from FY 2007-2008, this represents a total of $3 million in cuts to the New Communities budget, a total of 15% cut. It should be worth noting that several other community development line items, including the Community Revitalization Program, Urban Development Program, Community and Business Assistance Program, Community and Municipal Facilities Program, Local Government Resources and Development Program and Regional Development Initiative Program were all cut completely, representing a total elimination of $101 million. The Community Action Team, Community Conservation and Employment, Economic Advancement and Community and Regional Development budgets were also significantly reduced. In other words, Community Development, as a whole in this budget, has taken significant cuts in budgeted spending for 2009-2010.
PDC is already making arrangements to provide budget testimony in attempts to either restore funding to the 2008-2009 budget projections or at a minimum ensure that the cuts to funding do not exceed the Governor’s proposal. While other programs throughout the budget were eliminated completely, PDC staff is comfortable in saying that the Governor continues to show his commitment to Pennsylvania’s Core Communities when he reduced rather than eliminated funding for Main Street and Elm Street. In today’s economic climate, simply said, this could have been worse.
What Can You Do Today
The budget presented yesterday was Governor Rendell’s proposal. It is not law until approved by both chambers of the General Assembly. If the last several years are any indication, this will be a long process until approval. Expect both chambers to debate this vigorously. While the budget is supposed to be passed and signed into law by the end of June, expect this to drag out through the summer. This means you will have several opportunities to advocate to your legislators on this matter. Effective advocacy, however, starts early and is a constant relationship with your legislators. PDC has prepared the following action steps to get you started in your advocacy efforts TODAY:
1. Make sure your 2008 quarterly reports are completed and submitted to PDC. PDC anticipates having to provide testimony on the impact of Main Street and Elm Street across the commonwealth. In order to do that, we are relying on YOUR reports. There are several communities that have outstanding reports that need to be submitted through the online reporting system ASAP. Not only do your reports tell the story of what is happening in your community, but they also help to create a statewide picture that tells of the true economic and community impact of Main Street and Elm Street. To help you tell this story, PDC has attached the State of the Downtown and State of the Neighborhood Summaries for 2008.
2. Contact your state representative and state senator to make an appointment (see the link below to find your elected officials). Do this now! Do not delay this step. The purpose of that appointment is to educate your representative and senator about progress being made in your community. The most important part of advocacy is education and your initial visit should be to educate about your community revitalization efforts. Use the PDC assessment to provide data and your quarterly reports to paint a picture of change in your community. Provide narrative stories of business owners and home owners who received assistance and were able to make investments as a result of Main Street and Elm Street. Main Street and Elm Street certainly do make an impact on the Pennsylvania economy. As more communities update their reports, PDC will provide updated aggregates for both the State of the Downtown Report and State of the Elm Street Report. At the latest, expect this to be provided at the manager’s meetings in March.
3. As you are finishing your appointment, your state legislator will likely ask what he or she can do to help you. In addition to any other specific needs you might have for your community, ask your state representative to preserve the budget for the New Communities Programs. Ask specifically that the funding to be preserved at the level of $17.7 million from FY 2008-2009.
4. Email geoffbrace@padowntown.org with the date of your appointment with your state representative and state senator. This will allow PDC to track which members need to be targeted most specifically.
5. Send a thank you letter to your state legislator with a reminder of the need to preserve the
budget for the New Communities Programs. Offer both yourself and PDC as a resource to help your legislator make informed decisions on this matter. Provide your contact information and contact information for Bill Fontana (billfontana@padowntown.org) or Geoff Brace (geoffbrace@padowntown.org) and the Harrisburg office (717-233-4675).
To find your legislator
Visit http://www.legis.state.pa.us/ and type your zip code in the box found in the upper right hand corner of the page.
Thursday, February 5, 2009
Governor's Proposed Cuts
The Governor gave his budget address to the Pennsylvania legislature yesterday, and as expected, the news isn't good. In order to close a yawing $2.3 billion budget hole, the Governor has proposed a massive amount of cuts, totaling $400,000,000. For the whole list, click here.
The plurality of the cuts, as expected, fell on the Department of Community & Economic Development. Quite a few programs were slashed. As far as I can tell, the New Communities Program (under which Main Street funding is housed) is safe, but many many other programs were not so lucky. Below is a list of what was cut. The number next to the program indicates the amount, in thousands. All of these programs have been totally eliminated.
18 Cultural Exhibitions and Expositions $6,300
19 Base Realignment and Closure 272
20 Workforce Leadership Grants 3,010
21 Emergency Responders Resources and Training 5,500
22 Family Savings Accounts 987
23 Local Government Resources and Development 10,000
24 Tourism - Accredited Zoos 2,228
25 Community Revitalization 40,200
26 Urban Development 20,500
27 Community and Business Assistance 2,500
28 Economic Growth & Development Assistance 6,800
29 Community & Municipal Facilities Assistance 5,500
30 Market Development 100
31 Super Computer Center 900
32 Infrastructure Technical Assistance 3,926
33 Minority Business Development 3,000
34 Fay Penn 600
35 Tourist Product Development 1,974
36 Manufacturing and Business Assistance 1,000
37 PENNTAP 75
38 Agile Manufacturing 675
39 Powdered Metals 200
40 Regional Development Initiatives 13,484
41 Digital & Robotic Technology 2,000
42 Cultural Activities 3,832
The plurality of the cuts, as expected, fell on the Department of Community & Economic Development. Quite a few programs were slashed. As far as I can tell, the New Communities Program (under which Main Street funding is housed) is safe, but many many other programs were not so lucky. Below is a list of what was cut. The number next to the program indicates the amount, in thousands. All of these programs have been totally eliminated.
18 Cultural Exhibitions and Expositions $6,300
19 Base Realignment and Closure 272
20 Workforce Leadership Grants 3,010
21 Emergency Responders Resources and Training 5,500
22 Family Savings Accounts 987
23 Local Government Resources and Development 10,000
24 Tourism - Accredited Zoos 2,228
25 Community Revitalization 40,200
26 Urban Development 20,500
27 Community and Business Assistance 2,500
28 Economic Growth & Development Assistance 6,800
29 Community & Municipal Facilities Assistance 5,500
30 Market Development 100
31 Super Computer Center 900
32 Infrastructure Technical Assistance 3,926
33 Minority Business Development 3,000
34 Fay Penn 600
35 Tourist Product Development 1,974
36 Manufacturing and Business Assistance 1,000
37 PENNTAP 75
38 Agile Manufacturing 675
39 Powdered Metals 200
40 Regional Development Initiatives 13,484
41 Digital & Robotic Technology 2,000
42 Cultural Activities 3,832
Tuesday, February 3, 2009
Recession hits big boxes, too
Interesting article that originally appeared in the Minneapolis Star Tribune. It deals with what some have called the "second wave" of the foreclosure/recession crisis that the U.S. is currently experiencing - the retail crash. The article deals with the fact that the U.S. has been building retail space at a rate that far exceeds consumer spending. The rest, even prior to the recession, was a massive amount of empty retail space, often concentrated in central cities. Rather than attempt to rehabilitate these cities, big-box retailers and developers often found it cheaper and easier to build new, shinier strip malls and big box stores. The model had always been profitable.
Well, that is definitely about to change. This country was "overstorred" with retail space in 2003 - and now, with consumer spending hitting declining for the 6th month in a row, development slowing and available credit shrinking, big-box stores and strip malls are about to get hit. Hard. Check out the article to learn more.
Well, that is definitely about to change. This country was "overstorred" with retail space in 2003 - and now, with consumer spending hitting declining for the 6th month in a row, development slowing and available credit shrinking, big-box stores and strip malls are about to get hit. Hard. Check out the article to learn more.
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