Population growth is often a factor that service businesses and retailers look for when choosing locations. And while many are drawn to the large cities, smaller cities can offer just as much potential. That’s why in late 2017, we shared the top 16 fast-growing large micropolitan areas in the United States. And over two years later, it’s time for an update.
Maybe you’ve heard of the importance of running a void analysis when you’re recruiting retailers for your shopping center or trying to identify chain stores that are missing from your community. SiteSeer Professional’s tool, Void Analysis, is very beneficial—and not just for the broker or shopping center developer. Here are six people/users that should be using Void Analysis to grow the smart way:
Your community’s retail strategy can be proactive or reactive. A reactive strategy means that you evaluate businesses as they show interest in your community, rather than having your economic development team seek them out. Even if your community is in the enviable position of having the attention of the businesses you want to attract, is usually still makes sense to have a proactive strategy to ensure that you shape the type of environment desired by your residents and visitors.
Back in November, we assessed the top 16 fastest-growing large micropolitan areas in the United States. In case you need a refresher, a micropolitan area is defined by the Office of Management and Budget as a labor market area in the U.S. centered on a city with a population of at least 10,000 but fewer than 50,000 people. This is opposed to a metropolitan area, which has at least one city with a population of 50,000 or higher.
Every growing retailer wants to find the perfect location to expand their business. Large cities tend to capture the attention of many businesses, but don’t overlook “micropolitan” areas: markets with a core city of 10,000 to 50,000 population. These areas often have untapped potential and some distinct advantages over expanding into a larger market.
From December 6 to 7, 2017, SiteSeer will be at the International Council of Shopping Centers (ICSC) New York Deal Making conference in New York City.
If you’re a member of the International Council of Shopping Centers and will be at one of the organization’s upcoming conferences, be sure to make time to come see the SiteSeer team! We’ll be at the following conferences this fall:
There’s no question that recruiting retail is highly competitive and time consuming, and something many communities and cities struggle with. Most economic development councils have the same goals when it comes to retail recruitment:
We’re just two weeks away from the International Council of Shopping Centers (ICSC) Western Conference & Deal Making in Los Angeles. The SiteSeer team will be there and we’d love to meet you!
We’re just a week away from the International Council of Shopping Centers (ICSC) Florida Conference & Deal Making in Orlando. The SiteSeer team will be there and we’d love to meet you!