Friday, August 27, 2010

Clayton Downtown Development Association Releases FY09/10 Downtown Statistics

Downtown Clayton showed a net gain of 8 new businesses and 19 new jobs from July 1, 2009 through June 30, 2010 according to statistics released by the Clayton Downtown Development Association. There was one business expansion; three facade improvements and two buildings were renovated. Private investment in downtown, including property purchases and improvements totaled $987,027. There was $1,113,704 in public investment, which includes local, state, federal funds and grants.

Downtown Development Coordinator Bruce Naegelen said there were only four businesses that closed in downtown in the past fiscal year, which is the fewest number of businesses closed since 2005/06 when statistical tracking began. He noted that three of those businesses closed because of personal circumstances. Naegelen said, ”The numbers show, again, that downtown Clayton has a reasonably stable business environment.”

During the past fiscal year, for every public dollar invested in downtown Clayton $.89 was invested privately, but the water/sewer/curb/gutter improvements to Second, Barbour and Church streets, accounted accounted for $875,000 of the $1.1 million in public investment.

Leslie Hubbard, chair of the DDA’s Economic Restructuring committee said, ”There has been less private investment this year than in the past, but the cumulative investment ratio still shows over the past four years that for every public dollar spent, $5.50 in private investment is made in downtown.”

DDA Chair, Ed Knight said the message to property and business owners, current and future is that, ”The Town of Clayton continues to value the importance of downtown with its project investments, including the recent Second Street project, but also the current Town Lot improvements at Lombard & Main and the upcoming Law Enforcement Center.”

The DDA keeps track of these statistics each year as one measurement of economic development in downtown Clayton. These statistics are also provided to the NC Main Street Center to help provide a statewide picture of downtown development. Other economic development measurements include an annual survey of downtown retail and service businesses and market analysis.

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