Why are downtowns, urban corridors, and neighborhood business districts important?
Commercial corridors, downtowns, and neighborhood business districts represent jobs and revenues—both vary from community to community, and sometimes represent as much as 30% of local jobs and revenue sources. Downtowns, in particular, define the local identity and reflect that community’s history and ‘sense of place.’
What are the benefits of revitalization?
- Revitalization generates reinvestment. Private investment in businesses and commercial properties, and public investment in infrastructure create economic benefits for the entire district.
- Revitalization supports business growth and job creation. Viable commercial districts provide places for entrepreneurs to succeed, increasing the viability and vitality of the commercial area.
- Revitalization supports economic growth throughout the community. Downtowns and local districts project the community’s image to visitors and potential investors. Healthy commercial districts reflect a community that cares.
- Revitalization provides local focus and stability. Economically strong commercial districts serves as an anchor for the community and represent consistent economic growth.