CROSS PLAINS CHAMBER PRESENTED THE MARKET ANALYSIS REPORT TO VILLAGE BOARD
Representatives of the Cross Plains Area Chamber of Commerce presented an overview of the Market Analysis Study to the Village Board members at the Village Board meeting on Monday September 25, 2017. The Chamber will host public presentations to share the results of the Market Analysis with the community on October 18 at Rosemary Garfoot Library and November 1 at Crossroads Coffeehouse.
The purpose of the market analysis is to compile and interpret information useful in economic development efforts. This study focuses on the following:
• identifying retail, restaurant and service business market opportunities
• strengthening existing businesses
• attracting new businesses that meet the community needs
• improving resident and visitor experiences
• improving the physical environment
• developing community marketing & branding initiatives
According to Executive Director Amy Hansen, “The volunteer team that reviewed and interpreted data includes representatives from the Cross Plains Chamber, the Village of Cross Plains, UW Extension, and several local businesses. We have been working diligently for a year on this process. We are very appreciative of our volunteer study group and the many hours of work spent compiling and analyzing the data to determine our recommendations.”
A downtown market analysis is the process of documenting details about the downtown’s current condition, exploring changes occurring in the marketplace, verifying what consumers want from downtown, discovering what businesses the downtown market will support, and creating a downtown business development strategy.
Over the last 12 months, volunteers created an inventory of downtown businesses and buildings, surveyed consumers and business owners, wrote a downtown market profile, and weighed the supply of various business categories against the demand for those business categories.
Chamber President Casey Koenig shares, “With this detailed picture of the downtown’s economy, We can work to shape a business retention campaign that includes providing assistance and training to existing businesses and helping them expand. We plan to help shape a recruitment campaign to complement existing businesses and buildings downtown. Recruitment will target businesses that the community needs and that the market will support. With our market analysis in hand, Cross Plains will have a better chance of bringing business prospects downtown. Our hope is that the results of this study help Cross Plains to be a better place to live, work and play.”
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