Welcome 2015 Jaycees

Growing Beyond our Population Base

Business Recruitment

Alan MatthewsRocky Mount Area Chamber of CommerceIn partnership with City of Rocky Mount

UNIQUE TENANT RETAIL

• Super-regional trade area covers 19 counties in eastern North Carolina; most within 50 miles of site

• 2.5 million residents and almost 1 million households in 2016

• 1/3 of households earning over $75,000 in 2016

• Primary trade area is four-county “core” and secondary trade area is 15 surrounding counties

Demographic Category 2011 2016Population 2,313,621 2,508,677Households 898,487 976,491Average Household Income $64,013 $71,946Households $50,000+ Income 426,047 540,028Households $75,000+ Income 270,463 332,551Percent of Population Under Age 18 26% 24%Percent of Population Ages 18-34 24% 24%Percent of Population Ages 35-49 29% 27%Percent of Population Ages 55+ 21% 25%

Source: ESRI

Demographic Profile, Super-Regional Trade Area, 2011-2016

CHANGES INCONSUMER SPENDING HABITS

Impact on sales tax revenuefrom online purchases

What is happening in retail

IMPACT ON BRICKS & MORTAR

•Expect retail to move toward smaller footprint

•Expect more doors – more locations

•Expect Businesses to focus growth for future in two areas–Improved On Line –International sales

CHANGES FOR ON LINE BUSINESS

•LL Bean announces free shipping–Could this be the beginning of the end of shipping charges?

•Wal-Mart begins Home delivery in San Jose–Will home delivery in grocery go mainstream

•Best Buy is latest retailer to announce plans to reduce it’s square footage. –Could the day come when a retailer moves its entire business online?

BENEFITS FOR MID-SIZE MARKETS

•Retailers reducing their cost of business–Reduce employees

•Reduce liabilities associated

–Lower fixed cost–Smaller space – lower lease cost–Lower utilities

•Expansion into new Markets–Recruitment opportunities

Senate Bill Tax Fairness Act

• The US Senate has approved 69 to 27 with Bi-Partisan support

• Marketplace Fairness Act would allow states that currently charge sales taxes to require large online retailers to collect tax on purchases made by their residents. The law would only apply to online sellers that have sales of at least $1 million outside of states where they have physical operations, like a store or a warehouse.

Alan Matthews

Office of Business Recruitment

AREAS OF GREYFIELD DEVELOPMENT

Edgecombe Shopping CenterRedevelopment – 4 million dollar capital investment to community – 100 new jobs createdMuch needed services closer to residential communityBringing Grocery component

Apparel , general merchandiseOther retail uses