Downtown Economic Enhancement Strategy

Downtown Economic Summit

Retail Market Analysis

Retail Report

America Downtown®

America Downtown® Presentation

Indiana Downtown®

HyettPalma
703-683-5126
info@hyettpalma.com

Downtown Economic Enhancement Strategy

The Downtown Economic Enhancement Strategy is the signature service offered by HyettPalma. Through this service, HyettPalma works hand-in-hand with individual communities throughout the nation. Spending time in every community we serve, HyettPalma designs a realistic course of action for each Downtown — a course of action designed to ensure that Downtown reaches its full economic potential.

HyettPalma’s philosophy has always stressed taking a market-driven approach to the revitalization of our nation’s Downtowns. While Downtowns are many things, they are first and foremost economic engines that should:

• Provide goods and services that appeal to and attract local patrons and visitors;
  
  
• Generate revenue for businesses and investors;
  
  
• Create jobs for area residents; and
  
  
• Generate tax revenue for local governments.

HyettPalma believes we must ensure that our Downtowns prosper economically over time. Therefore, it is essential that each Downtown enhancement effort is focused on:

Understanding and strengthening
the economies
of these older commercial districts.

Every Downtown Economic Enhancement Strategy completed by HyettPalma is designed to do just that.

In completing each Downtown Economic Enhancement Strategy, HyettPalma uses a highly successful methodology that has been developed by the firm — and is owned exclusively by the firm. Pragmatic, community-oriented, and thorough, this methodology has been used to revitalize hundreds of Downtowns and neighborhood business districts throughout the United States — with tremendous results.

HyettPalma’s exclusive Downtown Economic Enhancement Strategy methodology includes:

• Defining a shared vision of Downtown’s future by engaging the community;
  
  
• Completing a market analysis specifying Downtown’s specific market potentials;
  
  
• Identifying specific economic niches that can be created and sustained in Downtown;
  
  
• Crafting a realistic, detailed, step-by-step course of action which creates the recommended niches and achieves the vision through focused economic development actions;
  
  
• Identifying an appropriate management entity to oversee implementation of the course of action in a timely, quality manner; and
  
  
• Designing an implementation schedule that programs actions to take, identifies who should be responsible for those actions, and examines possible sources of funds to finance actions.

Our approach results in Downtown revitalization strategies that are:

• Specifically and uniquely tailored to the needs of each Downtown served by HyettPalma;
  
  
• Based on a combination of what the community desires and what can thrive economically in each Downtown;
  
  
• Designed in partnership with the private and public sectors of each community;
  
  
• Driven by strategic actions that result in the long-term, economic health of each Downtown — rather than focussing solely on massive public improvement projects; and
  
  
• Realistic, pragmatic, and can be implemented within the constraints of local resources.

To obtain a full proposal for a Downtown Economic Enhancement Strategy completed by HyettPalma for your Downtown, please contact either Doyle Hyett or Dolores Palma by calling 703-683-5126.