Tools and Statistics (Part II)

We recently talked about statistics indicating the success of the Main Street Approach and Main Street program, both nationally and in Maine. The cumulative positive results have earned a reputation as one of the most powerful economic development tools in the nation. We also talked about the general benefits of a local Main Street Program.
    Let’s break down these benefits into individual market segments.
Local residents can benefit by:
• Better shopping
• Closer shopping
• Less driving
• More social and cultural activities
• Better sense of hometown pride, community and identity
• Historical awareness
• Stable or improved home values
• A healthy local economy means property tax will not be raised
• More attractive community
• More activities for the kids
Retail business owners can benefit by:
• Increased sales
• An improved image
• Increased value of business
• Educational opportunities for the merchant
• Increased traffic; more people coming into the business district
• District marketing
• Better business mix/business recruitment
• Community pride
• A way to have needs and issues addressed
• Improvement in the quality of business life
Professionals can benefit by:
• Increased traffic; opportunity for combining business and shopping
• District marketing; the Center is marketed as a unit
• Better business mix/business recruitment
• Increased community pride
• A way or forum for having town center needs and issues addressed
• Improvement in the quality of business life
• Reductions in vandalism or other crime
• Assistance with tax credits for professionals who own their own buildings
• Assistance with design issues
• Better communication with other property owners
• Improved town Center image
• New and/or better uses for existing buildings for professionals who own their buildings
City Government can benefit by:
• Increased income to City through additional tax revenues
• Increased number of local jobs
• Improved local economy
• Positive perception outside the community of the town center
• Improved relations between and City and community at large
• Business recruitment
• Impetus for public improvements
Property owners can benefit by:
• Increased rates of occupancy
• Rents can be stabilized or increased (helps property values)
• Reductions in vandalism or other crime
• Assistance with tax credits
• Assistance with design issues
• Better communication with other property owners
• Improved town center image
• New and/or better uses for existing buildings
• Upper floors filled
• New retail uses
Large Corporations can benefit by:
• Increased economic and residential growth helps to spread tax burden over larger base
• Strong home values help property tax rates stay stable
• Positive perception of community is a draw for industry
• Good community image helps corporations’ local image
• An attractive community helps attract/keep employees
• Employees who live nearby miss fewer workdays due to weather
Financial Institutions can benefit by:
• Increased business deposits
• Increased potential for business loans and other bank services
• An improved image and good will
• Success of the community is crucial to banks’ success
Are you convinced yet?
Please write us with your thoughts and opinions. It’s your city and we want your input.  You can write us at: The Presque Isle Downtown Revitalization Committee, 411 Main St., Presque Isle, ME  04769, or you can email us at: pidrc@yahoo.com.
The Presque Isle Downtown Revitalization Committee is
an ad hoc committee of the Presque Isle City Council