Kentucky Main Street 2010 Trends Survey Results

Kentucky Main Street 2010 Trends Survey Results

KY #1 state responding to National Main Street 2010 Survey

34 KY Main Street Cities participated in this national trends survey.

70.6% of the KY cities participating had populations under 2,500

Majority of KY cities had 0-99 buildings and less than 50 businesses in their downtown

Who Participated in the Survey?

•KY Cities that responded 79.4% work for a Main Street non-profit and 20.6% are local government employees

•Current budget44.1% has budget less than $30,00020.6% has budget $30,000 - $59,00011.8% has budget $60,000 - $89,999

•How old is your revitalization organization 14.7% are programs 10 years old 11.8% are programs 20 years old11.8% are programs 15 years old 8.8% are programs 12 years old8.8% are programs 25 years old 8.8% are programs 4 years old

Is your Main Street Organization establishing a niche’ ?

33.3% KY Main Street cities are currently working to define a downtown niche 33.3% KY Main Street cities have plans to define a downtown niche 20% KY Main Street cities have an established downtown niche

Are you targeting a defined/focused segment of potential customers or products/services

KY Main Street efforts and successes in helping businesses in your downtown grow during 2010

65.5% KY Main Street cities increased their assistance in helping businesses improve, reposition, expand

34.5% KY Main Street cities maintained their same level of services helping downtown businesses

58.6% Ky Main Street cities increased their efforts to recruit new businesses downtown during 2010

2010 trends emerging among the entrepreneurs in your downtown

• 43.3% KY Main Streets have experienced increase in the # of Boomer entrepreneurs

•Only 26.7% KYMS cities have increased younger entrepreneurs (under 30)

•A whooping 53.3% of KY MS cities have increased female entrepreneurs

•Most impressive figure is 60% of entrepreneurs in KYMS cities are persons new to the community!

How has your community support for revitalization efforts changed in 2010 ?

33.3% KY Main Street cities noted increase in # of volunteers

40.7% KY Main Street cities noted increase # of participating businesses

44.4% KY Main Street cities noted increase in # of partners

33.3% KY Main Street cities noted increase in # of members

Old is the New Green

Here is a growing market opportunity

Entrepreneurs selling “green” products and services

Only 20% of KYMS cities noted an increase during 2010.

Entrepreneurs “greening” their products/services

Only 30% of KYMS cities noted an increase during 2010.

Housing Development Remains the Same in 2010

In KYMS cities noted the demand for downtown living 70% stayed the same 23.3% increased demand 3.3% decreased demand

In KYMS cities noted developer interest

73.3% stayed the same 16.7% increased demand 6.7% decreased demand

In KYMS cities code/ordinance barriers

86.7% stayed the same 10% barriers increased 3.3% barriers decreased

Downtown Real Estate Changes during 2010

What about KYMS cities commercial space rents

63.3% stayed the same

30% increased rents

0% decreased rents

What about business openings and closings

66.7% KYMS cities reported 1-4 business openings during 2010

60 % KYMS cities reported 1-4 business closing during 2010

How has the recession altered your scope of Main Street work

Scope has not changed, but implementation has been drastically altered Expanding our area of improvementLimited # of projects and expectations We do a lot more to help retain businessesChamber, MS, Industrial Foundation, Tourism is handled under the City

Please share an “out of the “ordinary” thing or your biggest successes relating to the 4 points

Organization •We take every opportunity to capture customer info and we conver•A newly formed partnership with Tourism •Strategic Planning and Five strategies that were established for 2011-2015•Bring more members to our program with new ideas, talents and hope for our future •Seeking more and larger businesses •Our membership has grown so much this year – 30 new members •Historical walk thru downtown•Membership has grown•Seeking larger and more