Study Shows Significant Retail Potential for Downtown Jackson
The Anchor Initiative announces the release of the Downtown Jackson Retail Market Study. The study shows the Downtown Jackson area has significant potential as a major shopping and entertainment district in the next few years.
Gibbs Planning Group, Inc. has been retained by the Jackson Anchor Initiative to conduct a retail feasibility analysis as the first step in a comprehensive investigation of how to stimulate retail growth in downtown Jackson.
This study finds that the downtown Jackson primary trade area can presently support up to 108,400 additional square feet of retail and restaurant development, generating almost $31.9 million in new sales.
Successful communities start with a plan. The Anchor Initiative is working to bring together partners, stakeholders and residents to work together so that everyone’s efforts are towards common goals and a defined direction.
“This plan enables us to take additional steps towards enhancing economic development efforts throughout Jackson. The financial assets gained by developing our downtown will continue to support the valuable infrastructure and economic projects necessary to revitalize our city” says City Manager Patrick Burtch.
Essential to achieving this objective is a cohesive and tactical downtown Retail Action Plan that recognizes the changes in our urban core, as well as dynamic trends in the retail industry. To that end, we have conducted this retail feasibility analysis that responds to these developments and provides for sustained growth. In developing this approach, it is our intent to establish a blueprint for a vibrant retail market that meets the needs of downtown residents and serves as a tool of attraction for visitors and guests.