You no doubt have heard, or even asked, questions like this: “Why can’t we have an Applebee’s, Perkins, Arby’s, Taco Bell, Old Navy, Macy’s, JCPenney, Menards, or, you fill in the blank?”
Attracting popular retail stores and chain restaurants to a community is a subject that isn’t as simple as one would think. However, the key to attracting businesses to Huron and increasing economic growth begins with community support of our existing businesses.
“As the community and sales tax revenue continue to grow, it tells me that people are supporting the community. Population is up and revenue from sales tax has already increased by 8% this year,” said Jim Borszich, President/CEO of Greater Huron Development Corporation. “That clearly is what you must have to convince investors and other franchisees to take a good look at Huron as a community that can provide them a great return on their investment, and ultimately, a good reason to be here.”
According to Borszich, there are many factors that retail stores and restaurants use when choosing a community in which to locate. From population in the area served, referred to as trade area, location, sales tax dollars and general economic health of the community. Some business’ criteria are very specific. For example, Menard’s will not even consider a community with less than 50,000 people in the trade area, whereas, others want the community to be in close proximity to an interstate.
As individual citizens, we may not be able to do much about our population and location, however, each of us can have an impact on our sales tax revenues and vitality of our existing business community.
Borszich says it is also important to be realistic about what our community can support. “It would be difficult for us to support a Menards or Home Depot because we already have a Menards so close in Mitchell,” Borszich explained. “We have to be realistic about what is going to work in Huron because we are not a big enough community to support duplicate types of businesses. I do know, that if we don’t support our local businesses we are going to lose them.”
Every time we shop out of town or online, it gives an economic boost to another community; which then puts that community in a position to gain more retailers and restaurants that Huron residents desire.
“Without community support, we’re spinning our wheels. We need to have everybody out there who supports Huron promoting it and telling our story,” said Borszich. “It’s a wonderful place to live. We have outstanding educational opportunities and excellent healthcare. We have a lot of respectable retailers that have worked diligently to support our community and boost the economy. We need to continue to support them while looking for additional opportunities as well.”
Between now and August 7, Huron shoppers have an extra incentive to shop locally. The Be a Lucky Duck-Shop Huron & Win campaign of the Huron Chamber & Visitors Bureau gives shoppers a chance to win up to $25,000 by submitting receipts for goods and services purchased in Huron. The Huron Chamber & Visitors Bureau recognizes that there may be some things that cannot be found in Huron, however, there are many things that can certainly be purchased here.
Next week Borszich will share other ways Huron residents can impact the potential of major retailers or restaurants coming to Huron; including assistance with developing a quality workforce and reaching out to friends and family across the nation to tell Huron’s story.
For more information about Be a Lucky Duck, Shop Huron & Win, visit www.huronsd.com/shopandwin or call the Huron Chamber and Visitor’s Bureau at 352-0000.