MONTROSE – The Montrose Downtown Development Authority has begun work on a market analysis of the current condition of downtown.
The analysis will explore changes in the marketplace, by ascertaining what consumers want from downtown, discovering what businesses the downtown market will support and creating a downtown business development strategy.
"Many communities hire professional consultants for a substantial fee in order to have access to this important tool used by businesses, property owners, developers, bankers and investors for making better-informed decisions,” according to a DDA news release. “The Montrose DDA will start completing the downtown market analysis by assembling a team of volunteers who have an interest in the success of downtown and some level of business experience.”
In the coming months the Montrose community will see downtown business development volunteers inventorying downtown businesses and buildings, surveying business owners, and weighing the supply of various business categories against the demand for those business categories to create a downtown market profile.
"Once they have a detailed picture of the downtown’s economy, the Montrose DDA, along with other community partners such as the City of Montrose, Region 10, and the Montrose Chamber of Commerce, will shape a business retention campaign that includes providing assistance, training, and expansion resources to existing businesses. Building on this retention strategy, they will shape a recruitment campaign to complement existing businesses and properties downtown. With a market analysis in hand, the Montrose DDA will have a better chance of attracting business prospects to the downtown district," the release said.
To volunteer, contact DDA Executive Director Scott Shine at 970/901-9667 or email@example.com. A volunteer training takes place at The Coffee Trader, at 845 E. Main Street, Thursday, May 30, at 5:30 p.m.