HomeMy WebLinkAbout2014-12-09 PACKET 04.B.01.City of Cottage Grove
TO: Economic Development Authority Members
FROM: Danette Parr, Economic Development Director
DATE: December 3, 2014
RE: Update of Cottage Grove Market Study
In September of 2009 the City hired McComb Group to conduct a market study (summary of
the 2009 study is attached and titled: Cottage Grove Demographic Characteristics and Retail
Sales Potential). The market study focused on the potential of the City’s commercial nodes at
that time.
In acknowledgment of the changes that have taken place in the economy since 2009, staff has
asked the McComb Group to submit a proposal for the EDA’s consideration related to the
current commercial market in Cottage Grove. The proposed market study would cover the
following objectives:
Delineating Cottage Grove’s trade area, evaluating its demographic characteristics, and
estimating sales potential by store type.
Evaluating Cottage Grove’s retail areas and identifying its retail tenants.
Evaluating Cottage Grove’s historic retail sales, estimating market share, and
identifying sales potential for retail stores, restaurants, and services to identify stores
that could be successful in the Gateway North shopping area.
Conducting a voids analysis to identify store categories that are under-represented or
not located in Cottage Grove.
Identifying retail, restaurant, and service uses with sufficient sales potential to be
successful in Cottage Grove’s shopping areas and compare desired store size with
available vacant space or vacant retail land.
If necessary, present recommendations on steps needed to create store sizes desired
by potential tenants.
The attached proposal contains a work program and budget. It’s anticipated that the market
study would be at an expense of $13,910.
Action
Please provide direction to staff indicating if the EDA would like to have the 2009 market study
updated and if the proposal focus should be amended in any way.