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 budget 44.1% has budget less than $30, % has budget $30,000 - $59, % 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 old 11.8% are programs 15 years old 8.8% are programs 12 years old 8.8% 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 % 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 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 % 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 improvement  Limited # of projects and expectations  We do a lot more to help retain businesses  Chamber, 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 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