Downtown Durango Market Assessment final report now available for review

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DURANGO, Colo. – The completed Downtown Market Assessment, commissioned by the Durango Business Improvement District (BID) in cooperation with the City of Durango, La Plata Economic Development Action Partnership (LEAD) and members of the private sector, is now available for review.

The complete 110-page study prepared by RRC Associates can be downloaded from the BID’s web site, www.downtowndurango.org. DVDs and a “loaner” hard copy of the report are available at the BID office, 1199 Main Ave., Suite 210. Bound hard copies of the report may also be ordered from the BID at cost for production, $20.

The Market Assessment, or Phase 1, included a downtown market analysis, identification of local economic trends and user groups, the segregation of local resident and tourist economic impacts, quantification of sales “leakage” and brand positioning. A total of 664 intercept surveys were conducted on Main and E. 2^nd Avenues between March 18 and October 14, 2008. In addition, 2,500 mail-back surveys were sent to La Plata County residents in October, with approximately 400 completed and returned.

With the Market Assessment complete, RRC has moved on to the second phase of the project, development of a Downtown Management Plan. The plan will be based on the findings from the market research and further interviews with stakeholders, and will ideally identify an organizational structure, financing plan and implementation plan with phasing and roles/responsibilities.

An outgrowth of the Downtown Vision and Strategic Plan adopted by City Council in 2006, the market assessment and management plan is intended as part of the effort to help sustain the economic vitality of the BID, which includes North Main in addition to the Historic Downtown.

For further information, or to order a bound copy of the report, contact the BID office, 970.375.5067.

 

The Durango Business Improvement District was formed in 1997 with a goal and mission to support businesses within the District by assisting with special event marketing, providing research on topics of concern to the District (facilities, special events, best practices), planning and development of new facilities, and providing capital budget for equipment that enhances business in the District. Funding is generated by a 1.5 mill levy on property owners within the district, with additional marketing dollars contributed by the City of Durango and Durango Area Tourism Office. BID Board members are John Wells, presiding officer; Bob Allen, Karen Barger, Rod Barker and Tim Wheeler.

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