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FEDC signs with The Retail Coach
HOUSTON -- Citing increased activity and interest in the area from the Eagle Ford shale oil and natural gas boom, the Floresville Economic Development Corp. (FEDC) is taking an aggressive approach to maintaining the commercial development momentum by continuing its partnership with The Retail Coach.
The FEDC board recently voted unanimously to approve a new contract with The Retail Coach, a national retail recruitment and development consulting firm that began working with the FEDC in 2008.
“The Eagle Ford shale oil and natural gas boom has sparked a high volume of development activity, with new hotels, stores, and restaurants locating in the area,” said Jesse M. Perez, FEDC executive director. “We want to keep the momentum going by updating our market intelligence and using the information to attract the right kind of businesses to our community.”
The Retail Coach will conduct a new Retail Trade Area Analysis, which determines where Floresville retailers and restaurants get their customers from on a daily basis. The last study estimated a Retail Trade Area population of 48,680 for Floresville, which has since increased.
The firm will also conduct a new Retail Gap/Opportunity Analysis to illuminate which of 52 retail categories in the Floresville community are exhibiting deficiencies or leakages.
“A leakage occurs when Floresville residents shop in surrounding communities, instead of their own hometown,” said Aaron Farmer, national project director of The Retail Coach. “With the strong pace of growth in the area, there has definitely been an increase in consumer demand that can be met by local retailers.”
Once The Retail Coach has completed the updated market analyses, the firm will work with the FEDC to develop customized strategies for attracting retailers and restaurants that will entice residents to shop and dine in their own community.
“In addition to recruiting new retail, we will look within the community for new entrepreneurs interested in opening a store or restaurant and help existing merchants expand their inventories to offer the products shoppers are leaving Floresville to buy,” said Farmer, whose firm was instrumental in convincing Walmart officials to expand the Floresville store to a Super Walmart.
The Retail Coach has helped economic development organizations, including the FEDC, local municipalities, and chambers of commerce expand retail in more than 150 Texas communities as well as cities throughout the United States during the past 12 years.
For information, contact Farmer at 662-231-0608 or firstname.lastname@example.org.
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