The Market for Commercial Development in Lansdowne
Executive Summary
This market analysis has been submitted to the Lansdowne Economic Development Corporation (LEDC) to address several issues that must be answered in order for the Corporation to move toward its goal of spearheading economic revitalization throughout the Borough. The key issues that this study was designed to address include:
- Lansdowne’s competitive position in relation to other commercial areas with which it competes;
- The appropriate types of goods and services that should be represented in the Borough;
- Other types of commercial enterprises with the potential to fare well in the Borough;
- Strategies that the Corporation can use to bring about revitalization in its community.
In addition, the Corporation may use the market study as part of an application to the Pennsylvania Department of Community and Economic Development (DCED) for funding under the New Communities/Main Street Program.
The work program that S. Huffman Associates used in conducting this market study involved the use of secondary data to the greatest extent possible. The primary and secondary trade areas were first defined with the help of Board members of the LEDC and consideration of the major access routes into the community. Also taken into consideration were the locations of competing retail facilities in the primary and secondary market areas. Calculations were made of the retail expenditures of Lansdowne residents and residents of its surrounding communities, through the use of year 2000 Census data and data from Claritas, Inc. These calculations were then compared to expenditures within the Borough to estimate the retail dollars that leave the community and that might be attracted into it from its immediate neighbors. The LEDC conducted consumer surveys to elicit responses from residents on where they buy various types of goods, and why they do not buy more in Lansdowne. Perceptions of maintenance, security, and availability of parking were elicited, so that community attitudes and input were taken into account. A limited survey of businesses was also undertaken by the LEDC. Following is a summary of the market study