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Over the previous six years, 11 regional and nationwide retailers have moved to Albemarle, leading to greater than 200 new jobs and slightly below $27 million in whole funding in keeping with an financial improvement report offered to Metropolis Council just lately by the Financial Growth Director Keith Tunnell.
The inflow in new enterprise is because of a partnership between town and Retail Methods, an Alabama-based advertising retail agency that works with cities throughout the nation to assist appeal to new companies. ElectriCities is town’s associate within the contract with Retail Methods, which prices $25,000 a 12 months and commenced in 2014.
“I’ve spent quite a lot of time with them over the previous six to eight weeks since I’ve been right here and I’ve been fairly impressed,” Tunnell advised the council, referring to representatives from Retail Methods.
After remaining steady for a few years, gross sales tax income has elevated by greater than 43 p.c from 2014 to this 12 months, Tunnell stated, and the retail companies have additionally elevated revenues for town’s electrical, water and sewer operations.
Right here is listing of the companies that Retail Methods helped recruit to Albemarle, together with the typical annual gross sales quantity and what number of jobs have been created:
- Dickey’s BBQ ($605,000) has created 10 jobs;
- East Coast Wings and Grill ($1.5 million) has created 20 jobs;
- Farmer’s Furnishings ($2.Four million) has created 5 jobs;
- Freeway 55 Burgers, Shakes and Fries ($1 million) has created 20 jobs;
- Ollie’s Cut price Outlet ($4.33 million) has created 30 jobs;
- PetSmart ($5.022 million) has created 29 jobs;
- Chick-fil-A ($2.09 million) has created 36 jobs;
- Verizon ($Three million) has created 10 jobs;
- Rose’s Specific ($3.5 million) has created 25 jobs;
- Harbor Freight ($Three million) has created 15 jobs;
- Planet Health ($550,000) has created 10 jobs.
Retail Methods has targeted on attracting new companies to town’s most important retail corridors, which embrace N.C. Freeway 24-27, U.S. Freeway 52 and downtown. Town’s financial improvement division has already reached out to a number of downtown tenants and several other new companies are tentatively set to find to Albemarle within the close to future, although nothing is about in stone.
Whereas he acknowledged that retail improvement is just one a part of town’s financial improvement program, Metropolis Supervisor Michael Ferris stated the companies be certain that “cash is spent domestically by stopping leakage to different communities.”
“A powerful retail sector additionally results in higher buying facilities, jobs and elevated property and gross sales tax revenues,” Ferris added.
Retail Methods is engaged on bringing 4 potential retailers to town: nationwide espresso and mobile phone retailers, a dental consumer and a regional breakfast consumer. If the companies come to town, an estimated 64 jobs might be created together with greater than $3.6 million in whole funding.
Albemarle’s financial improvement group can also be working to draw new companies impartial of the agency. These embrace a nationwide grocery retailer chain, a nationwide quick meals chain and a automotive dealership.
Tunnell stated Retail Methods expects the 4 new retailers to formally announce their strikes to Albemarle someday in early 2021.
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