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Report On Market Analysis and Retail Assessment of Springfield Released

By on Feb 27 2013.
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Springfield Business Improvement District

Springfield Business Improvement District

On Tuesday, February 26, 2013, the Township of Springfield announced that the Springfield Business Improvement District released the Community Insights™ Market Analysis and Retail Assessment report they commissioned JGSC Group, LLC. to prepare.  A copy of the report was posted as a 171 page PDF file on the Township website.

In 2011, the Springfield Business Improvement District hired JGSC Group, LLC. of Merchantville, New Jersey to conduct a market analysis and retail assessment that focused on three areas:  the physical environment, consumer preferences and perceptions and economic conditions and potential.  The research spanned nearly six months last year and included visual observations, reviews of ordinances, redevelopment plans and zoning, interviews with stakeholders and merchants and regional economic analysis.  In February 2012, JGSC launched a community-wide consumer survey.  Over 900 surveys were completed and the data was used to assist with the preparation of the report.  On January 14, 2013, after a two month delay as a result of Hurricane Sandy, the Springfield Business Improvement District invited the public to the Springfield Firehouse to hear the results of the survey and a preview of the report.  The final report released this week is the culmination of their work and concluded with several strategic recommendations intended to revitalize local commerce.

The creation of the Springfield Business Improvement District began in August 2010.  The “business improvement district” designation is often used to enhance downtown districts.  These districts are funded through an additional tax placed on commercial properties within specified boundaries.  The Springfield Business Improvement District incorporated as the Springfield Community Partnership Management Corporation and includes over 230 commercial properties.  The Springfield BID is governed by an eleven member volunteer Board of Directors co-chaired by Mike Scalera of State Farm and Scott Seidel of Cardinal Properties.  Thus far, Springfield Community Partnership Management Corporation has engaged residents, business owners, and consumers in a variety of ways through social media, internet, direct mailings and advertisements.  They have actively promoted the local business community with the implementation of street banners, coupons and several promotional contests.

On February 11, 2013, the Springfield BID presented their 2013 budget in the amount of $531,392.07  to the Township Committee. The final hearing and vote on the 2013 budget is scheduled for March 12, 2013 at 7:30 p.m. at the Springfield Municipal Building.



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