An idea to fill vacant storefronts and create small businesses

[vicupstate]

I thought this idea was meritorious, out-of-the-box and could easily be replicated elsewhere.  If the $2 million spent for the LaVilla Restaurant that never opened, had been spent instead on this idea, it might have:

1) Gotten some store front buildings renovated throughout DT and/or Springfield
2) Spawned numerous small businesses in those same areas
3) If only ONE of the businesses had long-term (or even short-term) success, it would have created jobs
4) Even if every single business didn't make it long-term, the money wouldn't have been any more wasted than the never-opened LaVilla restaurant.   

The same thing could be said of numerous Downtown 'studies' that do nothing but collect dust and/or do more harm than good.

The city of Spartanburg SC is launching a competition for businesses to battle for rent subsidies and fill vacant storefronts on Main Street.

Starting in January, the Main Street Challenge will help three entrepreneurs open new businesses next year by providing a cash incentive of $12,000, or $1,000 each month for the first 12 months, to be used as rent assistance in a downtown location pre-identified by the city and participating property owners.

The winners must agree to sign a three-year lease for occupancy with the property owner, who will provide a street-level storefront space on Main Street.

Details on applying have not been released. After the Main Street Challenge launches in January, a competition committee will review applications throughout the spring, narrowing the entries to 12 semifinalists and then to six finalists. Semifinalists will present detailed business plans to the selection committee, of which three will be chosen winners.

The business plans must include a financial plan, a personal resume with two references and an application for a forgivable loan. Rents should be included in the financial planning to create a realistic budget, as well as for lending purposes.

Winners will be announced in May, followed by several months of tenant and landlord upfits before move-in and operations begin.

In addition to the $12,000 incentive provided by the city, additional incentives, such as marketing assistance and printing, will be provided to each winner by local businesses who have agreed to participate.

A Spartanburg Area Small Business Development Center representative will be available for free to assist with submissions. The city of Spartanburg Economic Development staff will assist in providing other resources that may be necessary during this initial phase of the program.

“We have certain businesses in our downtown that we could build upon, and hopefully we can attract businesses that can do business with the current ones in downtown,” said Patty Bock, Spartanburg’s economic development director.

Seven Main Street properties are available through the program, ranging from 1,100 to 2,400 square feet.

“Originally, we were going to offer only three spaces for the winners to choose from. But, due to the enthusiastic response from downtown property owners, we decided to offer up to seven stores in order that the winners could have some choice and flexibility in their choices,” said Ron Thomas, the city of Spartanburg’s project developer.

The business owner will be responsible for any rent above the $1,000 provided each month, as well as utilities and operating costs. The landlord will be responsible for providing a space that’s virtually move-in ready.

http://gsabusiness.com/news/46157-city-of-spartanburg-to-subsidize-downtown-rents?rss=0

[TPC]

Great idea but I think one of the main reasons there are a lot of empty store fonts is that the rent is not in line with reality. (Just my take away from what some have posted on this board)

[bill]

Great idea but I think one of the main reasons there are a lot of empty store fonts is that the rent is not in line with reality. (Just my take away from what some have posted on this board)

Or maybe it is because there are people in DT Spartanburg

[thelakelander]

This is an interesting concept. A new convention center will probably cost between $100-$200 million.  The new courthouse is over $350 million.  Taking $50 million and using it on a similar incentive program would probably be more beneficial and impact changing.

I just got back in from giving a friend a tour of the Riverside Brewing District, the Dennis Street Warehouse District, New Town, Brooklyn, and Durkeeville.  Even popped our heads inside of a few local businesses humming with activity this morning.  In some spots, I stopped in the middle of the street and rolled the windows down so he could here the sounds of manufacturing still alive in many buildings that sometimes appear to be vacant or tear down worthy.  We're sitting on a gold mine of history, talent, and opportunity.

If we truly backed local small business growth and the creativity of the average Jacksonville resident, downtown and half the neighborhoods surrounding it would turn around overnight.