Tracking Retail Closures

At Fourth Economy we have been tracking the news about retail store closures.  These store closures often can leave significant redevelopment challenges for local community and economic development officials. In future posts we will highlights some of the ways that communities are dealing with these buildings. According to Business Insider more than 5,000 store closures have been announced so far, with the potential for nearly 9,000 store closures by the end of 2017. These store closings are the most physical manifestation of the challenges facing the retail sector.

As a resource to the community, Fourth Economy has started to identify and compile a list of retail store closings. Tracking down the locations has proven to be a challenge, but we have identified 1,768 of these closings so far.  You can see the results in the above Working Map of Retail Closings, created in Tableau Public.  We are providing this as a resource to the community and will continue to update it as closings are announced and locations identified.  If you know of any closings in your area, please send them to engage@fourtheconomy.com and we will update the map.

Stay tuned for more.

Co-authors: Jamie Reese & Katie Grauer

New Economics of Land Use

A great American poet once said, “For the times they are a-changing.”  That is especially true today in our economy. Underneath the radar of the rhetoric and public spotlight, the changes in the economy are generating a ripple effect for how industries and people use land.  Land use is not a topic that is top of mind for most people, but a few local governments are waking up to the reality that a number of forces are beginning to change the need for land, and ultimately its value.  Local governments care deeply about land use, or they should, because the value of land translates into the property tax revenues they need to maintain the community. Continue reading “New Economics of Land Use”

The Challenge of Creating Actionable Plans

Burket-Blog-Web-05-2016As part of our work in our hometown of Pittsburgh, we have been digging into all of the plans that have been created over the past five years or so. So far, we’ve found around two-dozen plans, reports, or studies on all manner of community, workforce, and economic development topics. Of those, about five have well-articulated goals, actions, responsible parties, though the form and detail of those components varies from plan to plan. And even with detailed actions, the degree to which those plans are being implemented varies a great deal. Our experience in Pittsburgh is not unique – we see the same trend in the other places that we work. So why is it, that despite our best wishes and intentions, it is so hard to create actionable plans? Continue reading “The Challenge of Creating Actionable Plans”

Regional quality of place and the fight against blight

BlightBy now, the costs of blight and vacancy are well-documented in terms of unpaid local and school taxes, drained municipal resources, further disinvestment, and/or declining adjacent property values.  We have also seen in from our clients the key role that quality of place plays in retaining and attracting talent – a key driver for economic success.  No matter the size, competitive communities create places where people want to live and work, and blight can be a major blow in that endeavor.  Continue reading “Regional quality of place and the fight against blight”

Inspire Yes, But Act As Well

Coffee-Shop-1099Tis the season for annual conferences – that chance each year for trade groups to tout their accomplishments and relevancy. The Fourth Economy team attended our fair share. What we find scary is that while the workshops and keynotes are conveying the seismic changes occurring in our economy, change on the street, in our communities and programs, appear to keep on keeping on as if it were, oh say, 1999. Many of the metrics for growth we heard remain focused on absolute land development, job creation (regardless of type and cost) and more office space.   Continue reading “Inspire Yes, But Act As Well”

What? Me Worry?

What-Me-WorryWhen people are looking for a safe place to live, they overestimate the danger from low-risk threats such as crime.  No one would say that they want to live in a high crime area.  The reality is that nationwide there are only 5.1 deaths per 100,000 people from homicide. Crime is highly distorted because the reporting of crime rises in areas with more people and therefore more full-time police officers.  Perceptions and fear about crime are always much worse than the actual frequency and risk of crime.  Continue reading “What? Me Worry?”

Survey: Environmental Factors and Site Selection

Air-Quality-SurveyWe are asking corporate real estate managers, location consultants and economic developers to identify how air quality affects location decisions.

 

[maxbutton id=”34″]

 

 

[maxbutton id=”35″]

 

As an incentive, all respondents completing this short survey will have an opportunity to win a $200 prepaid Visa card. All respondents will also have access to the final results.

We appreciate you taking 10-15 minutes to complete the survey by Monday, October 17, 2015. Results will be used in summary form only in order to protect confidentiality. Continue reading “Survey: Environmental Factors and Site Selection”

Business Improvement Districts – Not Just for Big City Downtowns

Business-Improvement-DistrictsBy Dave Feehan
President, Civitas Consultants LLC

Since 1990, Business Improvement Districts or BIDs, as they are commonly known, have become the most effective and accepted method for funding downtown and business district organizations.

For many decades, merchant associations and voluntary downtown councils played the role of business district manager and advocate; but the decline in downtown retail, the shift to national chain stores, and the acquisition of local headquarter firms by national and international conglomerates made these downtown management models difficult to sustain. Continue reading “Business Improvement Districts – Not Just for Big City Downtowns”

Balancing Energy, Air Quality, and a Sense of Place in Pittsburgh

Air-QualityOn Monday June 29, 2015 the United States Supreme Court brought air quality into the limelight when it ruled that the Environmental Protection Agency failed to fully consider the cost to energy producers of limiting air emissions.  While the need to balance the costs of regulation against the intended social benefit is nothing new, the highest court of law held the EPA to that standard just months after the Urban Land Institute reported in America in 2015 that quality of environment (including air and water quality) is the top community attribute priority for people choosing a place to live in 2015. Continue reading “Balancing Energy, Air Quality, and a Sense of Place in Pittsburgh”

How Bikes Build Communities

Bike-InfrastructureIf you build it…

These days it seems that new bicycle infrastructure appears every few months in Pittsburgh (a.k.a. Fourth Economy’s home) such as new signage, new bike lanes, and a brand new bike share program. In 2014, Pittsburgh was selected as a PeopleForBikes Green Lane Project city, and Mayor Peduto has called for a multi-modal approach to building out infrastructure. The City even has a 10-year plan to create a network of bike lanes through city neighborhoods. As a cycling commuter, I enjoy Pittsburgh’s 25 miles of off-street bike trails, and am excited about increased infrastructure for bicycles along city roads.

With limited budgets and a never-ending list of capital projects in the City, many Pittsburgh residents wonder whether these investments are worthwhile. Will all this bicycle infrastructure actually impact ridership and help the community? Continue reading “How Bikes Build Communities”