Downtown Rockford
Symbolic Value of Downtown:
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Community economic health |
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Local quality of life |
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Local pride |
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Partnership between private and public sectors |
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Physical, historical and cultural heritage |
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Community identity |
Downtown is an important community symbol-- the traditional center of government, finance, commercial activity and civic life. But the value of downtown to the entire community is more than just symbolic. Everyone-- not just downtown business and property owners, but every segment of the community-- has a real stake in the economic health of the downtown. River District Map Downtown Property Owners Enjoy
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Increased occupancy rates |
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Stable or higher rents |
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Opportunity to turn undeveloped space into income-producing property |
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Greater return on initial property investment |
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Less risk of vandalism and fire |
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Improved municipal services |
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Improved marketability of property |
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Access to grants, loan programs and tax credits |
Downtown Professionals Reap Rewards From
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Location with improved, higher quality image |
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Location near government buildings and other institutions |
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Increased exposure to potential new clients |
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Opportunities for shared promotion |
Downtown Service Businesses Experience
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"Ready-made" customer base |
Businesses Outside the Downtown Enjoy
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Increased visitor traffic to the community |
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Increased business through an overall healthier economy |
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More dollars circulating longer from locally owned businesses |
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Improved municipal services throughout the community |
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Opportunity for cross promotion |
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Jobs created and additional business from local rehabilitation projects |
County Government Experiences
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Increased property tax base |
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Protection of property values |
Ripple Effect To Other Communities
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Healthier overall economy |
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Enhanced community and country pride |
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Improved job market and business opportunities |
Civic Organizations Enjoy
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Appropriate venue for civic projects
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Financial Institutions Benefit
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Expanded business customer base |
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More business from overall healthier economy |
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Potential customers from new residents attracted to community |
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Protection of property values |
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Improved public image and goodwill |
Utilities Receive
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Expanded customer base |
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Longer service hours and increased utility usage |
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Community stabilization and growth |
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Protection of prior infrastructure investment |
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More public improvements |
Economic Development Officials Can Promote
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Business/industry location decisions |
Preservationists Enjoy
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Increased awareness and credibility for commercial district preservation |
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Link between preservation and economic development |
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Increased educational and partnership opportunities |
Industries Experience
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Improved environment for employees
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Easier recruitment of key personnel
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Increased local availability of materials and services |
Schools Benefit
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More opportunities for youth involvement in civic projects |
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Potential for "downtown as a classroom" project
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Preservation of downtown neighborhoods |
Churches Receive
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New Membership potential
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Improved overall quality of life in the community |
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Opportunities for partnership
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Protection of property values |
Media Enjoy
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More opportunities for coverage of positive local news |
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Opportunities for public service
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Youth Experience
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Local employment and business opportunities
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More happening in the community, more places to go and things to do |
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Sense of "having roots" and "belonging" to a place |
Senior Citizens Enjoy
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Convenient location for goods and services |
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Safer, more secure environment
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Preservation of community history and personal memories
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Downtown Retail Merchants Enjoy
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Expanded customer base
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More sales
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Upgraded retail environment
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More opportunities for business growth and expansion
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More opportunities for locally owned, independent businesses |
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Less financial risk
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Incubator for new businesses
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Shared responsibility for retail success
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Residents of the Community
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Protection of property values |
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Overall economy
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Local accessibility to goods and services |
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Reduced loss of youth and "brain drain"
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More employment opportunities
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Increased opportunity for social interaction
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Preservation of civic gathering space for public functions |
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More opportunities for volunteerism
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Page last updated: 5/6/2013 11:09:08 AM