Economic Development Futures Journal

Sunday, June 29, 2003

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Downtown Problems

Consider this a field report on downtown development.

The last three years have been very unkind to America's downtowns. I am currently visiting the Tampa/St. Petersburg, FL area for business and it is evident that 9/11, the follow-on threat of terrorism and now mostly the economic downturn have hit the downtowns of both cities very hard.

It's sad to see since so many wonderful redevelopment projects have been put in place struggle, but that is the current ecnomic reality. Hopefully both cities' downtown areas will find their way back as the economic skies continue to clear.

Yba City, the old cigar manufacturing district of Tampa, is a wonderful place with great restaurants, shops and sights to see, but obviously the economic downturn has caused many business closings in the area. These areas clearly have a 'carrying capacity' in terms of how much they can support. I would urge city officials to focus on more sustainable downtown and inner city revitalization strategies. Even with a healthy tourist trade, disposable income for retail is limited. A word to the wise.

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