EAST CLEVELAND, Ohio, Oct. 5, 2020 /PRNewswire/ — The East Cleveland Growth Association (ECGA) has completed its latest project to improve economic opportunity in the Northeast Ohio community of East Cleveland. For the past several months the non-profit organization has worked to complete a Community Retail Needs Analysis.
ECGA retrained the site selection and economic development firm of Goldstone Consulting Group to conduct the study. “The work that was done on our behalf included a survey of members of the community as well as visit to the community,” said Sean Ward, Chief Executive Officer and Founder of the East Cleveland Growth Association. “The report is the result of months of work looking at our community and the surrounding area.”
Analysis of the community shows that many of the residents of the community shop outside of East Cleveland to purchase many of the items they desire. “We have known this for some time that residents have difficulty purchasing the fresh meats, produce and deli items they want. This independent study confirms that belief,” said Ward.
According to the study, East Cleveland has a variety of retail categories that display a positive retail gap and opportunity for economic advancement. Motor Vehicle & Parts Dealers have the greatest positive retail gap amount at $22.7 million. Food & Beverage Stores and General Merchandise Stores also have large retail gap values at $16.2 million and $14.6 million respectively. These categories show the greatest opportunity for retail recapture in respect to overall dollar value.
The study went on to say, this highlights an opportunity for current or new businesses to not only recapture retail sales with local residents, but also to draw in the immediate neighboring communities
“There is a bright spot with this study,” said Ward. “We can show retailers that there is a market in East Cleveland.”
Plans are to use the data collected in the study to work with existing local retailers to improve their offering to the community. It will also be used to speak to companies not currently doing business in the city that East Cleveland holds opportunity.
Those interested in reviewing the full report can do so by visiting the website for the East Cleveland Growth Association at www.ecgrowth.org.
For more information contact:
Sean Ward 216-559-1889
SOURCE East Cleveland Growth Association