WHY DOWNTOWN IS IMPORTANT…
A downtown is often a community’s most prominent employment center. Even in the smallest communities, downtown is often the largest employer.
A community’s downtown plays a significant role as a business center. It may even represent the largest concentration of businesses in the community. It also serves as an incubator for new businesses.
Most of the downtown businesses are independently owned. They support a local family, who supports the local schools, etc. Independent businesses keep profits in town.
Downtown reflects how a community sees itself—a critical factor in business retention and recruitment efforts. When larger companies consider a community a possible location, they examine many aspects, including the quality of life. Is downtown alive and viable, or does it represent local disinterest and failure?
Downtowns represent a significant portion of the community’s tax base. Property values will decrease if this district declines, increasing the tax burden on other parts of your community.
The business district is an indispensable shopping and service center. Though it may no longer hold its place as the community’s most dominant shopping center, it still includes unique shopping and service opportunities. Attorneys, physicians, accountants, insurance offices, and financial institutions are often downtown.
The downtown is a community's historic core. Many buildings are historically significant and help highlight the community’s history and development.
Downtown represents a vast amount of public and private investment. Imagine the costs of recreating a central business district's public infrastructure and buildings. Think of the waste of past dollars spent if downtown is neglected.
A business district is often a major tourist attraction. People travel to see unique places.
Downtown is usually a government center. It is most likely where the city or town hall, county courthouse, and post office are located. This “one-stop” shopping for government services is a notable feature of downtowns nationwide.
(Source: Modified from Indiana Main Street Guide and Handbook)