Texas-based firm picks four locations in Lynchburg that may play a role in economic development

Jim Trikur sets up tables outside of the Main Street Eatery in downtown Lynchburg. City officials will receive a detailed report on four sites in the area that reflect a good fit for retailers and restaurants to help boost economic development.

By: Bryan Gentry | Lynchburg News and Advance
Published: June 14, 2008

Economic development officials in Lynchburg have identified four sites in the city for a study of potential retail and restaurant locations.

A final retail report on the city’s retail — including a list of 15 retailers for whom the city would be a good match — will be delivered in about 60 days.

A Texas-based customer analysis firm called Buxton is studying the demographics of potential customers within driving distance of locations selected by the Lynchburg’s Office of Economic Development.

The sites include downtown, midtown, River Ridge mall, the planned location for Lakeside Centre at the corner of Lakeside Drive, and the Lynchburg Expressway.

Marjette Glass, director of economic development for the city, said, “We selected the areas where there has been redevelopment or development interest. We were also trying to cover as much of the City’s retail potential as possible.”

Buxton will provide a report on the trade area, showing the audience a store or restaurant could capture within a 12-minute drive, and some larger areas as well.

The city’s Industrial Development Authority directors voted in February to pay Buxton $55,000 to play matchmaker for the city.

At the time, members of the board of directors said the study would be important for keeping a strong retail sector in the city.

It could be helpful for attracting potential stores, or for helping existing ones expand.

Buxton specializes in matching companies to communities with the demographics that make the companies successful.

It uses a database of demographic data for the area —including customers’ income and shopping habits and available commercial sites — with information on over 4,000 chain stores and the demographics that tend to make them successful.

Buxton’s CommunityID service routinely examines three areas. However, it’s common to add another area, according to Courtney Hall, communications specialist for Buxton.

The research doesn’t involve any primary data collection, like phone calls. Instead, Buxton uses an existing database that is updated frequently.