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Economic Impact
Why revitalization of downtown commercial districts is important?
A healthy, viable downtown is crucial to the heritage, economic health and civic pride of the entire community for several reasons:
- A healthy downtown retains and creates jobs
- A healthy downtown also means a stronger tax base; long-term revitalization establishes capable businesses that use public services and provide tax revenues for the community
- A revitalized downtown increases the community’s options for goods and services whether for basic staples like clothing, food and professional services or for less traditional functions such as housing or entertainment.
- Finally, revitalized downtowns are a symbol of community caring and a high quality of life, factors that influence corporate decisions to locate to a community.
Since Downtown Statesville Development Corporations inception, the central business district has seen impressive growth in new businesses, new jobs and private reinvestment. See how we've grown:
Statistical Accomplishments |
FY 2010 / 2011 |
1982 - Present |
Facades Redone |
4 |
131 |
Building Renovation |
5 |
180 |
Net Job Gain |
16 |
796 |
Net Business Gain |
10 |
177 |
New Public Investment |
$119,680 |
$19,727,419 |
New Private Investment |
$274,000 |
$40,164,155 |
Total Investment |
$393,680 |
$59,891,574 |
Budget:
The annual operating budget for DSDC is approximately $151,000. DSDC has two full time staff positions. Funding comes from the following sources:
Municipal Service District Tax |
Approximately 64% |
City Appropriation |
Approximately 15% |
Miscellaneous (fundraising, events, etc) |
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