Retail, Downtown, and Target Industry Reports Released
Wednesday, June 13, 2018
Greater Hutch, the economic development division of the Hutchinson/Reno County Chamber of Commerce, is pleased to release the Retail Market Assessment, Downtown Assessment and Target Industry Analysis. In October 2017, Greater Hutch contracted with Catalyst Commercial, Inc. to conduct these comprehensive studies regarding retail and industrial data and strategies.
Catalyst conducted a customer intercept study using cell phone data to determine the primary trade area for the Hutchinson Market. The Retail Market Assessment reports that the primary trade area is over 85,000 people within an approximate radius of 21 miles around Hutchinson. This area has a purchasing power of over $1.1 billion and a current retail demand for over 300,000 square feet of additional retail.
“This document will provide us with a pitch book for local and national realtors to make informed business decisions on locating in Reno County,” said Debra Teufel, Chamber President & CEO. “In addition, a deeper dive into merchandising strategies in Downtown Hutchinson was evaluated to optimize on current and future opportunities.”
The Target Industry Analysis was determined by analysis of industry cluster data, local business interviews, and local, regional, and national economic research. From this analysis, the five target industries identified are advanced manufacturing, technology, healthcare, retail/tourism and entrepreneurship.
Funding for the three studies came in part from Hutch Rising investors of Greater Hutch as well as partnership funding for the retail study through Market Hutch.
“Though existing business retention and expansion will continue to be a key focus of our economic development program, the Target Industry Analysis will ensure that our business recruitment efforts are laser focused on businesses that are symbiotic with our current employers and skilled workforce, and the future vision of Reno County,” said Abby Stockebrand, Greater Hutch Economic Development Manager.
To view these reports CLICK HERE.