In a recent government meeting, researchers presented significant findings from their ongoing project aimed at understanding business dynamics in Mount Pleasant. The discussions highlighted the importance of identifying where local businesses are losing customers and the implications for future economic growth.
The team emphasized that their initial research has raised more questions than answers, leading to plans for a second phase of the project. A key focus will be on \"leakage,\" which refers to the loss of business to neighboring areas. The researchers noted that understanding where residents are going for services is crucial for attracting new businesses to Mount Pleasant.
During the meeting, it was revealed that preliminary leakage reports indicated a concerning trend: Mount Pleasant is losing approximately 23,000 customers annually to Clare's downtown area. This data, while not included in the initial report, will be part of the comprehensive analysis in the upcoming phase. The researchers also acknowledged challenges in data collection, particularly due to the influence of Central Michigan University on local demographics, which complicates the analysis of customer movement.
The team expressed optimism about the potential of new software tools that could enhance future research efforts. They suggested that ongoing studies could be beneficial, potentially on an annual basis, to keep pace with evolving business landscapes.
As the meeting concluded, participants acknowledged the value of the insights gained thus far and the need for continued exploration of the factors driving customer migration. The final report, which will include foundational data and insights, is expected to be submitted shortly, paving the way for further analysis and strategic planning in Mount Pleasant's economic development efforts.