Elyria hires Retail Strategies to market city to retailers and restaurants; $150,000 over three years approved

The city will hire Retail Strategies under a three‑year consulting agreement at $50,000 per year (to be paid from the 2016 half‑percent income tax economic‑development professional services fund) to perform market analysis, a real‑estate assessment and business attraction/representation for retail and dining opportunities in Elyria.

Mayor and Economic Development staff said the company has worked with more than 800 communities and will deliver a six‑month market and real‑estate plan followed by two and a half years of active attraction and representation. Retail Strategies representatives described their data methods (mobile device mobility data, trade‑area analysis, psychographic profiles), boots‑on‑the‑ground property assessments and a marketing/representation program that leverages vendor and tenant relationships. Staff and company representatives noted Elyria’s retail leakage — staff cited an estimated $124 million in retail spending that flows outside the city — and said the work will focus on bringing back dining and shopping options and identifying highest‑and‑best uses for vacant and underused sites including mall‑area real estate and downtown nodes.

Council members asked about performance, examples, geographic focus and protections for local small businesses. Retail Strategies said their plan is built on data to match the right brands to the market and that their trade shows and industry relationships increase the prospects for retailer recruitment; the firm said typical deliverables include a 70‑page strategy/report, ongoing activity logs and quarterly progress updates.

The committee approved the three‑year contract by voice vote.

Why it matters: The contract is a targeted economic‑development investment intended to reduce retail leakage, attract grocers, restaurants and national retailers, and support reuse of vacant commercial real estate.