City economic development staff outline market analysis, prioritize three strategic focus areas

City economic development staff on Thursday summarized a year‑long market analysis and presented a draft departmental strategic approach focused on business retention and expansion, place branding and disaster resiliency.

Wayne Appleby, economic development and real estate manager, told the Downtown Improvement District advisory board that the office undertook a market analysis in 2024 with an outside consultant and used the results to guide a smaller set of priorities the office can realistically lead. “We took 2024 and we're here a little bit late because we took all of 2024 really to do a market analysis,” Appleby said.

Rochelle Golland, business relations coordinator, said the consultant assessed land availability, the labor market, capital investment and regulatory factors across four business districts (North, Central, East and South) and engaged stakeholders with public workshops and an online survey. The presentation included central‑business‑area figures — roughly 17,500 residents and about 3,800 businesses — and noted a local median home value the presentation listed at about $940,000.

Staff described three initial priorities they plan to pursue given current staffing and funding constraints: (1) business retention and expansion (including targeted outreach and support for retailers and restaurants); (2) branding and marketing to better position Sarasota beyond retirement‑age stereotypes and to promote district identities; and (3) disaster recovery and resiliency efforts that would leverage local assets and formalize communications and business support after storms.

Appleby said the economic development office also manages city real estate — roughly 276 properties and 35 leases — and that nearly 100% of the office’s current operating funds are dedicated to the Bay Runner trolley, limiting capacity for new programs without new funding sources.

Board members asked about practical services for potential business relocations; Appleby said the office regularly assists prospective business owners, partnering with regional and state partners for industry‑specific support. Members also returned to stormwater concerns and the county’s role; staff said stormwater responsibility rests with the county, and the economic development office’s role is to advocate to county partners while coordinating with city leadership.

Staff said they will vet the proposed priorities with city leadership and commissioners and return with an implementation plan and partner coordination for items outside the office’s direct capacity.