Pompano Beach Case Analysis Essay
I would define the market area in this case as a five mile range. In the case of Pompano Beach there are not many physical boundaries that impede progress. There should an increase in trade area because Pompano Beach is located near the I-95 the most famous highway in the country. There is also a secondary trade area with tourism during certain months will bring in additional 200,000 people to the area.
Demographics and Regional Economic Indicators, Market relevant information
Pompano Beach has a population of 99,845. The working population of 20 to 64 yrs old make up 59.7 % of the total population. Civilian employees over the age of 16 is about 44,000. The top industries by number are retail trade which has 624 establishment, Professional, technical trade 471, and wholesale trade 454. Household income for the most part make anywhere from $35,000-$75,000 annually(Factfinder, 2017).
The unemployment rate in Pompano Beach, Florida, is 4.70%, with job growth of 1.23%. Future job growth over the next ten years is predicted to be 37.76%. Pompano Beach, Florida Taxes Pompano Beach, Florida, sales tax rate is 6.00%. Income tax is 0.00%. It …show more content…
I will first address the retail aspect. According to CRA Plan there is a definite need for additional retail in the area. As of now a lot of Pompano Beach area near Atlantic Avenue and MLK Boulevard consist of auto shops and maybe a few older retail stores. There is a lot of space that have a blandness to visual aesthetics. What I mean by that is there are a lot of beige and white walls that would not appeal to pedestrian foot traffic. A retail shop maybe such as modern clothing would be a much needed and appreciated addition to the Innovation district. If you’re going to try to modernize you area, shopping, that adds to foot traffic, is a
Demographics and Regional Economic Indicators, Market relevant information
Pompano Beach has a population of 99,845. The working population of 20 to 64 yrs old make up 59.7 % of the total population. Civilian employees over the age of 16 is about 44,000. The top industries by number are retail trade which has 624 establishment, Professional, technical trade 471, and wholesale trade 454. Household income for the most part make anywhere from $35,000-$75,000 annually(Factfinder, 2017).
The unemployment rate in Pompano Beach, Florida, is 4.70%, with job growth of 1.23%. Future job growth over the next ten years is predicted to be 37.76%. Pompano Beach, Florida Taxes Pompano Beach, Florida, sales tax rate is 6.00%. Income tax is 0.00%. It …show more content…
I will first address the retail aspect. According to CRA Plan there is a definite need for additional retail in the area. As of now a lot of Pompano Beach area near Atlantic Avenue and MLK Boulevard consist of auto shops and maybe a few older retail stores. There is a lot of space that have a blandness to visual aesthetics. What I mean by that is there are a lot of beige and white walls that would not appeal to pedestrian foot traffic. A retail shop maybe such as modern clothing would be a much needed and appreciated addition to the Innovation district. If you’re going to try to modernize you area, shopping, that adds to foot traffic, is a