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« middle class values | Main | We can hope... »
Does keeping Austin weird keep it livable, as well?
May 30, 2003
A recent study commissioned by Book People and Waterloo Records to combat the development of a Borders in their neighborhood says that small, local businesses are better for local economy than larger chains:
The second study demonstrates that growth does not necessarily mean increased revenue--in fact, many types of development actually drain local economies. Tischler & Associates studied various types of residential and commercial developments in Barnstable, Mass. and compared the tax revenue they generated with the cost of providing additional required services. The findings? Big box retail, shopping centers, and fast-food restaurants cost taxpayers more than they produce.The biggest drain is fast-food restaurants with a net annual deficit of $5,168 per 1,000 square feet, with big box retail developments at a loss of $468 per 1,000 square feet, and shopping centers at $314 per 1,000 square feet.
Smaller specialty retail (not big box "category killers") was found to generate positive returns, returning $326 per 1,000 square feet to the community. Other
positive producers include business parks, offices, and hotels.So why the higher costs? The biggest expenses generated came from higher road maintenance costs and greater demand for public safety services. Citizens can use this information proactively to inform decisions by city council and planning board members, in informing their communities, and certainly in fighting big box or other unnecessary development. [source]
Of course, Book People and Waterloo have a vested interest in funding studies that support their existence over that of large chains. However, it's also true that the Borders development, which Borders has wisely Backed out of, was to be subsidized to the tune of 2.1 million dollars. While the association with the businesses involved calls the veracity of the report into question, it is important that we continue to question how businesses that are subsidized by public funds benefit the community at large.
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