A City With Vision
The City of Rochester, New Hampshire, is located in the southeastern portion of the state, just northwest of Portsmouth. With a population of nearly 30,000, Rochester is one of the largest and fastest-growing cities in the Granite State.
Rochester city leaders wanted to attract retail and commercial development in order to broaden the commercial property tax base and create jobs. They realized, however, that they needed rock solid proof that the city had both the population and infrastructure to support commercial development. In 2007, the city took a bold step and turned to Buxton for support in making the vision a reality.
Prove It
Buxton conducted a full analysis of Rochester’s retail sector, including psychographic analysis of how Rochester’s residents behave as shoppers. Based on this analysis, the company provided a list of retailers that have a high likelihood of success in Rochester. Using the tools and resources that Buxton provides, including its web-based SCOUT platform, the city was able to present a convincing case to potential retailers and provide support for existing local businesses.
T.J. Jean, mayor of Rochester, noted that “In this day and age, it’s all about analytics and having statistics on your community. Municipalities don’t always have that at their fingertips. But with Buxton and the SCOUT program, we’ve been able to turn that around and provide prospective clients with some really good analytical data to help them make their decision to locate in Rochester."
Award-Winning Results
Rochester’s investment in retail development has delivered rock solid results. In addition to retaining many existing businesses, the city has recruited more than 30 of the retailers or equivalent retailers on the list of those recommended by Buxton, including Kohl’s, Lowe’s, and Staples. Rochester Crossing now provides over 250,000 square feet of shopping and dining options, and a new 299,000 square foot development is nearing final approval. A recent economic impact analysis estimated that Rochester annually earns $91 for every $1 invested with Buxton at the beginning of the partnership.
Furthermore, the investment generated an estimated annual cash ROI of $2.7 million in 2013 alone. The city’s economic development efforts have been honored with multiple awards in the last year, highlighting their winning strategy.
Take Your Retail Development to the Next Level
Since 1994, Buxton has provided big answers for retailers and communities. Our insights go beyond broad regional demographics by drilling down to the household-level in order to give you the clearest picture of your community. We’ve helped 650 communities recruit over 35 million square feet of retail space.