Study Says Facade Improvement Programs Produce Real Economic Benefits

Study Says Facade Improvement Programs Produce Real Economic Benefits

ROCK SPRINGS – Increases in new customers, rental incomes, and property values were seen in a recent study of the impact of facade improvement programs.

To help downtown professionals better determine the ROI of these types of improvements, a team at the University of Wisconsin-Extension examined the impacts of storefront improvements over the past 15 years.

“The intent is to help business and community leaders make more informed investment decisions,” say authors Bill Ryan, Amy Greil, Dayna Sarver, Joe Lawniczak, and Errin Welty.

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Overall, the report, An Analysis of Downtown Storefront Improvements, is favorable. Among the findings:

• Business operators generally experience an increase in the number of first-time customers.
• Many, but not all, business operators experience an increase in sales.
• Property owners generally generate increased rental revenues.
• Properties are often converted to a perceived better use.
• Nearby businesses often enjoy increased sales and initiate their own storefront improvements.

>>>>>As a reminder, the Rock Springs Main Street has set aside $30,000 to help Downtown businesses improve facades in 2015. Grant applications are due on May 1. For more information, visit our website or call 352-1434,