Smyrna On-Call Economic Development Services

Market + Main’s work with the City of Smyrna began in early 2005. We were tasked to undertake a Targeted Market Analysis. This project identified who the customer is today in Smyrna, with a specific focus on the changes in the market since 2000. Smyrna has successfully attracted new residents and developed the initial node of retail and commercial services to meet their needs. They now have a critical mass to justify further development, but the aggregate numbers do not quite convey that reality just yet. The Targeted Market Demand Profile delivered updated aggregate data, as well as segmenting and more specifically defining the local market dynamics. The Targeted Market Gap Analysis identified the gaps, not just in production levels or total square footages, but also in consumer preferences, that will help to make the case about what kinds of development could, and should, be happening in Smyrna. Catalyst projects were identified in priority order; economic development policy recommendations were also made to help manage public funds to leverage private investment.

Shortly after the close of our work on the Targeted Market Analysis, Market + Main was then asked to bid on, and won an ongoing on-call services contract to address City of Smyrna’s evolving economic development, planning, design management, and code needs. Market + Main is the lead consultant on a multi-disciplinary team that includes economic, design, and zoning expertise. We have worked closely with City staff, as well as the City Council and the Downtown Development Authority. Areas of expertise and assistance include: fiscal and demographic impact analysis; parcel acquisition and targeting strategy development; commercial and economic vitality evaluation; redevelopment proposal evaluation and site plan review; business attraction strategy development; design guidelines and zoning; and strategic stakeholder involvement.

Market + Main’s primary role has been in development proposal review, recommendations from both market impact and design standpoints, and property owner development negotiation. Market + Main also produced the Economic Development element of the Community Assessment portion for the City’s Comprehensive Plan for Georgia Department of Community Affairs. Much of our work has concentrated on projects and deals within the established Tax Allocation District (TAD) that are serving to spur redevelopment; including participation in a video about TADs the City created as a public education outreach tool. More recent work has focused on Tax Allocation District (TAD) project evaluation, assessment of residential market changes impacts, and overview of pros and cons for potential large-scale public-private investment project.