Expansion Solutions Magazine article from Summer 2011 about Rochester's preparation and investment in a successful retail attraction and expansion strategy.

1. Community Success
Why is Rochester HOT for Retail?
I
Job Growth sis firm. Buxton provided analysis of the operations to their Springfield, MA
ndustrial success has everything market area consumer buying and media facility. All of this activity will benefit
to do with retail. Rochester has habits, in addition to a list of retailers from New Hampshire DOT’s Spaulding
eight industrial parks supporting matching the marketplace and seeking Turnpike construction, which will double
long-term growth opportunities New Hampshire locations. Estimates for traffic capacity in the next two years. All
in target sectors. The city has been in the consumer demand exceed $2.6 Billion. six city exits and ramps will be improved
news as the New Hampshire center for This matchmaking provides the city with along with the related local roads in the
advanced manufacturing and cutting-edge likely targets for Downtown and Highway commercial zone.
composite materials, bringing with it hun- commercial locations.
dreds of new high-tech jobs. Corporate Rochester Supports Commercial
expansions are on the rise and Albany Accelerating Retail Growth Expansion
International recently announced the Rochester’s retail efforts have filled in The city has created the Granite Ridge
relocation of their corporate headquarters multiple commercial districts including, Development District, Rochester’s largest
from Albany, NY to Rochester, NH. What the 2008 Rochester Crossing, by The dedicated commercial and hospitality dis-
does industrial success have to do with trict. Tax Increment Financing
retail? Everything. Especially when you (TIF) will support public infra-
ask the major employers structure improvements. The
about amenities like host- District’s 675 acres border the
ing business meetings, Spaulding Turnpike and include
shopping, entertainment the central corridor between the
and dining options. Seacoast and the Lakes Region
of New Hampshire, serving the
Desirable Community southern part of the state and
Rochester has all the Maine residents, as well as visi-
amenities of your typical tors traveling between tourist
New England city. It has destinations. A 90-acre parcel
a historic Downtown with has been excavated in prepa-
an iconic gazebo, friendly ration for a proposed 265,000
residents and a legacy of sq. ft. retail center. Additional
textile manufacturing. development sites connect to
Rochester’s historic City the new center, including the
Hall does double-duty as 225,000 sq. ft. Super Wal-Mart,
the Rochester Opera House, anchoring the retailers already
an active performing arts located in the District.
center. The city boasts an
impressive expansion of Opportunities Abound
the Spaulding Turnpike, With all of this growth does
investing $135 Million, Rochester have the demand
and now has hundreds of for more commercial expansion? Yes!
acres zoned for retail and Wilder Company. The 300,000 sq. ft. The latest evaluation shows continuing
hospitality development. development is at 95% occupancy and leakage in key categories and points out
brought Lowe’s, Kohl’s and other retail opportunities for an additional 1 million
Population Growth & Unmet superstars to the region. The Kane sq. ft. to serve the expanding residential
Consumer Demand Company is marketing the remaining 17 and business community.
The community’s climbing population acres available near the Turnpike Exit Rochester is a HOT retail destination.
(4.5% in the 2010 Census) has outpaced 13 after New Hampshire DOT presented It is a progressive community with the
retail growth. Rochester’s market area as plans for a Park & Ride. Nearby right attributes and is eager for amenities
a regional hub of commercial develop- construction is beginning on a CVS and to balance their residential and industrial
ment has blossomed to more than 210,000 Laconia Savings Bank near Home Depot, success. You need to visit this gem in the
people with an average income of $71,655. Hannaford and several quick service Seacoast of New Hampshire!
Leakage has continued to be a substan- restaurants. Additional redevelopment Karen Pollard, CEcD, EDP is the
tial concern for business retention and opportunities are available in and near the Economic Development Manager for the
attraction. To develop a retail enhance- Globe Plaza, anchored by Planet Fitness City of Rochester, New Hampshire and
ment strategy that addresses this con- and Family Dollar. The 13-acre Smith & is one of the New Hampshire Business
cern, the city authorized a comprehensive Wesson retail and manufacturing campus R e v i e w ’s “ O u t s t a n d i n g Wo m e n i n
retail analysis by the Buxton Company, will be available for retail redevelopment Business,” for 2011. C
a nationally recognized consumer analy- during the next year, as they consolidate
www.ExpansionSolutionsMagazine.com 85