Anderson Economic Group completed a market snapshot for the Main Street Newnan organization in Georgia, located southwest of Atlanta. The purpose of providing Newnan Main Street with the market snapshot was to help bolster the organization’s plans for attracting and recruiting business, and to uncover potential strengths and opportunities in the downtown.
We worked with Main Street Newnan to determine the downtown’s center of market activity and its likely primary and secondary market areas in terms of drive-time distances. We next used our Geographic Information System (GIS) to plot the location and delineate the drive-time boundaries on a map. To provide a visual display of key data in the community, we customized maps to display the current year per capita income and population density, and projected percent population change, all at the block group level.
The primary and secondary market areas and the county were further analyzed to provide a detailed understanding of Newnan’s demographic and socioeconomic make-up for the current year and projected trends over the following five years. Relevant categories, including age, income, households, education attainment, and consumer expenditures were detailed in a table and summarized in a narrative to explain the trends and key points.
The market snapshot product is being used by Newnan Main Street in their business and other attraction efforts.