Garden City, KS Rightsizes Economic Incentive, Lands National Coffee Retailer
As a smaller, non-metropolitan market, Garden City, KS faced challenges in convincing large, national chains to open locations in the area. With a new development, there was an opportunity to attract a national coffee chain to open the first standalone location in 200 miles. However, without precedence to make the case, Garden City needed data to prove the opportunity to the tenant, as well as appropriately size the correct amount of economic incentive to offer so that the tenant would feel comfortable joining. The developer turned to Shannon Dick, City Commissioner and Director of Analytics, for help. How could Shannon accurately project sales and calculate the value of the CID tax?
191.7%
Traffic multiplier average for concepts in Garden City
1%
CID tax to help with development costs
200
miles from the next nearest store location
The Challenge
A new development in Garden City, KS wanted a leading national coffee chain as a standalone tenant. The developer needed to know the optimal economic incentive they could offer to attract them, and, lacking a pre-existing standalone location in town, needed to prove the strength of the area.
The Outcome
Using Placer, they analyzed similar concept’s performance, noting that concepts in Garden City averaged 192% higher foot traffic than the national average. Projecting sales with this data guided incentive discussions, helping them secure the first standalone location of this major coffee retailer in 200+ miles.
I always ask: ‘what does the Placer data say? Stop estimating and get the real data.’ With Placer, we make more informed decisions and realize economic impact faster, turning what would be a six-month commitment into a project with results in a week - or less!
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