Local Reinvestment Focus
Main Street Programs are all about local reinvestment. According to the National Trust Main Street Center’s 2010 reinvestment Statistics, local Main Street programs have generated nearly $50 billion of private and public reinvestment since 1980.
During that same time period, these same Main Street efforts resulted a net gain of over 94,000 full-time jobs nationally.
Victoria Main Street Program has generated over $28 million of private and public reinvestment since 2011, with 112 business starts/expansions/locations, and home to over 138 active businesses.
Effective Programs
Main Street programs are effective.
The National Trust Main Street Center’s 2010 Reinvestment Statistics report for each $1 spent to operate a local Main Street Program, $27 is reinvested in the local community.
This 27:1 reinvestment ratio really is successful economic development.
Local Government Revenue Generation
Main Street program successes generates revenues for local governments.
By focusing on business expansion, entrepreneurial growth, and improving the district’s property values through reinvestment, Main Street work helps generate additional real estate taxes, sales taxes, and regulatory fee income valuable to local government revenues.
Improve Local Image
Main Street programs work to improve the local image.
Supporting business growth in the Main Street district changes local and regional perceptions about the district and the community, not to mention what outsiders will observe.
Business growth and physical improvements translate into a better image for the local community that, in turn, enhances broader economic development opportunities.
Build Local Capacity
Main Street programs build local capacity over time.
Funding from local governments usually helps to get the Main Street started.
Annual contributions to the local Main Street program continue and enhance collaborative work to improve and strengthen the Main Street district and the local economy.