City notes: Survey has valuable information
Statistics show what the people who live here already know: Rosemount has been one of the fastest growing communities in our state. Projections say our population may nearly double again by 2040. We work to put that growth to our advantage in ways that attempt to preserve our small-town feel and quality of life.
It’s also important to work toward a balance in the kinds of growth. After a pause during the great recession, residential growth has rebounded. And industrial growth has also picked up as companies look to meet increased demand for their products.
That leaves commercial growth: the retailers who seek to serve our residents and draw visitors to Rosemount. Giving more shopping options provides attractive amenities for residents.
The city has taken an important initiative to help our existing retailers and draw more to fill in the gaps. Earlier this year, the Rosemount Port Authority hired a research firm, Buxton, to take a close look at our strengths and help promote them to the attention of the decision makers in retailing.
Their data can attract new national retailers who may not understand our market. The same data can be useful to existing businesses that want to meet the needs of our residents and attract customers from neighboring communities.
The report uses anonymous data from surveys and financial records to build a profile of the people who live within a 12-minute drive of identified retailing locations. The research compiles detailed numbers on age, household size, and spending habits.
And it gets quite specific. As an example, one of the spots analyzed in the report is the intersection of Highways 3 and 42. The Buxton research tells us that 12 percent of the nearby households can be categorized as what marketers call “boomers and boomerangs.”
Those are households of adults in their 50s and 60s, with kids in their 20s who have moved back home. Those households typically have upscale incomes but tend to buy “economy cars and off-the-rack clothing.” They like family friendly restaurants and are enthusiastic for both Facebook and WebMD.
Those are the kind of details that retail professionals depend on to decide where to build their next location. But the data can also benefit existing stores, helping them reach our growing and changing population. Merchants can tailor their products and services to serve all of the community.
By helping our existing businesses to thrive, and by attracting new ones to fill in the gaps of what is offered in the community, our efforts will make Rosemount more attractive by offering more services in town – and more jobs and investment.
Dwight Johnson is Rosemount’s city administrator.