Town hires consultant to further economic development goal
Camp Verde's Town Council is hiring a consultant to further enhance its steps toward economic development. The Phoenix firm, ESI, was contracted for $6,569 to perform a market analysis to be used by town officials in its future retail and development recruitment efforts.
Earlier this month, in its first major step toward promoting economic development, the council appointed Councilmen Mitch Dickinson and Eric Eberhard to act as good-will ambassadors representing the town to potential prospects.
According to ESI's proposal letter, its project objective is "to gather consumer information about area residents to be used by the town in the recruitment of big-box retail and mall activities in the future."
Its first task, the letter states, "would be to identify a market area for retail activity taking into account transportation corridors, regional retail competition, publicly held lands and natural barriers. A regional map would be created which shows the study area and major landmarks and transportation routes." Its second task, "would be an analysis of population growth trends and demographic information for the primary and secondary market area. Where available, 200 Census data will be used in our growth trend and demographic analysis; with socio-economic data from nationally recognized data purveyor being used to analyze the remainder of key demographic factors considered by retail site selection professionals. These factors include population and age distribution, household income, home ownership status and projected growth in population and households."
ESI states it will analysis spending patterns and perform a psychographic analysis which groups people and households by their consumer behavior as opposed to demographic factors.
The up-to-date data gathered by ESI is expected to assist the team of two in selling the town's assets.