Main Street Alabama, a pioneer in community revitalization, is proud to announce its 10th anniversary of making a transformative impact on local economies. The organization’s Main Street Approach™, which leverages resources to revitalize downtowns and neighborhood commercial districts, has not only breathed new life into communities but also become a beacon of success and community pride. Over the last decade, Alabama’s Main Street districts have seen a substantial positive change, with small businesses flourishing and local governments investing in improving streets, sidewalks and public art. The once-quiet districts are now lively and at the center of their communities, making investors more confident in their potential. Main Street Alabama is proud to have played a significant role in the revitalization of these communities and look forward to continuing its mission to promote economic development in Alabama.
Within the Main Street Alabama $1 Billion Dollar Success Story, a few key findings stood out:
Over $1 billion dollars invested. Main Street Alabama has catalyzed both private and public investments exceeding $1 billion in the state’s Main Street districts since 2014.
Job creation and income boost. Property improvement projects in Main Street Districts have generated nearly 6,000 direct, indirect, and induced jobs, contributing to an annual labor income of $297 million. Public investment, on the other hand, has resulted in over 1,800 jobs and $95 million in annual labor income.
Tax revenue boost. Property investments in Main Street areas have injected $35 million in taxes into Alabama’s state and local governments over the last decade.
Confidence in Main Street survival. An impressive $225 million has been invested in the acquisition of Main Street properties, signaling a resounding vote of confidence in the longevity and vibrancy of Main Streets across Alabama.
Thriving business landscape. More than 1,200 net new businesses now call Main Street districts home, with a better open/close ratio compared to both state and national patterns.
Sales tax contribution. A conservative estimate places the sales tax paid in 2023 by net new businesses in Alabama Main Street communities at over $18 million.
Job growth. Main Street Alabama’s communities have reported a cumulative total of over 4,530 net new jobs.
Volunteerism. Between 2014 and 2023, Main Street volunteers dedicated approximately 177,322 hours, reflecting a cumulative value of over $4.4 million in donated time and services to their communities.
As Main Street Alabama continues to thrive and empower communities, these achievements go beyond mere numbers, capturing the essence of a revitalized spirit and a united sense of community pride. The success of Main Street Alabama stands as a testament to the enduring impact of strategic community development.
Article submitted by Main Street Alabama.