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Main Street cities generate $82.7M in investments

Posted on Wednesday, May 15, 2013 at 5:22 am

Tennessee Main Street LogoThe Tennessee Department of Economic and Community Development announced the 2012 Economic Impact and Reinvestment Statistics from its 24 Tennessee Main Street communities across the state, including Fayetteville. 

Certified Main Street communities generated more than $82 million of public/private investment in 2012, and continue to be a vital part of the state’s economic and cultural identity.

“Continued growth and a strong foundation at a local level contributes to Tennessee’s overall livability and can greatly factor into a company’s relocation or expansion decision,” Economic and Community Development Commissioner Bill Hagerty said.

“The Main Street program facilitates focused revitalization in downtown commercial districts by providing jobs, growing the tax base and reinforcing Tennessee’s competitive lead among Southeastern states.”

Fayetteville Main Street’s program is successful due to a team effort, said Carol Foster, local Main Street director.

“Fayetteville Main Street’s Board of Directors work very hard to accomplish all of the criteria to stay an accredited Main Street Program,” said Foster. “We cannot accomplish this on our own and sincerely appreciate the dedication and support of our downtown business and building owners and everyone in Fayetteville-Lincoln County.”

Tennessee Main Street provides technical assistance and guidance for communities in developing common sense solutions to make downtowns safe, appealing, vibrant places where folks want to shop, live and make memories.

Other reinvestment statistics from the 24 certified Main Street communities reporting include: Net new jobs: 604; Net new businesses: 107; Building rehabilitation projects: 217; Public improvement projects: 304; Net new housing units: 273; Volunteer hours contributed: 117,253 (a 13 percent increase from 2011); and Total public/private investment: $82,742,898.

“The annual reinvestment statistics make a strong statement about the economic activity occurring within our Tennessee Main Street program districts,” Community Development Program Director for Tennessee Main Street Todd Morgan said. “New jobs, businesses and investment, along with an impressive number of volunteer work hours, prove this community-based approach to downtown revitalization is hard at work.”

There are currently 24 certified Main Street program communities across Tennessee: Fayetteville, Bristol, Cleveland, Collierville, Columbia, Cookeville, Dandridge, Dayton, Dyersburg, Franklin, Gallatin, Greeneville, Jackson, Leiper’s Fork, Kingsport, Lawrenceburg, McMinnville, Murfreesboro, Morristown, Rogersville, Tiptonville, Savannah, Union City and Ripley.

Tennessee Main Street communities are required to meet National Accreditation standards annually, which include broad-based community support for the program, a comprehensive work plan, a sufficient operating budget and adequate staff and volunteer support. Tennessee Main Street operates under the National Main Street Center, a program of the National Trust for Historic Preservation.

For more information about the Tennessee Main Street Program, please visit www.tennesseemainstreet.org.  For more on the National Main Street Center, visit www.mainstreet.org.