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Business
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O.S.U. Retail Study
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The city of Medina contracted with the Ohio State University Extension for a study on the types of retail businesses that would
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| Jill Clark and Greg Davis from OSU lead the discussion during the Surplus/Leakage Presentation |
have a greater opportunity of meeting our residents needs based upon dollars leaving our community. In addition, the study shares those businesses where Medina has a surplus of dollars spent locally. The study based upon demographic, economic and general purchasing habits of our residents determines the potential spendable dollars that our city and surrounding townships have for various retail segments. In a surplus situation, more dollars are being spent in a community than the community has been alloted for that segment and thus the ability to gain market share would be very competitive. Likewise, when a segment of retail is experiencing a leakage, the community has more available dollars than are being spent in the community. The liklihood of a well planned business that would be in a leakage segment of capturing community dollars is greater. This study in no way suggests that a business with a good product value, customer service and marketing would not be highly successful in a suplus industry or would a company in a leakage segment be successful if it doesn't tend to good business practices.
The following are retail areas where the City of Medina has a significant leakage and thus provides a local market for the product or service (Italics = greater than $10M in leakage):
Optical Goods, Hobby, Toy or Game Shops, Books & Office Supplies, Candy, Nut & Confectionary Stores, Sporting Goods 7 Bicycle Shops, Jewelry Stores, Shoe Stores, Apparel & Accessory Stores, Electronics, Music & Video, Furniture & Home Furnishings, Drinking Places, Eating Places, Grocery Stores, Motor Vehicles & Supplies, Gift, Novelty & Souvenir.
Medina Surplus Leakage Study.
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City of Medina's Commercial
Development Handbook
Small Business Workshop - July 16, 2010 Click here for more information
Summer Youth Opportunity - Employers take advantage of this win/win for you and the youth of the community
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3/50 Project - Did you know that for every $100 spent in locally owned independent stores, $68 returns to the community? Be a part of the solution.
Medina County's unemployment rate 6th lowest in the State. County Map
Tom Krueger
Economic Development Director
City of Medina
132 N. Elmwood Ave.
Medina, Ohio 44256
Phone: 330-764-3319
Mobile: 330-304-5611
Fax: 330-722-9045
tkrueger@medinaoh.org
Greg Hannan
Community Development Director
(Planning & Zoning)
132 N. Elmwood Ave.
Medina, Ohio 44256
Phone: 330-722-9023
Fax: 330-722-9045
ghannan@medinaoh.org
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