Chapter 8: Economic Development & Downtown Revitalization
This Chapter takes a look at economic characteristics and factors affecting commerce and business in Moravia. The Chapter focuses on the Downtown area, considered the economic engine of the Village. Topics include:
- 8.1 Economic Development (Existing Workforce; Earnings by Industry Sector; Existing Economic Climate).
- 8.2 Defining the Downtown (Commercial Core; Transitional Area).
- 8.3 Existing Conditions in the Downtown
- 8.4 Strategic Vision for Downtown Revitalization (Concepts; Downtown Revitalization Committee; Design Guidelines; Community Development Block Grant’s Main Street & Microenterprise Programs; Identifying Partners).
Why is this important?
- One of the most important components of this Plan is economic development. In order for the community to thrive, the local economy must be strengthened, not only by attracting new businesses, but also by supporting and bolstering the existing commercial and industrial enterprises.
What are the takaways
- Encouraging and incentivizing new businesses to invest in the community, along with securing the longevity and profitability of existing businesses, will help achieve this Plan’s Vision Statement.
- Given the existing building stock and infrastructure, the Central Business District (Main Street and the first block of side streets) should be a primary focus in economic revitalization.
- There are several programs and opportunities the Village could access to strengthen the Downtown. A dedicated appointed committee and local business buy-in would minimize impact on the Village budget.