The Sacramento Metro Chamber is a proud member of the Sacramento Inclusive Economic Development Collaborative (Sac IEDC) and recently released its 2020 Annual Report, which highlights the significant economic impact of seven aging commercial corridors — Del Paso Boulevard, Florin Road, Franklin Boulevard, Mack Road, Oak Park, Power Inn and Stockton Boulevard — upon the City of Sacramento’s economy.
These commercial corridors are supported by property and business improvement districts (PBID) and are joined by the SACC, the Sacramento Hispanic Chamber of Commerce, the Sacramento Metro Chamber and the North Sacramento Chamber of Commerce to provide additional resources and support in these areas.
This project was made possible by a $350,000 grant from the City of Sacramento to spur additional assistance for these communities.
The report shows that businesses in aging commercial corridors contribute more than 46,000 direct jobs and $7.6 billion in direct economic impact in the City of Sacramento alone.
Other highlights of the report include:
- Small businesses need additional support when navigating the regulatory and permitting processes. In a survey conducted by the Sac IEDC in partnership with Economic Planning Systems (EPS), the group learned this was the number one hurdle facing the small business community at the time of the survey.
- Economic Impact Reports show that these aging commercial corridors are a critical part of the City of Sacramento’s economic base. In addition to the direct economic contributions of these districts, they also serve as the epicenter for the adjacent residential neighborhoods, thus elevating the importance of these corridors’ need for investment and economic vitality.
Seven business walks conducted by the collaborative helped to establish stronger communication and trust within the respective communities. The Sac IEDC will continue to build upon this outreach in its next phase.
- Research of vacant and underutilized parcels within each of the PBID districts showed over 1,100 parcels fitting that description, thus illustrating the availability of land for more development and investment in these aging corridors.
”Mack Road Partnership’s involvement with the Sac IEDC has been a huge catalyst for our district” stated Bill Knowlton, Executive Director for the Mack Road Partnership. “By working together with the Chamber partners and my other PBID colleagues, we are able to combine resources and provide additional support that we otherwise would not be able to do independently. Collectively, we are moving the needle for these marginalized communities and showing their value.”
The Chamber is proud to be a partner in this unprecedented collaboration of business groups as we provide research and recommendations for supporting areas in our greater community that employ many and generate economic growth but need additional support to be fully realized. Learn more about this important work HERE.