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  • Fair Oaks Village Economic Opportunity Study
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Fair Oaks Village Economic Opportunities Study

 

    FOVEC is developing funding for a study to identify the kinds of businesses most likely to be successful in the village. This will help current businesses acquiring capital for growth, property owners identify the best prospects for businesses to fill vacant storefronts and the Merchants Association & Chamber to identify complementary businesses that will grow and strengthen the village.

Pledges and donations are not posted immediately but are kept reasonably up to date once verified. Pledges and Donators include FOVEC, local realtor Becky Lund, Sacramento County Department of Economic Development, SMUD, Fair Oaks Theatre and more.

Business & Property Owner Letter	Resident & Interested Party Letter	Attachment Both Letters

What will the Study Provide?

Background Analysis

• Review published reports covering the Fair Oaks Village, examine identified opportunity sites and tour the market area.
• In conjunction with FOVEC, select case study communities (based on similar alignment with the village, Vision and other relevant criteria
• Gather basic demographic and economic data on the village and study communities and compare opportunities with the Village

Case Studies

• Review published reports, marketing materials and economic development plans for the case study communities to identify core business trends, real estate development , events and regional draws.
• Interview community representatives, as necessary, to discuss business growth and development patterns as well as catalytic initiatives.
• Distill key findings and share with FOVEC to identify opportunities aligned with its vision

Recommendations

• Provide a set of recommendations for viable economic development opportunities for FOVEC to consider in assessing future business orientation
• Work with FOVEC to prioritize or rank recommendations
• Prepare a report highlighting the case study findings and recommendations and present it to FOVEC.

Why support this study?

• It will help the Property Owners, the Chamber of Commerce & Merchant’s Association better understand who potential clients are and what they want most.
• It will aid current businesses looking for growth opportunities.
• It will aid the community by helping bring both more ways you can shop and do business conveniently in the Village.
• It will help identify opportunities such as what can be done better and where diversification might occur.
• It will minimize the risk of the village’s businesses health declining by identifying business products, services and actions that will increase its vitality.
• It will help in developing a marketing plan for more effectively attracting particular business services.
• It will help identify actions for capitalizing on the village’s uniqueness.
• It will help identify priorities in carrying out steps to revitalize the village.
• It will serve as  benchmark for measuring progress and how well the village is doing.