Business Facilities - May 2008 - (Page 26)

(median age 32.3) Construction at the 27,000-foot strip and an average center at Angelo’s Grove in Marion, AR household income of $59,000, it’s a demographic that is enticing retailers. A 92-acre mixeduse retail, office, and residential development at the intersection of U.S. Highway 64 and try Inn & Suites, Wingate Inn, and Interstate 55 is the location of a sig- an office park. There is space allonificant piece of Marion’s retail devel- cated for a big-box retailer, secondary opment. Traffic count on I-55 past anchors, a 12-screen cinema, and a the U.S. 64 interchange is in excess of town center with mixed use on three 42,000 vehicles per day. Angelo’s levels. A 260-unit apartment comGrove, developed by Memphis devel- plex is under construction adjacent to opers Kenneth F. Farrell and Richard the center. Leike, already has located national Besides the interstate exposure and fast food outlets Wendy’s, Zaxby’s, high traffic count, residential growth and Captain D’s, along with Colton’s is beckoning Memphis-area retailers (a casual restaurant). A 27,000- to make Marion one of their subursquare-foot strip center is a new addi- ban branch locations. The city’s houstion to Angelo’s Grove, as are Coun- ing stock is increasing at a rate of A PEEK AT RETAIL IN THE UK • 11% of all VAT-registered businesses in the UK are retailers, with the total number currently at 180,875. • UK retail sales were £265 billion in 2007, larger than the combined economies of Denmark and Portugal. • Retail sales account for 1/5 of the UK economy. • The retail sector generates almost 8% of the Gross Domestic Product of the UK. • More than a third of consumer spending goes through shops. • Sales over the Internet account for less than 4% of total retail sales, despite strong growth in recent years. • The retail industry employed more than three million people, or 11% of the total UK workforce, at the end of 2007. • During the last five years, employment in retail has grown by 50,402 jobs. City of Marion, Department of Economic Development 31 Military Road / Marion, Arkansas 72364 / 870-739-5414 www.marionarkansas.org / e-mail kayb@marionarkansas.org #2204 at www.BusinessFacilities.com 26 A S P E C I A L A D V E RT I S I N G S E C T I O N O F B U S I N E S S FA C I L I T I E S PHOTO CREDIT: CITY OF MARION, AR What makes this one of the most ideal automotive sites in the country? To start, it’s in the heart of the country — just west of Memphis. The one-owner site offers 1,265 level and cleared acres. It’s located in the trucking capital of North America (one mile from the junction of I-55 and I-40), and more major markets, 152, can be reached overnight from here than any other area in the nation. Plus, it has easy accessibility to Memphis International Airport (20 minutes), the Mississippi River (10 minutes), and all five Class 1 railroads (10 minutes). And once you get down to business, you’ll have a workforce of more than 650,000 people to choose from in the metro area. If you like what you see, visit 1-800-ARKANSAS.com or www.marionarkansas.org to find out more. more than 6% per year. More than 250 upscale homes have been built just outside the city limits in the past four years. The numbers are not an anomaly for Marion, where almost 1,500 new homes have been built in the past 10 years. Growth is being driven by the suburban sprawl of the Memphis metro area on the east side of the Mississippi River, where new suburbs are being built 30 to 45 miles from the city’s downtown business and entertainment center. By contrast, Marion’s primary residential subdivisions are less than 10 miles from downtown Memphis. The combination of lower property taxes, low crime rates, a highly rated school system, and quick access to big city amenities continues to draw Memphis area residents. Despite growth in Marion’s retail market, big opportunities still remain, particularly in the areas of clothing and restaurants. Total retail sales potential for the area of Marion and Memphis’ downtown residential community is $1.279 billion. http://www.BFLiveXchange.com http://1-800-ARKANSAS.com http://www.marionarkansas.org http://www.marionarkansas.org http://www.marionarkansas.org http://www.BusinessFacilities.com

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Business Facilities - May 2008 Contents First Word Snapshots The UK's Most Lucrative Locations, Pound for Pound Economic Development in a Flash Corporate Moves: Massachusetts Florida: A Ripe Climate for Innovation Innovating Big in Rhode IIsland Retail Set to Ride Out a Recession Corporate Moves: New Jersey South Carolina: A Sweet Spot in the Southeast Endless Opportunities in North Carolina Economic Awakening in the Mohawk Valley Metro Spotlight: Alexandria, LA Where Call Centers Call Home Texas Receives First Business Facilities State of the Year Award Advertiser Index Inside Livexchange

Business Facilities - May 2008

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