City Center Marketplace Analysis

Information you need to

INVEST with CONFIDENCE city center marketplace analysis Mankato • North Mankato April 2017

city center marketplace analysis Mankato • North Mankato April 2017

table of contents Where is the City Center..........................1 Who’s in the City Center..........................2 Retail Marketplace.....................................3 The Districts..............................................4 City Center Map........................................6 Arts, Culture and Events...........................8 Successful Projects..................................10 New Business Opportunities..................15 City Center Stats.....................................16 Accolades................................................17 Appendix.................................................18

Photo courtesy of Jason Smith, Aerial Imagery Media

Your Business Resources For zoning, parking, signage, building permits, incentives, development sites information and other city functions in Mankato or North Mankato: City of Mankato Kristin Prososki, Economic Development Specialist kprososki@mankatomn.gov | mankatomn.gov 507.387.8687 City of North Mankato Mike Fischer, Community Development Director michaelf@northmankato.com | northmankato.com 507.625.4141 For available buildings/sites, local industries, consumer patterns, economic metrics and development activity within the City Center: Greater Mankato Growth John Considine, Director of Regional Business Intelligence jconsidine@greatermankato.com | greatermankatogrowth.com 507.385.6649 For start-up, marketing, financing and business operations information: Small Business Development Center Julie Nelson, Associate Regional Director julie.nelson@mnsu.edu | myminnesotabusiness.com 507.389.8875 Other potential resources: • • • • •

SCORE, score.org Enterprise Minnesota, enterpriseminnesota.org Workforce Center, positivelymn.com RCEF, rcef.net Southern Minnesota Initiative Foundation, smifoundation.org • Region Nine Development Commission, rndc.org

• • • • • • •

Blue Earth County, co.blue-earth.mn.us Nicollet County, co.nicollet.mn.us Minnesota State University, mnsu.edu South Central College, southcentral.edu Bethany Lutheran College, blc.edu Rasmussen College, rasmussen.edu Gustavus Adolphus College, gustavus.edu

The Greater Mankato Growth, Inc. Family:

city center

City Center of Mankato is in the heart of one of Forbes’ “Best Small Places for Business & Careers” (2014). Uniquely featuring two cities, the City Center encompasses the downtowns of Mankato and North Mankato. In the City Center, you’ll find major corporations, locally-owned retail, agribusiness, telecommunications, health care, finance, outdoor adventure services and many great spots for delicious coffee, food and drinks.

At the geographic center of a metro area with 280,000 people living within a 60 minute commute - and featuring over 26,000 college and university students - City Center is an employment, entertainment and professional services hub for southern Minnesota.

In recent years the City Center has seen more than $147 million in capital investment, including new office tower developments, residential projects, the rehabilitation of historic properties and the expansion of the Verizon Center.

Hospitality is abundant with dozens of restaurants and bars serving residents, employees and visitors. Entertainment is offered daily in a variety of venues. Public art can be found throughout the City Center, through sculptures (permanent and rotating), murals, sidewalk poetry and even decorated utility boxes! Parks, green spaces and abundant planters also contribute to an aestheticallypleasing atmosphere.

With more than 180 blocks of exciting opportunity, City Center is a business destination you can’t afford to ignore!

by the numbers

280,000

$147million

in capital investment in City Center since 2003

trade area population

60%

An employment destination.

The population increases by

higher sales per capita than any other regional center in Minnesota

61%

Mon. - Fri. during regular business hours

1.7 square miles with

6,863 residents - 2015 6,955 by 2020

1

2

who is here in the City Center

350,000

annual convention attendees The City Center is rich with culture and commerce. It is the urban center to a much larger metropolitan area of Southern Minnesota and home to 445 businesses.

INDUSTRY # Retail Trade....................................... 97 Accommodation and Food Services.60 Finance and Insurance Services........ 60 Health Care and Social Assistance.... 47 Professional and Business Services... 47 Other Services.................................. 26 Non-Profit........................................ 22 Real Estate, Rental and Leasing......... 19 Legal Services................................... 17 Arts, Entertainment, and Recreation.14 Production and Distribution............. 13 Construction...................................... 8 Media and Marketing.......................... 7 Technology Services........................... 5 Education............................................ 3

58

public art pieces

2,520

public parking spaces

42

bike racks

3.21

miles of bike lanes

what people are saying...

“Old Town Mankato is quickly becoming one of the best places to own a small business in Mankato. There is an excitement beginning in this area of town which in turn is creating a lot of support from community members and consumers who want to see Old Town become a standalone visitor destination. The shop owners in Old Town are passionate about supporting one another and are working together to create a unique and cohesive experience for the community.”

– Heather Fisher, Owner Salvage Sisters

9

bus routes

retail marketplace

within 15 minutes of the City Center

The pull of consumers for a retail establishment in the City Center is increased by those who travel to other commercial areas of the community from southern Minnesota and northern Iowa. This is evident from the community’s retail sales per capita (60% higher than other regional trade centers in Minnesota). Additionally, regional events at the multiple venues in the City Center further bolster consumer traffic. The Retail Marketplace analysis below shows an estimated “typical pull” of a 15-minute drive time from the City Center.

72,921

28,457

$42,836

$27,949

2016 population

2016 Median Disposable Income

2016 households

2016 Per Capita Income

SEE APPENDIX ON PAGE 18 FOR MORE INFORMATION

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the districts of the City Center DOWNTOWN CORE/ ENTERTAINMENT DISTRICT: The Downtown Core includes the Entertainment District and the surrounding area. This is an active area that includes the Verizon Center, Children’s Museum of Southern Minnesota, office buildings, many restaurants and bars, shops and new residential. Employees keep it vibrant during the day, and the draw of shows, hockey and hospitality make it an evening destination.

what people are saying...

“I have always been a believer that a strong City Center is the heart of any city.

When the opportunity arose to purchase a very successful and thriving business in the center of the city, it was my calling to invest! I love our city and will continue to support it in any way I can.”

– Sandra Oachs, Owner Spinners Bar & Grill

OLD TOWN: Old Town is the place to go for unique, locallyowned retail. Many of the businesses are located in historic buildings – in fact, a full two blocks of Riverfront Drive is on the National Register of Historic Places. From specialty food to home decor, from outdoor adventure to comic books, Old Town offers an atmosphere you can’t find anywhere else in town.

BELGRADE AVENUE: 5

Belgrade Avenue is a hub for hospitality, with plenty of places to catch a bite or a drink. The very active Business on Belgrade Association puts on a variety of events each year, including Bier on Belgrade, Bells on Belgrade and Blues on Belgrade.

Blues on Belgrade Photo by Aerial Imagery Media

HISTORIC AND CULTURAL DISTRICT: History is on display in this area, which includes the Blue Earth History Museum, Twin Rivers Council for the Arts/Emy Frentz Gallery, Carnegie Arts Center and the historic post office.

Hubbard House

RESIDENTIAL: The Lincoln Park, Washington Park, and Sibley Park neighborhoods feature distinctive parks, historic homes and a variety of housing options.

Active neighborhood associations in Washington Park and Lincoln Park bring together residents and organize special events.

Betsy-Tacy House

Sibley Park

6

areas of interest in the City Center 1 Verizon Center 2 Sibley Park 3 Front Street Enhancements 4 Old Town 5 Riverfront Park

- Vetter Stone Amphitheater 6 Public Safety Center 7 Belgrade Commercial Area 8 U.S. Highway 169 9 Parking Ramps

2

8

5

7

7

4

Ve ri

zo n Ce Wir nte ele r ss

9 3 6

ENTERTAINMENT DISTRICT

1

8

arts, culture and events in the City Center

One of the hallmarks of a thriving downtown is a strong cultural presence. City Center Mankato has benefited from civic, business and philanthropic leaders who understand the value of vibrant activities and events in the heart of a community.

Greater Mankato United Way Human Foosball Tournament

Bike Polo Along Stolzman Road The marquee public art project is the CityArt Walking Sculpture Tour, which has brought more than $1.7 million in rotating public art to the City Center since 2011 and added 16 pieces to the permanent public collection. The tour features new sculptures each year from both Minnesota artists and sculptors from around the world.

The CityArt on the Go Utility Mural program has transformed 17 utility boxes into unexpected works of art. The Mni Mural, a new 500 foot long painting on the Mankato Flood Wall near Reconciliation Park, creates a visual connection to the Minnesota River and was completed in August 2016.

“Tractor Bull” - 2016 CityArt Walking Sculpture Tour “We’re bullish on Minnesota. We’re bullish on Mankato. We’re bullish on the City Center.” – Paul Osdoba, Profinium

“Godzilla” - 2015 CityArt Walking Sculpture Tour, People’s Choice Winner

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Many activities, including birthday parties, happen all year long at the Children’s Museum of Southern Minnesota.

Families enjoy activities and special events at the Children’s Museum of Southern Minnesota and at Sibley Park, one of Minnesota’s Coolest Playgrounds (Newscastic, 2015). Children also experience Mankato’s past through Maud Hart Lovelace’s Betsy-Tacy Houses.

Feeding the goats at Sibley Park.

Carnegie Art Center Gallery Local artists are celebrated through galleries at Carnegie Art Center, The 410 Project and the Emy Frentz Gallery at Twin Rivers Council for the Arts.

The City Center music scene has continued to grow and attract both local talent and national recording artists to venues like Riverfront Park and Verizon Center.

Concert during Ribfest, Riverfront Park

10

successful projects progression in the City Center

GRAIF BUILDING

3 CIVIC CENTER PLAZA, MANKATO • • • •

Built in 1892 Renovated 30,000 sq. ft. in 2008 Original Georgia limestone exterior Intricate ceiling and pillars kept intact during renovations • Windows, mechanicals, stairway and elevator shaft were some of the major items replaced • $5.1 Million

After

Before

US BANK CENTER

110 EAST HICKORY STREET, MANKATO

After

• • • • •

Built in 1984 Renovated in 2012 Mix-use Class A building Original name: Heco Building Exterior renovations included new curtain wall windows with all glass corners, new cladding and cosmetic work to the deck an elaborate metal paneled tower, brickwork and entrance • Interior improvements included complete office and public space renovations • $14 Million

Before

After

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Before

LANDKAMER BUILDING

124 EAST WALNUT STREET, MANKATO what people are saying...

“After looking around the city for a location for our restaurant, we chose the City Center due to its significant foot, bike and vehicle traffic and population density. All the recent improvements to the area have enhanced that even more. With growth coming from a unique mix of businesses, there is a community feel to this area that you cannot find anywhere else.”

• Built in 1936 • Renovated in 2004 • The building was totally re-purposed throughout; turning a 90% vacant furniture store into mixed use including office and restaurant occupants • The fountain is built from reused fixtures from the original Lincoln School • Original light fixtures were re-wired and ballasted for use in the lobby • $3.3 Million

– Tom Frederick Jr, Owner Pub 500

After

Before

PUB 500

500 SOUTH FRONT STREET, MANKATO • • • •

2003 Construction Bar/Restaurant Demolition of former office building $784,000

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successful projects progression in the City Center Before

TAILWIND DEVELOPMENT PROJECTS • • • • •

Office: 120,000 sq. ft.

Retail: 6,500 sq. ft.

20 Apartments 320 Parking Stalls $40 Million

Photo Credit: Gregg Anderson / Gallery 19 BLOCK 518 RIDLEY

PROFINIUM

After

PROFINIUM PLACE 100 WARREN STREET

• Built in 2014 • Former: Parking Lot • Now: Office Building

BLOCK 518

518 SOUTH FRONT STREET • Built in 2015 • Former: Retail Building • Now: Mixed used

RIDLEY OFFICE TOWER 111 W. CHERRY STREET • Built in 2015 • Former: Parking Lot • Now: Office Building

BLOCK 518

RIDLEY

PROFINIUM

what people are saying...

“Tailwind Group and our investment partners have made significant investment in City Center Mankato because we are confident in its future. We are seeing more and more people living and working in Mankato’s downtown and anticipate even further growth. The City of Mankato, Greater Mankato Growth and private businesses like ours are all committed to keeping the City Center going strong.”

– Kyle Smith, Director of Development Tailwind Group

Before

After

13

HILTON GARDEN INN 20 CIVIC CENTER PLAZA, MANKATO • • • • • • •

2006 Construction 9 Floors 118 Rooms 5 Meeting Rooms On-site Restaurant Former vacant space $9.5 Million

MINNSTAR BANK

201 POPLAR STREET, MANKATO • • • •

After

14,000 sq. ft.

Kasota Lime Stone Exterior Former car dealership $2.8 Million

Before

After

Before

MARIGOLD

200 BELGRADE AVENUE, NORTH MANKATO • • • • •

Built in 2010 Mixed Use Building 9,800 sq. ft. office 4 second-level apartments $1.7 Million

VERIZON EVENT CENTER

1 CIVIC CENTER PLAZA, MANKATO 14

successful projects progression in the City Center

• • • •

Opened 2016 2,000 seat capacity 21,100 sq. ft. $30.5 Million

The Verizon Center hosts first class concerts, and the new Verizon Events Center allows for more intimate performances and serves as the new home of the Mankato Symphony Orchestra.

You can find live music somewhere in the City Center on most evenings.

The Verizon Center is the anchor of the City Center Campus. The expansion of the Verizon Event Center is ideal for expos, trade shows, conventions and performances. The City Center Campus consists of 75,000 total square feet of exhibit, tradeshow and convention space and 269 hotel rooms between two hotels.

new business opportunities Demographics at a glance

SEE APPENDIX B ON PAGE 20 FOR MORE INFORMATION

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urban core of the trade area Demographics at a glance Below is a sampling of the demographics of 3 different geographies: The Greater Mankato Trade Area, MankatoNorth Mankato Metropolitan Statistical Area (MSA), and the City Center. The City Center is located at the center of the trade area and the metropolitan area.

Square mile

2016 Population

2021 Population

2016 Median Age

2016 Total Households

2021 Total Households

2016 Average Household Size

2016 Average Household Income

2021 Average Household Income

2016-2021 Annual Rate

2016 Total Housing Units

2016 Owner Occupied Housing Units

2016 Renter Occupied Housing Units

2016 Vacant Housing Units

Trade Area 6,816 281,412 286,018 38.7 112,520 114,757 2.4 $69,344 $75,612 1.75% 123,677 83,630 28,890 11,157

MSA 1,233 101,456 105,298 32.6 38,840 40,482 2.43 $71,025 $77,190 1.68% 41,625 26,182 12,658 2,785

City Center 1.69 6,997 7,237 28.4 3,259 3,375 2.03 $47,590 $49,422 0.76% 3,561 1,114 2,145 302

The Trade Area represents the retail pull for the entire community. A significant portion of this pull comes from regional destinations like the River Hills Mall or the Verizon Center. The retail businesses in the City Center indirectly benefit from the pull of these regional destinations.

The MSA is comprised of Blue Earth and Nicollet Counties. An MSA is often looked at as a standard geography when evaluating demographics of a population.

Highlights: • All three geographies show a growing population • City Center is a younger area as compared to the larger areas • City Center households are smaller as compared to the larger areas • City Center is a younger area, compared to the larger areas

A view of Riverfront and North Mankato. Photo by Aerial Imagery Media

Greater Mankato and the City Center have experienced tremendous growth over the past 20 years. This growth has not been by chance, but rather the result of careful planning and progressive ideas. Greater Mankato, which includes Mankato, North Mankato and the surrounding region, is also a hub for a wide variety of activities and events in southern Minnesota. This growth and progressive movement has not gone unnoticed by the rest of the world. These awards and accolades should help provide you with the information you need to INVEST with CONFIDENCE.

awards and accolades

The CITYART WALKING SCULPTURE TOUR earned recognition as one of the 14 Coolest Urban Spaces in America from Thrillist in 2015!

Kyle Fokken’s “Song of the Flying Dutchman” was awarded Best in Show, Other Materials in 2016

The City Center’s Coffee Hag was named Minnesota’s top woman-owned business by the Small Business Association in 2016

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appendix A Summary on page 3

SUMMARY DEMOGRAPHICS 2016 Population

72,921

2016 Households

28,457

2016 Median Disposable Income

$42,836

2016 Per Capita Income

$27,949 NAICS

Industry Summary Total Retail Trade and Food & Drink Total Retail Trade Total Food & Drink

Supply

(Retail Potential)

(Retail Sales)

Retail Gap Leakage/ Number of Surplus Factor

Businesses

4445,722

$1,090,491,358 $1,868,516,486 -$778,025,128

-26.3

667

44-45

$988,918,761 $1,716,207,615 -$727,288,854

-26.9

493

722

$101,572,597

$152,308,871

-20.0

175

NAICS

Demand

Supply

(Retail Potential)

(Retail Sales)

Industry Group Motor Vehicle & Parts Dealers

Demand

-$50,736,274

Retail Gap Leakage/ Number of Surplus Factor

Businesses

441

$227,681,988

$339,971,222 -$112,289,234

-19.8

65

Automobile Dealers

4411

$187,453,069

$280,647,120

-$93,194,051

-19.9

27

Other Motor Vehicle Dealers

4412

$25,435,565

$41,162,286

-$15,726,721

-23.6

15

Auto Parts, Accessories & Tire Stores

4413

$14,793,354

$18,161,817

-$3,368,463

-10.2

22

Furniture & Home Furnishings Stores

442

$27,515,248

$43,875,183

-$16,359,935

-22.9

29

Furniture Stores

4421

$17,309,333

$31,946,180

-$14,636,847

-29.7

14

Home Furnishings Stores

4422

$10,205,914

$11,929,003

-$1,723,089

-7.8

15

Electronics & Appliance Stores

443

$54,963,458

$77,984,839

-$23,021,381

-17.3

30

Bldg Materials, Garden Equip. & Supply Stores

444

$60,715,885

$139,623,247

-$78,907,362

-39.4

45

Bldg Material & Supplies Dealers

4441

$53,534,741

$128,971,600

-$75,436,859

-41.3

37

Lawn & Garden Equip & Supply Stores

4442

$7,181,144

$10,651,648

-$3,470,504

-19.5

8

Food & Beverage Stores

445

$162,164,761

$281,117,695 -$118,952,934

-26.8

44

Grocery Stores

4451

$134,613,987

$241,844,738 -$107,230,751

-28.5

19

Specialty Food Stores

4452

$11,212,632

$11,636,456

-$423,824

-1.9

10

Beer, Wine & Liquor Stores

4453

$16,338,142

$27,636,502

-$11,298,360

-25.7

15

Health & Personal Care Stores

446,4461

$63,531,387

$66,624,714

-$3,093,327

-2.4

47

Gasoline Stations

447,4471

$69,946,975

$91,471,720

-$21,524,745

-13.3

25

448

$45,548,458

$65,209,681

-$19,661,223

-17.8

62

Clothing Stores

4481

$31,665,184

$45,541,765

-$13,876,581

-18.0

41

Shoe Stores

4482

$6,183,219

$7,317,019

-$1,133,800

-8.4

9

Jewelry, Luggage & Leather Goods Stores

4483

$7,700,054

$12,350,897

-$4,650,843

-23.2

12

451

$27,635,764

$172,179,284 -$144,543,520

-72.3

46

4511

$23,607,872

$125,562,863 -$101,954,991

-68.3

39

Clothing & Clothing Accessories Stores

Sporting Goods, Hobby, Book & Music Stores Sporting Goods/Hobby/Musical Instr Stores

19

Book, Periodical & Music Stores

4512

$4,027,892

-$42,588,529

-84.1

7

452

$186,935,269

$365,372,158 -$178,436,889

-32.3

16

Department Stores Excluding Leased Depts.

4521

$145,505,686

$278,176,758 -$132,671,072

-31.3

10

Other General Merchandise Stores

4529

$41,429,583

$87,195,401

-$45,765,818

-35.6

6

453

$44,464,599

$44,625,855

-$161,256

-0.2

76

Florists

4531

$1,892,639

$4,783,024

-$2,890,385

-43.3

8

Office Supplies, Stationery & Gift Stores

4532

$7,013,147

$8,783,965

-$1,770,818

-11.2

16

Used Merchandise Stores

4533

$4,510,926

$8,831,280

-$4,320,354

-32.4

24

Other Miscellaneous Store Retailers

4539

$31,047,886

$22,227,585

$8,820,301

16.6

28

454

$17,814,969

$28,152,015

-$10,337,046

-22.5

9

Electronic Shopping & Mail-Order Houses

4541

$12,834,628

$14,321,576

-$1,486,948

-5.5

4

Vending Machine Operators

4542

$858,243

$12,142,899

-$11,284,656

-86.8

1

Direct Selling Establishments

4543

$4,122,098

$1,687,540

$2,434,558

41.9

4

722

$101,572,597

$152,308,871

-$50,736,274

-20.0

175

Special Food Services

7223

$2,508,864

$2,627,277

-$118,413

-2.3

8

Drinking Places - Alcoholic Beverages

7224

$5,533,574

$6,410,415

-$876,841

-7.3

12

Restaurants/Other Eating Places

7225

$93,530,160

143,271,179

-49,741,019

-21

154

General Merchandise Stores

Miscellaneous Store Retailers

Nonstore Retailers

Food Services & Drinking Places

$46,616,421

Data Note: Supply (retail sales) estimates sales to consumers by establishments. Sales to businesses are excluded. Demand (retail potential) estimates the expected amount spent by consumers at retail establishments. Supply and demand estimates are in current dollars. The Leakage/Surplus Factor presents a snapshot of retail opportunity. This is a measure of the relationship between supply and demand that ranges from +100 (total leakage) to -100 (total surplus). A positive value represents ‘leakage’ of retail opportunity outside the trade area. A negative value represents a surplus of retail sales, a market where customers are drawn in from outside the trade area. The Retail Gap represents the difference between Retail Potential and Retail Sales. Esri uses the North American Industry Classification System (NAICS) to classify businesses by their primary type of economic activity. Retail establishments are classified into 27 industry groups in the Retail Trade sector, as well as four industry groups within the Food Services & Drinking Establishments subsector. For more information on the Retail MarketPlace data, please click the link below to view the Methodology Statement. http://www.esri.com/library/whitepapers/pdfs/esri-data-retail-marketplace.pdf Source: Esri and Infogroup. Retail MarketPlace 2016 Release 1 (2015 data in 2016 geography) Copyright 2016 Infogroup, Inc. All rights reserved.

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appendix B

Summary on page 15

Drive Time: 15 minute radius

Product/Consumer Behavior Convenience Stores (Adults) Shopped at convenience store in last 6 mos Bought brewed coffee at convenience store in last 30 days Bought cigarettes at convenience store in last 30 days Bought gas at convenience store in last 30 days Spent at convenience store in last 30 days: <$20 Spent at convenience store in last 30 days: $20-$39 Spent at convenience store in last 30 days: $40-$50 Spent at convenience store in last 30 days: $51-$99 Spent at convenience store in last 30 days: $100+ Convenience Stores (Adults) Shopped at convenience store in last 6 mos Bought brewed coffee at convenience store in last 30 days Bought cigarettes at convenience store in last 30 days Bought gas at convenience store in last 30 days Spent at convenience store in last 30 days: <$20 Spent at convenience store in last 30 days: $20-$39 Spent at convenience store in last 30 days: $40-$50 Spent at convenience store in last 30 days: $51-$99 Spent at convenience store in last 30 days: $100+ Entertainment (Adults) Attended a movie in last 6 months Went to live theater in last 12 months Went to a bar/night club in last 12 months Dined out in last 12 months Gambled at a casino in last 12 months Visited a theme park in last 12 months Viewed movie (video-on-demand) in last 30 days Viewed TV show (video-on-demand) in last 30 days Watched any pay-per-view TV in last 12 months Downloaded a movie over the Internet in last 30 days Downloaded any individual song in last 6 months Watched a movie online in the last 30 days Watched a TV program online in last 30 days Played a video/electronic game (console) in last 12 months Played a video/electronic game (portable) in last 12 months Financial (Adults)

Expected Number of Adults/HHs

Percent of Adults/HHs

MPI

31,657 8,618 8,112 23,593 4,534 5,498 4,620 3,317 15,163

53.6% 14.6% 13.7% 40.0% 7.7% 9.3% 7.8% 5.6% 25.7%

106 93 110 121 95 103 103 127 112

31,657 8,618 8,112 23,593 4,534 5,498 4,620 3,317 15,163

53.6% 14.6% 13.7% 40.0% 7.7% 9.3% 7.8% 5.6% 25.7%

106 93 110 121 95 103 103 127 112

37,547 8,455 10,917 27,717 6,221 10,281 7,919 6,969 5,692 5,338 14,726 13,099 12,557 8,269 3,228

63.6% 14.3% 18.5% 46.9% 10.5% 17.4% 13.4% 11.8% 9.6% 9.0% 24.9% 22.2% 21.3% 14.0% 5.5%

107 110 111 105 77 99 79 91 73 126 122 139 142 134 120

Product/Consumer Behavior Have home mortgage (1st) Used ATM/cash machine in last 12 months Own any stock Own U.S. savings bond Own shares in mutual fund (stock) Own shares in mutual fund (bonds) Have interest checking account Have non-interest checking account Have savings account Have 401K retirement savings plan Own/used any credit/debit card in last 12 months Avg monthly credit card expenditures: <$111 Avg monthly credit card expenditures: $111-$225 Avg monthly credit card expenditures: $226-$450 Avg monthly credit card expenditures: $451-$700 Avg monthly credit card expenditures: $701-$1,000 Avg monthly credit card expenditures: $1,001+ Did banking online in last 12 months Did banking on mobile device in last 12 months Paid bills online in last 12 months Grocery (Adults) Used beef (fresh/frozen) in last 6 months Used bread in last 6 months Used chicken (fresh or frozen) in last 6 months Used turkey (fresh or frozen) in last 6 months Used fish/seafood (fresh or frozen) in last 6 months Used fresh fruit/vegetables in last 6 months Used fresh milk in last 6 months Used organic food in last 6 months Health (Adults) Exercise at home 2+ times per week Exercise at club 2+ times per week Visited a doctor in last 12 months Used vitamin/dietary supplement in last 6 months Home (Households) Any home improvement in last 12 months Used housekeeper/maid/professional HH cleaning service in last 12 months Purchased low ticket HH furnishings in last 12 months Purchased big ticket HH furnishings in last 12 months

Expected Number of Adults/HHs

Percent of Adults/HHs

MPI

16,777 31,093 3,987 3,268 3,818 2,363 16,797 19,013 35,037 8,633 46,824 9,319 4,329 3,541 3,158 2,141 4,227 24,257 11,052 27,667

28.4% 52.7% 6.8% 5.5% 6.5% 4.0% 28.4% 32.2% 59.3% 14.6% 79.3% 15.8% 7.3% 6.0% 5.3% 3.6% 7.2% 41.1% 18.7% 46.9%

91 107 88 105 89 82 101 114 110 101 106 136 106 95 100 84 79 115 134 109

19,604 26,677 19,289 4,547 15,194 24,162 25,164 5,201

68.9% 93.7% 67.8% 16.0% 53.4% 84.9% 88.4% 18.3%

99 100 98 101 98 99 100 93

19,335 7,585 43,453 30,227

32.7% 12.8% 73.6% 51.2%

115 99 97 97

7,476 3,241

26.3% 11.4%

98 87

4,361 6,172

15.3% 21.7%

95 104

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Product/Consumer Behavior Bought any small kitchen appliance in last 12 months Bought any large kitchen appliance in last 12 months Insurance (Adults/Households) Currently carry life insurance Carry medical/hospital/accident insurance Carry homeowner insurance Carry renterâ&#x20AC;&#x2122;s insurance Have auto insurance: 1 vehicle in household covered Have auto insurance: 2 vehicles in household covered Have auto insurance: 3+ vehicles in household covered Pets (Households) Household owns any pet Household owns any cat Household owns any dog Psychographics (Adults) Buying American is important to me Usually buy items on credit rather than wait Usually buy based on quality - not price Price is usually more important than brand name Usually use coupons for brands I buy often Am interested in how to help the environment Usually pay more for environ safe product Usually value green products over convenience Likely to buy a brand that supports a charity Reading (Adults) Bought digital book in last 12 months Bought hardcover book in last 12 months Bought paperback book in last 12 month Read any daily newspaper (paper version) Read any digital newspaper in last 30 days Read any magazine (paper/electronic version) in last 6 months Restaurants (Adults) Went to family restaurant/steak house in last 6 months Went to family restaurant/steak house: 4+ times a month Went to fast food/drive-in restaurant in last 6 months Went to fast food/drive-in restaurant 9+ times/mo Fast food/drive-in last 6 months: eat in Fast food/drive-in last 6 months: home delivery Fast food/drive-in last 6 months: take-out/drive-thru Fast food/drive-in last 6 months: take-out/walk-in

Expected Number of Adults/HHs

Percent of Adults/HHs

MPI

6,660 3,373

23.4% 11.9%

105 93

24,421 37,195 25,762 5,504 9,549 8,538 5,991

41.4% 63.0% 43.6% 9.3% 33.6% 30.0% 21.1%

97 96 93 114 109 105 96

15,211 6,711 11,347

53.5% 23.6% 39.9%

99 105 98

24,882 5,834 9,216 16,047 10,406 9,089 6,448 5,761 20,881

42.1% 9.9% 15.6% 27.2% 17.6% 15.4% 10.9% 9.8% 35.4%

100 84 87 104 93 94 86 93 101

8,754 13,790 20,605 14,073 21,839 54,787

14.8% 23.4% 34.9% 23.8% 37.0% 92.8%

112 112 111 91 111 102

45,882 16,482 54,563 24,607 23,973 5,425 30,513 13,162

77.7% 27.9% 92.4% 41.7% 40.6% 9.2% 51.7% 22.3%

104 102 103 106 112 120 112 115

Product/Consumer Behavior Television & Electronics (Adults/Households) Own any e-reader/tablet Own e-reader/tablet: iPad Own any portable MP3 player HH owns 1 TV HH owns 2 TVs HH owns 3 TVs HH owns 4+ TVs HH subscribes to cable TV HH subscribes to fiber optic HH has satellite dish HH owns DVD/Blu-ray player HH owns camcorder HH owns portable GPS navigation device HH purchased video game system in last 12 mos HH owns Internet video device for TV Travel (Adults) Domestic travel in last 12 months Took 3+ domestic non-business trips in last 12 months Spent on domestic vacations in last 12 months: <$1,000 Spent on domestic vacations in last 12 months: $1,000-$1,499 Spent on domestic vacations in last 12 months: $1,500-$1,999 Spent on domestic vacations in last 12 months: $2,000-$2,999 Spent on domestic vacations in last 12 months: $3,000+ Domestic travel in the 12 months: used general travel website Foreign travel in last 3 years Took 3+ foreign trips by plane in last 3 years Spent on foreign vacations in last 12 months: <$1,000 Spent on foreign vacations in last 12 months: $1,000-$2,999 Spent on foreign vacations in last 12 months: $3,000+ Foreign travel in last 3 years: used general travel website Nights spent in hotel/motel in last 12 months: any Took cruise of more than one day in last 3 years Member of any frequent flyer program Member of any hotel rewards program

Expected Number of Adults/HHs

Percent of Adults/HHs

MPI

18,789 8,012 19,754 6,008 7,957 5,997 4,883 14,724 1,082 6,412 17,853 3,614 7,793 1,910 1,897

31.8% 13.6% 33.5% 21.1% 28.0% 21.1% 17.2% 51.7% 3.8% 22.5% 62.7% 12.7% 27.4% 6.7% 6.7%

100 88 109 103 108 99 91 104 50 89 104 91 100 85 95

30,621 7,426 7,719 3,030 2,231 2,283 2,667 3,115 13,564 1,753 1,971 1,929 2,141 3,153 25,357 4,630 7,056 7,525

51.9% 12.6% 13.1% 5.1% 3.8% 3.9% 4.5% 5.3% 23.0% 3.0% 3.3% 3.3% 3.6% 5.3% 42.9% 7.8% 12.0% 12.7%

104 113 122 88 106 99 82 78 95 66 80 100 73 96 106 94 73 90

Data Note: An MPI (Market Potential Index) measures the relative likelihood of the adults or households in the specified trade area to exhibit certain consumer behavior or purchasing patterns compared to the U.S. An MPI of 100 represents the U.S. average. Source: These data are based upon national propensities to use various products and services, applied to local demographic composition. Usage data were collected by GfK MRI in a nationally representative survey of U.S. households.

Esri forecasts for 2016 and 2021.

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notes

notes

our mission The City Center Partnershipâ&#x20AC;&#x2122;s mission is to be a catalyst for implementation of the City Center Renaissance Plan and to support private and public investment in City Center projects, programs and initiatives that attract a greater number of customers, employees and residents to the City Center.

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city center marketplace analysis Mankato â&#x20AC;˘ North Mankato April 2017

Photo Credit: Rich Gemmill