HAGERSTOWN, MD News (1/13/2023) – Hagerstown’s downtown area has long been a hub of economic activity for the city, but in recent years, it has faced a number of challenges that have made it difficult for businesses to thrive. Despite these challenges, there are also opportunities for revitalizing the downtown area and supporting the businesses that call it home. Let’s take a look at the challenges facing Hagerstown’s downtown area and its businesses and explore the opportunities for addressing them.
One of the biggest challenges facing Hagerstown’s downtown area is a lack of foot traffic. Many residents and visitors have turned to shopping centers and big-box stores located outside of the downtown area, making it difficult for small businesses to attract customers. This lack of foot traffic has led to a decline in sales and a number of store closures.
Another major challenge facing the downtown area is the lack of investment and development. Despite the city’s efforts to revitalize the area, many of the buildings in the downtown area are in need of repairs and upgrades. This lack of investment has made it difficult for businesses to attract customers and has also led to a decline in property values.
In addition to these challenges, downtown Hagerstown also faces issues related to housing. The lack of affordable housing options in the city has led to a decline in the number of residents living in the downtown area. This has contributed to the decline in foot traffic and has also made it difficult for businesses to attract employees.
Despite these challenges, there are opportunities for revitalizing Hagerstown’s downtown area and supporting its businesses. One promising solution is the creation of a Business Improvement District (BID). A BID is a special district where property and business owners pay an additional assessment to fund services and improvements in the area. This can help to improve the downtown area, increase foot traffic, and attract new businesses.
Another opportunity for revitalizing the downtown area is through the creation of public spaces. By creating parks and plazas, the city can provide a gathering place for residents and visitors, making the downtown area more attractive and vibrant. This can also help to attract new businesses and increase foot traffic.
Another initiative that could help is supporting small businesses by offering incentives such as tax breaks, grants, and loan programs. This can help to keep small businesses open and attract new businesses to the area. Another opportunity is to promote the downtown area as a destination for tourism and cultural events. By creating a calendar of events and promoting the downtown area as a destination, the city can attract visitors and increase foot traffic.
In conclusion, Hagerstown’s downtown area is facing a number of challenges that have made it difficult for businesses to thrive. However, there are opportunities for revitalizing the area and supporting its businesses. By creating a BID, creating public spaces, supporting small businesses, and promoting the downtown area as a destination, the city can help to improve the area and attract new businesses and visitors. With a combined effort from city officials, business owners, and the community, Hagerstown’s downtown area can once again be a thriving hub of economic activity.