William "Bill" Sabo was hired last year by Shreveport Mayor Tom Areceneaux to be the city's Economic Development Director, effective November first.
When Sabo moved into city hall he had nothing more than the shirt on his back, a raggedy beard and an unkempt hairstyle. Thankfully those personal aspects have improved, somewhat.
But he did have an office with a window, an empty desk, a computer, paper clips and a cool looking shoulder knapsack. Nowhere to be found was a rolodex of phone numbers ,any list of economic development contacts or even a map of the city. And no staff.
With a nebulous job description many city hall observers expected Sabo to suddenly be an economic magnet for the city--rolling in new businesses by the handful and helping established ones expand exponentially. Imagine the Chamber, NLEP, and BRF executive directors/presidents all rolled into one--viola SABO!
Neighborhood advocates for economically depressed areas--think MLK, Cedar Grove, Queesborough, Allendale--expected Sabo to deliver long desired businesses. Think Whole Foods, Trader Joes, Costco, Aldi, Neiman Marcus and other big name retailers--but no liquor stores, vape shops, tattoo parlors, payday loans or pawn shops in these neighborhoods.
Overlooked in these expectations was the reality that regional and national retailers look to hard numbers when deciding plans for expansion. These companies have community profile requirements and data on competing businesses that are followed in determining new locations..
Like these companies, Sabo has access to census data on neighborhood populations, household income and demographics. But info on what fields to plow for recruitment of retailers was the hidden grail in the mayor's office and nowhere was Indiana Jones to be found.
The City has just contracted with a company to provide needed data to provide direction for Sabo. See the list of services Retail Strategies is to provide attached below. This information will not only provide a road map but also a standard for measuring his job performance, which has been quietly questioned by some Council members.
In a few days Mayor Arceneaux will be in the fourth quarter of his third year in office. Early next year want to be mayoral candidates will start seriously evaluating potential election campaigns to be Shreveport's next mayor. Mayor Tom has stated he intends to seek re-election.
Economic development along with the usual campaign hot button issues of crime, streets, and water quality (along with water bills) will certainly be featured in a mayor's campaign platform. Sabo's work to date and future success in his position will also be a factor in this election.
Getting research information, real estate analysis and marketing materials will certainly equip Sabo with needed information for his future efforts. How soon this will be provided and how quickly it can be used for economic development are critical factors. Economic development as in bringing in new business is not an overnight process and there are no magic bullets.
EXHIBIT A
This section outlines the Services which Retail Strategies (the “consultant”) will provide to the City of Shreveport, Louisiana (the “client”).
RESEARCH
Identification of priority retail categories for recruitment and/or local expansion
Retail Prospect List- Identification of at minimum 10 retail prospects to be targeted for recruitment
Contact Information for Retail Prospects
Retail Site Selection Criteria for retail prospects
Mobile Data Collection from major retail node
Retail Gap Analysis for trade area (i.e. leakage and surplus)
Peer Market Identification and Trade Area Comparison Analysis
Peer Market Retailer Void Analysis
Custom demographic research – historical, current, and projected demographics – to include market trade areas by political boundaries, radius/drive times, and custom trade area
Identification of retail trade area using political boundaries, drive times and radii and custom boundary geographies.
Consumer Spending Patterns and Behavior Report
Tapestry Lifestyle Segmentation Analysis – psychographic profile of trade area
REAL ESTATE ANALYSIS
Retail Real Estate Analysis identifying 5+ real estate sites performed by licensed retail real estate professionals
Identify Target Zones for short- and long-term retail development
Property Catalog
MARKETING MATERIALS
Development of customized marketing guide
Create Aerial imagery of trade area(s) with traffic counts
Customized Retail Recruitment Plan
RETAIL ACADEMY
Access to Retail Academy: ONLINE Education Course and Resource Library
One (1) Retail Academy Workshop, totaling six (6) hours in Birmingham, AL or Fort Worth, Texas
Industry overview from Commercial Real Estate professionals
Quarterly 1:1 virtual meeting to discuss progress