Stephen Weiler, a CSU assistant professor, says he hopes his data will entice retailers to the poor neighborhoods. Although poor, they still pack a lot of buying power. For example, they spent almost $400 million on clothing and household goods in 1997, the latest data available.
By providing retailers with data on unmet demand for good and services, the city and CSU hope to bring stores and jobs to these neighborhoods, making them successful and self-sufficient. "I'm hoping this will prove to be a useful project for the communities' residents," Weiler tells GlobeSt.com. "We can show retailers and their backers the opportunities that retail establishments can provide in these areas."
Denver Mayor Wellington Webb says that revitalizing these neighborhoods is one of his major goals during his last term in office. "Denver as a whole has been benefiting from a strong economy," Webb says. "However, there are many residents and neighborhoods that have only seen very limited benefits from this growth. That is why I have decided to focus resources on these neighborhoods."
The 15-month, $105,000 study was funded by a Federal Economic Development Administration grant, which covered half the cost. The city financed 35% of the cost and the state, 15%.
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