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Maine Development Foundation

Benefits

Main Street Maine

Benefits of a local Main Street Program:

  • Enhances community pride and quality of life
  • Preserves and creates jobs
  • Enhances industrial, commercial and professional development
  • Increases collaboration between public and private sectors in order to attain common goals
  • Bolsters property values throughout the community
  • Grows existing businesses, attracts new businesses, and reinforces other economic development activities
  • Protects and utilizes the historic assets in downtown
  • Increases the tax base by developing vacant and underutilized buildings to higher and better uses

Local Residents (can benefit by):

  • Better shopping
  • Closer shopping
  • Less driving
  • More social and cultural activities
  • Better sense of hometown pride, community and identity
  • Historical awareness
  • Stable or improved home values
  • A healthy local economy means property tax will not be raised
  • More attractive community
  • More activities for kids

Retail Business Owners (can benefit by):

  • Increased sales
  • An improved image
  • Increased value of business
  • Educational opportunities for the merchant
  • Increased traffic; more people coming into the business district
  • District marketing
  • Better business mix / business recruitment
  • Community pride
  • A way to have needs and issues addressed
  • Improvement in the quality of business life

Professionals (can benefit by):

  • Increased traffic; opportunity for combining business and shopping District marketing; the Center is marketed as a unit
  • Better business mix/business recruitment
  • Increased community pride
  • A way or forum for having town center needs and issues addressed
  • Improvement in the quality of business life
  • Reductions in vandalism or other crime
  • Assistance with tax credits for professionals who own their buildings
  • Assistance with design issues
  • Better communication with other property owners
  • Improved town center image
  • New and/or better uses for existing buildings for professionals who own their buildings

City Government (can benefit by):

  • Increased income to City through additional tax revenues
  • Increased number of local jobs
  • Improved local economy
  • Positive perception outside the community of the town center
  • Improved relations between City and community at large
  • Business recruitment
  • Impetus for public improvements

Property Owners (can benefit by):

  • Increased rates of occupancy
  • Rents can be stabilized or increased (helps property values)
  • Reductions in vandalism or other crime
  • Assistance with tax credits
  • Assistance with design issues
  • Better communication with other property owners
  • Improved town center image
  • New and/or better uses for existing buildings
  • Upper floors filled
  • New retail uses

Large Corporations (can benefit by):

  • Increased economic and residential growth helps to spread tax burden over larger base
  • Strong home values help property tax rates stay stable
  • Positive perception of community is a draw for industry
  • Good community image helps corporations’ local image
  • An attractive community helps attract/keep employees
  • Employees who live nearby miss fewer work days due to weather

Financial Institutions (can benefit by):

  • Increased business deposits
  • Increased potential for business loans and other bank services
  • An improved image and good will
  • Success of the community is crucial to banks’ success

Related News

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May 13th, 2016
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Nonprofits Profit Maine; Just Ask Biddeford

February 16th, 2015
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February 5th, 2015
Centralmaine.com-Rachel Ohm Staff Writer Read more...

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