A new report from the Institute for Local Self-Reliance, by Olivia LaVecchia and Stacy Mitchell. From the Executive Summary:
Local businesses that have been serving the everyday needs of their communities, sometimes for generations, are being forced out and replaced by national chains that can negotiate better rents or afford to subsidize a high-visibility location. In ILSR’s 2016 Independent Business Survey, 59 percent of independent retailers reported being worried about the escalating cost of rent, with one in four describing it as a top challenge. The trend isn’t limited to retailers. The price of industrial space is rising rapidly too, jeopardizing a budding renaissance in urban manufacturing.
This report examines what’s causing commercial rents to skyrocket and explores six broad policy strategies that elected officials and community leaders are proposing to address it.
Go here to read and/or download the report.