The Many Benefits of Having a Business Downtown
Downtown Traverse City offers retailers a very strong retail destination, a variety of space size and price, the region's best tourist traffic, and a central location in Michigan's fastest growing retail market.
Check out why you should choose Downtown Traverse City as the place to open your business.
The Downtown Development Authority Supports Downtown Businesses
The Downtown Development Authority (DDA) is charged with spurring on the economic development of Downtown Traverse City. Whether the DDA is helping new businesses start up or supporting existing businesses in survival and growth, the heart of their involvement Downtown is to grow commerce in the region.
As a business owner, connecting with the DDA is a great first step in business development. Whether you are trying to find the right location or locating the proper forms and permits, we've got your back.
In addition to having support from the DDA office, locating your business in Downtown Traverse City offers many great amenities. The backdrop of historic buildings with attractive, modern streetscapes, provides a landscape that draws many visitors.
And because so many entrepreneurs have brought their businesses to Downtown Traverse City, the area offers a diverse mix of business types and diversity within customer bases.
The Region's Most Dynamic Retail District
- Downtown's retail vacancy rate is below 4%.
- Over 5,000 downtown employees enjoy shopping and dining downtown every day.
- The DDA District is home to 800 residents.
- Downtown Traverse City is home to the area's finest women's clothing, jewelry and home accessory stores.
- Tourist attractions include two public beaches, the History Center of Traverse City, City Opera House, the State Theatre, and downtown itself draws millions of tourists every year.
- Downtown Traverse City is the only major retail area located in the middle of the region's highest income census tracts.
The Traverse City's Largest and Strongest Office Submarket:
- Three quarters of a million square feet of office space and a healthy 2007 vacancy rate of 7.5%
- Office inventory has increased 20% since 1997
- Downtown Traverse City is the Northwest Michigan's financial center with over 25 financial service businesses.
- Downtown is home to many major nonprofits including the Traverse City Area Chamber of Commerce, Traverse City Convention & Visitor's Bureau, Rotary Charities, Michigan Land Use Institute, and Traverse City Film Festival.
- Regional media organizations are located here such as the Traverse City Record Eagle, Midwest Broadcasting, Traverse - Northern Michigan's Magazine, Traverse City Business News, and more.