Retail as a strategic catalyst for economic development

Traditional economic development will tell you to attract high-paying jobs, which will bring the rooftops and the rooftops will bring the retail. In this conventional thinking, retail takes care of itself. The current post-pandemic reality has completely upended this traditional approach. Millennials and Gen Z workers no longer choose their hometowns based only on jobs. They choose the place they want to live first then find the job. Remote workers can choose to live anywhere and are no longer tethered to an office location. Attracting today's workforce requires a vibrant retail and restaurant base, so while retail may not be the primary economic driver for a community, it is certainly a critical catalyst. Guest presenter Lacy Beasly, president of Retail Strategies, will look at how economic developers can adapt their growth strategies to this new retail landscape. She will cover the following topics and more: