What happens in Vegas may help Granbury
by Denise Morris, Staff Writer, Hood County News
(May 17, 2006; Page 1)
Everybody wants to know – what new restaurants and stores will be coming to town.
“I’m getting the most questions about Target and Braum’s,” mayor David Southern said.
Granbury is among the Top 20 micromarkets in the country, which labels the city a desirable, fast-growing small town.
As in, we can’t stop growth in Granbury, so we might as well enjoy it. An estimated $775 million is being spent annually – out of town — by the half-million people in a 30-mile radius of Granbury. They commute to the Metroplex and shop there because it’s close to work. And they often make the long drive to the big city for merchandise that’s not available here, city officials said.
Southern will be leaving Sunday for the most important retailers’ national convention that happens annually in Las Vegas. Joining him will be economic development director Joey Grisham and city council member and economic development committee board member Mickey Parson.
This is where they will hob-knob with the national chains and pitch our town as the place they want to locate. It’s also the place where they will scrutinize these businesses to discern which ones they wish to court.
So, who are the contenders so far?
Some of the retailers being targeted include Target, Kohl’s, Dress Barn, Best Buy, Circuit City, JCPenney, Sports Authority, Ross and Linens ‘N Things.
Restaurants include IHOP, Olive Garden, Outback and Applebee’s.
There are others being considered – and there are no guarantees who will move to Granbury.
A most controversial issue is the square.
“We would like to see more activity in the square, more nightlife,” Grisham said. “But we don’t want to lose the unique local flavor in the process.”
Those big name retailers thus will likely be limited to Highway 377 and other areas beyond the historic downtown area.
But these retailers are not so easy to lure, and Granbury has a unique challenge in getting them to come.
The city’s population, at less than 6,500, is insufficient to attract national retailers or restaurants. But the city is a hub
center for miles around, and city officials want retailers to consider the greater population of Hood County and beyond.
“Twenty thousand vehicles pass in front of my house every day,” the mayor said of Pearl Street.
These drivers are seen by potential Granbury businesses as dollar signs, and city leaders have the numbers they need.
The most important element that they will bring to the convention table is the Retail Trade Area Determination & Retail Leakage Analysis conducted by a Mississippi market research firm.
This presentation packet shows the real numbers of the sizeable population beyond Granbury city limits. It also demonstrates what is called “retail leakage,” the estimated money spent elsewhere by Granbury residents. Leakage means loss to the city, which looks at expenditure as sales tax income.
Some points:
- The 6,300 Granbury population is expected to grow by 10 percent in the next five years.
- The average Granbury household income is expected to increase by 10.4 percent over the next five years, from $53,397 to $58,958.
- The primary retail trade area for Granbury is approximately 85,992 people in a 20-mile radius.
- A half million people live in a 30-mile radius of Granbury.
- Sixty-five percent of the population commutes out of the area, primarily to the Metroplex.