Franklin Matters: Town of Franklin: Market Study

Monday, July 20, 2020

Town of Franklin: Market Study

The Market Study is on the listing of Presentations scheduled for the Town Council meeting on July 22, 2020. Link to the full agenda can be found below.

From the MAPC Market Analysis
for the Town of Franklin:

"The Town of Franklin, its community partners, and the Metropolitan Area Planning Council, through research, outreach, and analysis, have worked to create the following Market Study. Within this study, the input of residents, businesses, and students and staff from Dean College were incorporated. The three focus areas of the study were Downtown Franklin, the Mixed Business Innovation District, and the Crossing, as well as the Franklin Cultural District.

Research included demographic, housing, transportation, and business data, with consumer spending habits, and market potential, and expenditures incorporated within the study. Additionally, the Town of Franklin Market Study held multiple community engagement sessions, with a town-wide open house, a Business Roundtable, a Dean College Roundtable consisting of students and staff, and a town-wide survey, in addition to the Cultural District Roundtable already mentioned. Furthermore, a town Economic Development Survey was provided, with over 700 responses.

Through research, interviews, and public outreach, a list of eleven recommendations were created in ranked order. These recommendations build upon the strengths of Franklin’s history, its arts and culture community, its active boards and committees, its inspiring college, and its distinctive neighborhood businesses. A full breakdown these recommendations can be found at the end of the study.

...
Based on results from the market study, along with input from the community (through the Open House, Business Roundtable, Arts & Culture Roundtable, Dean College Roundtable and Economic Development Survey), a set of recommended goals, strategies and actions were developed. Recommended goals, strategies and actions focus on marketing Franklin’s existing and potential future amenities to attract more business activity; concentrating development in the existing economic corridors of Franklin Center, The Crossing, and the Mixed Business Innovation District; and growing industry sectors identified in the market study as holding the potential for growth."