Beaver County Main Street Outlook
Beaver County Main Streets: Outlook
There is a bright future for the main streets of Beaver County as the area benefits from the new Shell cracker plant and the upsurge in tech companies
opening in neighboring Pittsburgh take effect.
To survive, main street businesses need customers and therefore, their success is driven by the number of potential customers they have within walking and/or driving distance.The new cracker plant is situated in Beaver County, within easy driving distance from Rochester, New Brighton, Beaver Falls, Midland, Freedom, Aliquippa and Ambridge, and the estimated 600 permanent employees, as stated by Shell, is seen as an incubator for economic growth for the whole area.
In addition to the permanent workers at the plant, according to an article in the Pittsburgh Post Gazette, it is estimated an additional 200 permanent contractors will be required to run the plant, and during the annual turn-around this number will swell to over 1,200. And that is just the start…. A study commissioned by the public-private partnership, Team Pennsylvania Foundation, concluded that four more crackers can be supported by the ethane produced from Appalachian shales and the Marcellus Shale Coalition predicts an additional $3.7 billion investment in such projects.
For Beaver County, it is anticipated that many companies using the plastics produced by the cracker plant will be eager to capitalize on the low-cost of material by relocating or expanding their existing facilities in Beaver County. As these new and expanded facilities are built and eventually come online, there will be an increased demand for hotels, restaurants, medical facilities, and retail outlets, serving as a catalyst for the revitalization of the main streets of Beaver County.
Although often ignored, Beaver County also benefits from its’ close proximity to the Pittsburgh International Airport. Being only a fifteen to thirty-minute commute, many employees of the airlines based at the airport choose Beaver County as their preferred place to live.
In addition to our own good fortune, nearby Pittsburgh is also experiencing a renaissance as high-tech firms move into the area: Recent studies of U.S. census data show that Pittsburgh has joined the national leaders in attracting degree-holding Millennials. Plus, there are positive economic trends in Pittsburgh, driven by job gains in the leisure and hospitality, education and health care, and professional and business services sectors. With low rents compared to Pittsburgh, and an easy commute, Beaver County is being seen as a good choice for Millennials in which to rent or purchase property.
What does this mean for the main streets of Beaver County? It means that businesses there will see an upsurge in business from expanding populations.
The first stage of this revitalization is already being felt: Speculators have already started buying up commercial and residential properties in the county, causing prices to increase substantially in some areas and the once high availability of vacant and distressed main street properties has already fallen in many areas of Beaver County.
To help new businesses establish on the main streets, initiatives and organizations in each borough and city provide help and advice, and work with businesses to complete the necessary permits, code regulations, etc. In addition, they advise on how to receive any available grants and loans and other facilities available for businesses wishing to open their doors on the main streets of Beaver County.
If you have any questions or comments, or need help or advice, please do not hesitate to call us on 412.370.1190 or click here now to send us a message.
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