The Development Update is a bi-monthly newsletter prepared by the City of College Park Planning, Community and Economic Development Department covering development activity in the City. This edition features updates on the Maryland Book Exchange redevelopment, Domain at College Park, Cafritz Property, and The Varsity.

CONTACT: Chrissy Rey, 301-789-1815
Stacy Mitchell, Institute for Local Self-Reliance, 207-774-6792

The fifth annual post-holiday survey of independent businesses by the Institute for Local Self Reliance yielded powerful evidence that pro-local attitudes are growing and suggests Independent Business Alliances like CPNBA are yielding direct benefits for their members.

• The survey tallied responses from 1768 businesses, all independent and locally-owned, across 49 states. About half were retailers. Among the notable results:
• A larger share (61%) of respondents reported revenue growth in 2011 compared to 2010.
• Independent retailers enjoyed stronger holiday sales than the retail sector as a whole. While overall holiday sales were up 4.1% in 2011, respondents (all independents) reported an average sales increase of 6.7%.
• More than three-quarters of businesses surveyed said public awareness of the benefits of doing business locally had increased in the last year.
• Independent businesses in communities with an active “buy independent/buy local” campaign run by grassroots groups like YOURGROUP saw revenues grow 7.2% in 2011, compared to 2.6% for those in areas without an alliance.
• Looking solely at retail respondents, the survey found those in areas with an active alliance reported holiday sales growth of 8.5% in 2011, compared to 5.2% for retailers in areas without such an initiative.

“Throughout the holiday season, we were hearing anecdotally from independent business owners that they were especially busy and many customers were seeking out locally owned stores. The results of this survey suggest that this was indeed a widespread trend,” said Stacy Mitchell, senior researcher at the Institute for Local Self-Reliance (ILSR).

CPNBA is a member of the American Independent Business Alliance (AMIBA), a national network of more than 80 community alliances supporting local entrepreneurs. “We know independent businesses are key to leading the way out of recession. The survey results confirm the growing number of communities refocusing energy on local entrepreneurs, rather than transient corporations, are receiving a great payback from their investment,” said Jennifer Rockne, co-director of the AMIBA.

For the full report (pdf) by the ILSR, see: http://tinyurl.com/ilsr2012 

Read more: http://www.amiba.net/news/2012/ilsr-survey-template#ixzz1lAOFIcL9

Five University of Maryland graduate students are looking for a business client to engage in a project with. The students are working on their masters in accounting, and will be completing an “action learning project.” For the project the group would work with a business or organization to provide a range of free accounting services. The project is meant to both give the students experience and add value to the client, non-disclosure forms are included. The project will last until approximately the end of May. Previous projects have included risk management, testing and implementing controls, and restructuring accounts receivable. The students all have strong backgrounds in accounting and economics. Please contact Lewis.shattan@gmail.com with any questions or if you are interested.