Raleigh experiences downtown business boom
Posted October 27, 2016
Raleigh, N.C. — The City of Oaks is growing as more than two dozen new businesses have opened in downtown Raleigh.
A store called Finds gives new life to older furniture. Two months ago, the store found a new home downtown because owner Evie Dixon said she wanted to go where her customers are.
“So far so good. We have been really thrilled with the foot traffic,” Dixon said.
Bill King with the Downtown Raleigh Alliance said 33 businesses have opened downtown so far this year, compared to 29 openings during all of 2015.
“We are having tremendous success getting street level business open in downtown,” King said. “That tells us the economy is really strong downtown, interest level is really strong in coming downtown.”
According to King, 45,000 people to go work daily in downtown Raleigh and more than 7,000 people call downtown Raleigh home. That number is expected to rise to more than 10,000 by the end of the decade.
Dixon hopes the population increase will mean more potential customers.
“Raleigh is a juggernaut right now. It’s just growing and we wanted to be a part of it,” she said.
While Finds has been successful downtown, not all new businesses experienced the same fate.
Eighteen street-level businesses in downtown Raleigh have closed so far this year. However, King said that 23 new businesses have announced plans to open in the coming months.
While the increase in business this year has been good, it does not compare to 2010, when downtown Raleigh added more than 50 new street-level shops.