Downtown Farmington Development Authority
The Downtown Farmington Development Authority is committed to attracting investors large and small. This organization believes in Farmington and focuses its efforts on making the downtown core a great place to do business.
The organization was founded in 1986 and it puts its energies towards correcting and preventing downturns in the business district's economy. However, the Downtown Development Authority also extends its duties to preserving heritage buildings and creating attractive financing solutions for investors within the district. For example, it has supported an upgrade of the downtown core, which makes it a more inspiring place to spend time, and it has also established a tax-increment-based financing structure which is appealing to new investors.
To help you understand why the Farmington Development Authority is so devoted to making Farmington a land of opportunity for investors from all over America and the world, let's share some information about this charming Michigan city, which is renowned for its old-fashioned, "small town" vibe.
Facts about Farmington, MI
Farmington is a small city with a population of over ten thousand. It covers just several square miles and features a refurbished downtown core. The local economy is focused on service delivery and one hundred and sixty businesses operate in the region.
Renowned for its lovely, Victorian-style homes, its excellent public school system and its overall liveability, Farmington is a great place to live, work and play. It also features public transportation services via the tri-county SMART system. One age group doesn't dominate in the area. It's an even spread of different age groups, except those over age 70, who represent just 5 percent of the population.
In general, this city is known as a family place. There are plenty of families in the area and they drive the local economy. Investors who are selling goods and services which growing families need or want will find that downtown Farmington offers great potential.
Situated in the southwesterly section of Oakland County, the downtown area is close to a range of big freeways, so it does offer a great location.
Farmington Business Resources:
What's On the Horizon?
Currently, the DDA (Downtown Development Authority) is implementing a master plan which is designed to keep the business economy thriving. It's all about adapting to change in a positive way and evolving in order to meet the needs of the larger community. Since the downtown area is so easy to explore on foot, it's a great place for people to shop.
Like its community neighbour, Farmington Hills, Farmington's downtown core serves the needs of community members, as well as the needs of Detroit citizens. Since Detroit is close by, the opportunity to access community business and Detroit business makes Farmington a viable choice for entrepreneurs.
The DDA's board members are experienced and savvy businesspeople and they bring great vision to the Authority's new Master Plan. This plan is being financed via funds which come from the city's council. The plan includes an upgraded design for the city's Main Street, which is quite a retail hub already.
Skilled planners have created a new design, which will necessitate alterations to the city's existing zoning codes. Land use regulations will also need to be tweaked in order to put the plan into place. However, members of the DDA do not anticipate problems with regard to adjusting rules. Most citizens of Farmington support the changes, as they know that they will enhance the business prospects and overall liveability of the city.
All aspects of the plan should be in place by the year 2020. As you can see, Farmington has a bright future ahead. Investing now will be the key to taking advantage of the benefits of the Master Plan in the short and long term. If you're looking for a business opportunity which will begin to pay off in the short term and continue to offer growth opportunities in the next decade, investing in Farmington may be the way to go.
Since most residents do have enough disposable income to support an array of retail outlets, restaurants and other types of businesses, entrepreneurs will definitely appreciate what this small city has to offer.
Invest in Farmington Today
Now that you know more about the Downtown Farmington Development Authority and the way that it supports the downtown core and its businesspeople, you'll have a deeper understanding of just how much members of this authority care about their city and its investors.
By creating and implementing a Master Plan, the DDA bring vision and scope to their duties. They support future growth and welcome new entrepreneurs, by offering them access to a vibrant downtown core which will only get better in the future. To find out more about this organization, be sure to drop by the official DDA website today: http://www.downtownfarmington.org/