John Talmage_Opportunity Dividend Summit

1 SocialCompact| www.socialcompact.org

Social CompactOpportunity Dividend Summit

CEOs for Cities | United Way for SE Michigan March 2 2010


Source: U.S. Census Bureau, 2000 Source: Social Compact Miami DrillDown 2008/2009

MARKET SIZE MARKET SIZE

Population: 367,426 Population: 504,226

Households: 137,577 Households: 179,471

MARKET BUYING POWER MARKET BUYING POWER

Median Household Income: $27,344 Median Household Income: $31,990

Average Household Income: $39,308 Average Household Income: $50,637

Aggregate Income: $5.4 Billion Aggregate Income: $9.1 Billion

Income per Acre: $386,074

Aggregate Informal Economy: (9.3%)

Income of New Home Buyers: $114,972

A Tale of Two cities


1 1 1 12

1 12

5

15

20

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

350 Underserved Neighborhoods

1.5 Million Additional Residents

$36 Billion Additional Buying Power

220,000 people added to the Census counts

50 cities have approached Social Compact for DrillDown analyses

About Social Compact


Barriers for Urban Revitalization - Cycle of Neglect

Thin Markets

High Cost of Data

Negative Perceptions

Lower Quality of Life/Concentrated Poverty

Disinvestment/ Lost Economic Opportunities

CAUSE: INFORMATION GAP IMPACT: ECONOMIC MALAISE

IMPACT: Undervalued and Misunderstood Neighborhoods

CAUSE: Negative Neighborhood Indicators

Property Dislocation/Price Depreciation

Cycle of Neglect


Detroit – Distressed AVMs


Detroit – Market Sales vs. REO Sales


Miami – Market Profile


Cincinnati – Grocery Retail


Washington DC – Business Environment ScanShaw, Logan Circle


Trade area properties and store performance

Uncover trade area characteristics that are likely to determine store performance by industry• Determine which are the stores

that are performing the best per industry (i.e. barber shops, mini markets, restaurants, etc.)

• Determine if there are any common demographic and market properties in the stores’ trade areas

• Establish, per industry, trade area demographic and market properties (indicators) that are likely to support high performance stores.

This pilot analysis was possible thanks to ACCION USA’s loan data.

Miami – Trade Area Analysis


New York – Financial Environment AssessmentGreenpoint, Williamsburg


Washington DC – Mental Mapping Pilot StudyNear Southeast/Navy Yard – All Destinations

Capturing resident patterns, preferences and behaviors for obtaining goods and services

Illustrating unmet demand and retail leakage

Destination location and type (retail, restaurants, entertainment, personal care)

Expenditures (weekly, monthly)

Transport Mode (drive, metro/bus, bike, walk)

Trip Time


Washington DC – Mental Mapping Pilot StudyNear Southeast/Navy Yard – Grocery Related Destinations

Drawing conclusions for informed decision-making

Near SE/Navy Yard residents are underserved by full service grocers

Residents obtain grocery services outside the neighborhood and District

Residents prefer to drive to their grocers

Residents prefer to shop at Whole Foods and Harris Teeter


John Talmage738 7th St SE, Washington D.C. [email protected]

Social CompactOpportunity Dividend Summit

CEOs for Cities | United Way for SE Michigan March 2 2010

John Talmage_Opportunity Dividend Summit

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