Challenge
Jasper, Alabama works with Retail Strategies to bring new retail and restaurant brands to the growing market. With a population of nearly 14,000, when the engagement began Jasper had retail leakage in apparel, pet stores, shoes, and the toys and hobby sector.
The Retail Strategies team started by working on the redevelopment of a dilapidated shopping mall. Acting as a liaison between the city and a developer, our team worked diligently to create an incentives solution to close the economic gap that existed in the deal structure.
The mall redevelopment project has been a huge success in Jasper and was a catalyst to bring more retail into the market.
“Dunham’s has been a major target of ours and we were glad to assist the developer with sales tax incentives to help close the gap on bringing Dunham’s to the old JCPenney’s space. Dunham’s will help attract other brands to the Mall and help put it back on solid footing."
Success
In addition to the mall redevelopment, ALDI expressed interest in Jasper early on. While the grocer was in the process of evaluating real estate, the ALDI real estate team initially turned down a site on the highway. With the team’s deep knowledge of the real estate assets in Jasper, a new site was quickly put in front of the ALDI real estate team and their lead developer. Ultimately, the developer purchased the property that Retail Strategies proposed, and brought along Harbor Freight as part of the development.
ALDI, Dunham’s Sports, Five Below, Harbor Freight Tools, Hobby Lobby, TJ Maxx, Huddle House, Dunkin’ Donuts, Freddy’s Frozen Custard, Mattress Firm, Petco, Planet Fitness, Shoe Carnival, Super Cut’s, Waffle House, Wendy’s, and Badcock Furniture have all opened in Jasper since partnering with Retail Strategies.
An estimated sales tax revenue of $2.2 million is generated each year from these 17 retail companies that helps to fuel the city’s budget. Approximately 300 jobs have been created from new businesses opening in the community.
