{"id":115,"date":"2008-12-22T05:35:00","date_gmt":"2008-12-22T05:35:00","guid":{"rendered":"http:\/\/terragrafix.com\/blog\/?p=115"},"modified":"2008-12-22T05:35:00","modified_gmt":"2008-12-22T05:35:00","slug":"is-emeryvilles-retail-economy-sustainable-check-out-todays-new-york-times","status":"publish","type":"post","link":"http:\/\/www.thesecretnewsonline.com\/?p=115","title":{"rendered":"Is Emeryville’s Retail Economy Sustainable? Check out today’s New York Times"},"content":{"rendered":"

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by Marc Albert<\/span><\/p>\n

A lengthy story on the front page of the business section of today’s New York Times<\/span><\/span> <\/span>suggests that Emeryville’s renaissance as a big box mecca may backfire — as worried consumers drastically cut spending.
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The story, A City That Shopped<\/a><\/i><\/span> <\/span>Till it Dropped <\/i><\/span><\/a><\/span><\/span><\/a>chronicles the waning fortunes of local retailers and the repercussions for a city dependant on sales taxes.<\/span>
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The Times<\/span> describes Emeryville as having “hitched its wagon over the last several decades to what seemed like the limitless ability of American shoppers to spend money.” The strategy is suddenly a poor bet. The Times<\/span> said 25 percent of the city’s revenue comes from sales taxes and “‘collections fell 23 percent in the third quarter this year from the same period last year, among the steepest drops in the state.” <\/span>
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With the expansion of the Bay Street mall<\/span> (pictured above<\/span>) looming on the City Council’s agenda, the article asks, “Did a city that worked so hard to clean up the mess left by abandoned steel mills<\/span> and rubber plants ultimately trade one kind of urban blight<\/span> for another, more modern variety?”<\/span>
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The City Council majority continues to promote big development (and millions of dollars in taxpayer subsidies to build these developments) with promises of big tax revenues in return — to pay for parks, child care, sidewalks, and better youth and senior programs. All of those promises may turn out to be nothing more than pie-in-the-sky. <\/span><\/span>
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