This is a semi-hypothetical question. If you heard that a new city was being created and you had an opportunity to invest in the city and surrounding areas, what investment strategy would you seek to take advantage of the opportunity? What business opportunities would you pursue for the short and long term?
The reason that I am asking these questions is because a small town that I grow up near is about to experience significant population growth over the next 20 years. This is a very rural area. It is estimated that about 10,000 new jobs will be created. I have put some estimates below to help understand the local area.
GROWTH PROJECTIONS:
*****************************************
Current
*****************************************
Population (City): 1000 people
Pop.: Surrounding Area: 8000 people
Blue-Collar Income: $8.50 to $15 per hour
White-Collar Income: $12 to $20 per hour
Median House Income: $29,000
Land Cost: $1100 - $1300 per acre
Restaurants 25
Hotel Rooms 1200
Apartments Units 10
*****************************************
Future
*****************************************
Population (City): 2,000 (due to new jobs)
Pop.: Surrounding Area: 30,000 people
Blue-Collar Income: $12 to $25 per hour
White-Collar Income: $18 to $30 per hour
Median House Income: $40,000
Land Cost: $2100 - $4500 per acre
Restaurants 50
Hotel Rooms 2400
Apartments Units 100
LOCAL AREA:
This area is a small town and has less than 1000 residents. 8000 residents live in surrounding small towns. These small towns are generally less than 20 miles apart. So, the total population of all the small towns is about 9,000 within a 30 radius. With 10,000 jobs expected to come to the area, the population is expected to double. Most of the jobs are expected to be blue-collar jobs such as truck drivers, freight-handlers, dock workers, and warehouse managers. Most of the jobs will be within office parks and industrial parks. Most of the people in this area live in houses or trailers on their own land. Apartments and condos are not very popular to the locals.
This town is located near a big lake and major interstates. It has tried to position itself as a vacation destination over the years but this has not created the desired growth. So, the focus is now on light manufacturing, logistics, and transportation.
BUSINESS IDEAS:
I have recommended the following business ideas to help some of the local people in anticipation of the population growth.
Small Apartments (20 units are less)
Small Self Storage (most people build additional storage in their backyard)
Home Builder (several local companies exist but more will be need to handle the growth)
Daycare Center (none exist in town)
Lawn Service
Janitorial/Cleaning Service
Mechanic Shop (no diesel shops exist)
Small Mall (1 exist but struggling to survive)
Shopping Center (1 exist and 100% occupied)
Banquet Facility (1 exist and 1 is being built)
Truck Stop (none exist near expected warehouse location)
Trailer Park (none exist)
Car Wash (1 exist)
Any ideas will be greatly appreciated.
The reason that I am asking these questions is because a small town that I grow up near is about to experience significant population growth over the next 20 years. This is a very rural area. It is estimated that about 10,000 new jobs will be created. I have put some estimates below to help understand the local area.
GROWTH PROJECTIONS:
*****************************************
Current
*****************************************
Population (City): 1000 people
Pop.: Surrounding Area: 8000 people
Blue-Collar Income: $8.50 to $15 per hour
White-Collar Income: $12 to $20 per hour
Median House Income: $29,000
Land Cost: $1100 - $1300 per acre
Restaurants 25
Hotel Rooms 1200
Apartments Units 10
*****************************************
Future
*****************************************
Population (City): 2,000 (due to new jobs)
Pop.: Surrounding Area: 30,000 people
Blue-Collar Income: $12 to $25 per hour
White-Collar Income: $18 to $30 per hour
Median House Income: $40,000
Land Cost: $2100 - $4500 per acre
Restaurants 50
Hotel Rooms 2400
Apartments Units 100
LOCAL AREA:
This area is a small town and has less than 1000 residents. 8000 residents live in surrounding small towns. These small towns are generally less than 20 miles apart. So, the total population of all the small towns is about 9,000 within a 30 radius. With 10,000 jobs expected to come to the area, the population is expected to double. Most of the jobs are expected to be blue-collar jobs such as truck drivers, freight-handlers, dock workers, and warehouse managers. Most of the jobs will be within office parks and industrial parks. Most of the people in this area live in houses or trailers on their own land. Apartments and condos are not very popular to the locals.
This town is located near a big lake and major interstates. It has tried to position itself as a vacation destination over the years but this has not created the desired growth. So, the focus is now on light manufacturing, logistics, and transportation.
BUSINESS IDEAS:
I have recommended the following business ideas to help some of the local people in anticipation of the population growth.
Small Apartments (20 units are less)
Small Self Storage (most people build additional storage in their backyard)
Home Builder (several local companies exist but more will be need to handle the growth)
Daycare Center (none exist in town)
Lawn Service
Janitorial/Cleaning Service
Mechanic Shop (no diesel shops exist)
Small Mall (1 exist but struggling to survive)
Shopping Center (1 exist and 100% occupied)
Banquet Facility (1 exist and 1 is being built)
Truck Stop (none exist near expected warehouse location)
Trailer Park (none exist)
Car Wash (1 exist)
Any ideas will be greatly appreciated.
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