Downtown Carrboro responds to economy

Carrboro officials are making sure businesses don't stop coming to town.

They're taking informal measures to ensure continued business patronage in the midst of a slow economy.

""We're not actively recruiting business" but we make it known that this is a place where businesses can start and grow" said James Harris, community and economic development director for the town.

Efforts to encourage business come amid fears that the economic climate might prove a formidable opponent for the town's development hopes.

It is slowing the construction of the newly built business" Harris said.

UNC economics professor Ralph Byrns said hard times might leave the town with few options.

I'm extremely skeptical that they can do much he said. If they view business as a primary source of revenue" they might change taxes that would discourage businesses from locating or staying downtown.""

Byrns said the town could also reduce regulations that might scare away companies.

""I could see maybe subsidizing new businesses" but they have to watch out because they could shift higher tax burdens on other businesses" he said.

But some business owners say Carrboro is already a great place to set up shop.

Robert Irwin, manager of Townsend, Bertram & Company, an outdoor gear store in downtown Carrboro, said business couldn't be any better.

It's up from last year actually"" Irwin said. Irwin attributes the store's great downtown location to part of their success. He knows, though, that other businesses aren't as lucky.

I know that sales are down in a lot of places"" he said. I have heard rumors.""

Carrboro officials are hoping that testimonials like Irwin's encourage local businesses to flock the downtown area.

The town is emphasizing long-standing incentives designed to promote local business growth as well as a project encouraging local shopping.

Carrboro's 22-year-old revolving loan fund has funded nearly 30 businesses" including Weaver Street Market" Harris said.

""There are so many resources that are available to the business community"" he said.

The building vacancy rate in Carrboro is only about 4 percent, and new businesses are planning to move in as soon as the economic tide turns, Harris said.

There are a number of new proposed buildings planned and approved for Carrboro"" Harris said. They will not be built right away due to the downturn in the business climate.""

Many residents" like Irwin" remain optimistic.

""I think that people are quick to support a local business here"" Irwin said. We couldn't have a better spot.""



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