Middle Township’s Economic Development Council will be hosting a business roundtable discussion at its monthly public meeting this Tuesday, May 1st at 6 p.m at Township Hall, 2 S. Boyd Street, Cape May Court House.
Middle Township has a strong economy; much of it stems from its seasonal base. The Township’s population is estimated at 18,632 – an increase of more than 2,000 residents in the past 18 years. Median household income is $65,224 and disposable household income is estimated at $46,734.
There are 1,226 employers in Middle Township, representing all sectors of the economy. The great majority of these businesses (40%) are in the services sector with another 20% in retail trade. In total, these employers provide almost 17,000 jobs – many more than needed to accommodate the Township’s labor force.
Nonetheless, Township officials would like to attract additional firms and new employers to the community. This Business Roundtable is to begin identifying the issues that may help define the marketing approach that is best for the Township.
The discussion will center on several key questions, listed below. The Township also wants to hear about initiatives that the Township might take that will enhance its market potential. We want to consider both business attraction as well as those initiatives that will help us retain and expand our existing business base.
1. To what extent is your business seasonal?
a.) If it is seasonal, in what month do you see the most significant surge in sales, and conversely, when do you see the most significant downturn?
b.) What percentage of your total business sales do you attribute to seasonal activity?
c.) If your business is not seasonal, how do you explain that?
2. Does most of your business come from local patrons, meaning those that live in the area full time, or from transient or seasonal customers?
3. If you had to identify a business or a business sector that seems to be missing in the local economy or that you feel is underrepresented, what would it be?
4. Are there businesses that you would like to see in the Township that could help your business grow and expand?
5. If your business is part of a national or regional chain, do you know how your business performs relative to the other stores/businesses in the chain?
6. What is the typical market area for your business? “My customers typically come from:”
a.) Within 15 minutes of my business
b.) Within 30 minutes of my business
c.) From beyond 30 minutes
7. Which of the following is the most productive venue for marketing your business?
a.) Newspaper or Print Advertising
b.) Word of Mouth
c.) Internet/On-line Ads
d.) Social Media (Facebook, Twitter, etc.)
g.) Our Location
8. What is the biggest obstacle that you see to attracting new businesses to Middle Township or keeping our existing business base?
9. Is population growth in the Township a critical factor in your ability to expand your business and increase sales?
10. Are there other factors or issues involving business development in Middle Township that you would like to discuss?
11. What is your perspective of the regulatory environment in Middle Township?
12. How would you rate your point of contact and customer service in the Township?
For additional information please contact Elizabeth Terenik, Business Administrator (609) 465-8732 or firstname.lastname@example.org