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Downtown Asheboro Inc. Announces Annual Statistics and Program Impact Report for Downtown Asheboro

Downtown Asheboro Inc. is proud to announce yet another exceptional year for downtown, spurred by community partnerships, public and private investment, and downtown stakeholders committed to paving a path forward for a better Asheboro. Each year, Downtown Asheboro Inc. tracks annual investments and statistics for the downtown area, showcasing the economic impact of investing locally.

Downtown Asheboro Inc. (DAI) is the program administrator of the North Carolina Main Street Program for the City of Asheboro and is dedicated to creating a vibrant downtown by promoting economic development through historic preservation. Since the organization’s inception in 2020, DAI has helped foster over $13 million in private investment in the downtown area, yielding a net gain of 11 businesses, 29 full-time jobs, and 31 part-time jobs.

In the 2022/2023 fiscal year, over $3.6 million of private investment was made to the downtown district, resulting in 3 complete building renovations, 5 façade improvements, and 3 net businesses created. The grand opening of the Church Street Lofts added 50 new residential units to the downtown footprint, increasing opportunities for community members to reside downtown. With 162 businesses operating in the downtown footprint, and a 3% commercial vacancy rate, demand for space downtown remains high. “Our organization is extremely pleased with the continued growth downtown is experiencing. This is truly a collaborative effort, and without partnerships with local merchants, property owners, institutional partners, including Asheboro City Council and staff, residents, and community stakeholders, we wouldn’t be experiencing the success we see.” said Addie Corder, Executive Director of DAI.

DAI has been designated as a 2023 Accredited Main Street America™ program for meeting rigorous performance standards. Downtown Asheboro Inc.’s performance is annually evaluated by North Carolina Main Street, which works in partnership with Main Street America to identify the local programs that meet national performance standards. To quality for Accreditation status, communities must meet a set of standards that include commitments to building grassroots revitalization programs, fostering strong public-private partnerships, nurturing economic opportunity for small businesses and entrepreneurs, and actively preserving historic places, spaces, and cultural assets.

Looking ahead, Corder said there are several new businesses that will soon be opening, bringing exciting new opportunities for visitors of all ages to enjoy. She added that DAI will be working on capital improvement projects including the Acme McCrary Preservation Project, as well as continuing work on the Trade Street Streetscape Project. Corder said the organization also hopes to provide more technical assistance for business and property owners to thrive in the district. Promotional efforts will include preparing for the Summer 2024 Concert Series, as well as setting a downtown promotional schedule in partnership with merchants, encouraging residents and visitors to come downtown and enjoy the district all year long.

View the full report below:

DAI Annual Report (6)
Download PDF • 3.90MB

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