|What is a Public Market?||
PUBLIC MARKET DEVELOPMENT.COMAll Content © by Aaron Pohl-Zaretsky (828) 645-9291, firstname.lastname@example.org
Public Market, Morogoro, Tanzania
A Public Market is a year-round, carefully crafted, intentional and diverse medley of owner-operated shops, stalls and/or "daytables".
Public Markets exist to fulfill a public purpose and to reflect what is distinctive about a community while serving its everyday shopping needs.
Public Markets typically focus on the sale of a full array of fresh, value added, and prepared foods, and often, crafts. They are sometimes rounded out by a variety of needed neighborhood businesses. They typically include a seasonal, outdoor farmers market component.
Public Markets prohibit chain stores and franchises. They focus on businesses that are locally owned and operated which highlight the best of local foods, crafts, music, heritage and culture.
They showcase a community's unique character while meeting its everyday shopping needs.
Typically, Public Markets are owned and operated by public or non-profit entities. They exist for multiple public purposes, such as a small business incubator, tourist attraction, job creator, access to fresh food, increase surrounding property values, historic preservation, etc.
Public Markets are powerful economic engines. They create entrepreneurial opportunities for citizens and immigrants who often find it difficult to enter into the mainstream economy.
Public Markets are potent job creators. The federal Office of Technological Assessment (O.T.A.), in an audit of a $6,000,000 federal grant award to Seattle's Pike Place Market from the Economic Development Administration (E.D.A.) concluded that the Public Market renovation was the most successful community economic development project in the history of the U.S., at turning one time capital support, into long term, permanent, well paying jobs.
Public Markets are proven generators of surrounding, privately financed economic development. Historically, for example, at the Pike Place Market in Seattle, each dollar invested in Public Market renovation or development has generated more than twenty dollars in surrounding privately funded economic development. The neighborhood around Pike Place Market has been transformed from a skid road of derelict SROs, warehouses and vacant buildings into one of the most vital, attractive, and successful, downtown communities in the country.
Similarly, the redevelopment of the Public Market in Roanoke, VA, has transformed a downtown known for crime, prostitution, and drug dealing into a successful downtown with several new surrounding bank towers and the successful renovation of the Roanoke Hotel (which had stood empty for decades) as a Convention Center.
Public Markets often incorporate a seasonal farmers market for the sale of "in season", fresh, and value-added farm products sold on tables rented by the day. These tables are frequently augmented with locally made crafts.
Public Markets encourage diverse vendors that reflect the ethnic make up of their communities. A mix of experienced vendors and start ups is encouraged. Typically, training in display, marketing, etc. is provided to help new businesses prosper.
Public Markets require initial capital grant assistance. Once through their start-up period (typically about 3 years) they should be self supporting and should not require ongoing operational support.
In addition to stand alone Public Market buildings such as Philadelphia's Redding Terminal Market, other Public Market forms include Public Market Districts that incorporate the above purposes and uses through zoning or other regulations in a larger, multi-building, defined area. Pike Place Market is an example of a Public Market District. It contains 11 acres and is carefully regulated to assure compatible uses in its fifteen mixed use buildings.