The Port Washington Business Improvement District (the “Port Washington BID”) supports new business development within the Port Washington business district (the “District”).
Downtowns matter. As cultural and social hubs, they attract residents, workers, and tourists alike, and often provide the space for community gatherings, events, and celebrations, thereby fostering a sense of local pride and shared identity. In keeping with this, they play a vital role in economic development by serving as the commercial heart to a community. They generate revenue and enhance employment opportunities, facilitate community-building, expand the local tax base, and improve the overall quality of life for residents, workers, and visitors alike.
However, in recent times, downtowns in general have (and Port Washington’s specifically has) faced many challenges, including store and office vacancies, slowed business activity, and more. This can attract crime and vandalism, which further diminishes the vibrancy and attractiveness of the community. It is, therefore, critical to explore opportunities and take action to prevent this impact.
In response, the Port Washington BID was created at the initiative of the Town of North Hempstead to help improve the community’s business climate through efforts designed to promote a vibrant, secure, clean, comfortable, and walkable downtown through healthy commerce, a sense of place with comfortable gathering locations, improved access and mobility, and more.
New business development is a necessary partner in these efforts. It serves as the engine for economic growth and community building, by attracting additional businesses, entrepreneurs and investors to the downtown area. This creates job opportunities, boosts tax revenue, and stimulates local spending, which can lead to increased property values, additional investment, and improved profitability for local businesses. Further, new business development encourages the revitalization and reuse of neglected and/or vacant properties, improves curb appeal by way of rehabilitated properties, and generally stimulates the local economy and the overall attractiveness of the area.
Accordingly, the positive impact of new business development works in synergy with the efforts of the Port Washington BID to effect a stronger, safer, and more robust downtown and local business community, which benefits the Port Washington community as a whole.