The Town of Blacksburg Seeks Input on the Development of a New Retail Cooperative and Incubator Program
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The Town of Blacksburg recognizes that a thriving retail and small business sector is critically important to our local economy. Although there is demand for office space and other non-retail uses, the Town desires to create a vibrant retail sector that improves the quality of life and diversity of experiences for visitors and residents alike. As a small college town, Blacksburg has a ready market of potential retail customers, including students, parents, alumni, visitors, and local community members. To enhance the downtown experience and increase foot traffic, the Town has already undertaken significant improvements to streetscapes and civic spaces. The envisioned next step in our downtown revitalization efforts is the development of a retail cooperative and incubator program to help spur growth in our small business retail sector and provide more opportunities for civic activity.
Why a Retail Cooperative and Small Business Incubator program?
Launching a retail business in a downtown storefront is a capital- and knowledge-intensive endeavor. Retail cooperatives provide space for a number of businesses under one roof with flexible leases, while incubator programs accelerate the development of successful retail businesses by providing low-cost space, exposure to mentors and consultants, technical support services, supportive marketing and events, and access to capital during the early years of the business. The Town believes that providing physical retail space at a low cost and an array of business support resources and services could help ‘level the playing field’ for those interested in starting or growing a retail business.
The Vision
414, North Main St., Formerly 'Cooks Cleaners'In 2019, the Town of Blacksburg acquired the former Cook’s Cleaners building and is currently working to remediate, rehab, and revitalize the 5,000 sq. ft. space for use as a retail cooperative and incubator. The building is in a prime location - the heart of downtown Blacksburg. Downtown Blacksburg, Inc. (DBI), our local merchant, marketing, and economic development organization, will be physically located in the building and will be responsible for managing the retail incubator program. DBI will also organize local events to increase traffic to retail businesses, work with local economic development partners like the Montgomery County Chamber of Commerce, the Blacksburg Partnership, and the Small Business Development Center to meet the technical assistance needs of incubator participants, and help participants access capital through their relationships with local financial institutions. The Town will provide participants and DBI with subsidized/reduced rent, favorable lease terms, building insurance, and common space for shared IT services, events, and promotions. The Town plans to complete building renovations by the end of 2026.
Provide your Input!
To help inform both the design of the physical space and the incubator program, The Town and DBI are looking for feedback from prospective and existing small business owners regarding their start-up and/or business development needs in the survey below. This input will help the project steering team ensure that the physical space and program are designed to meet those needs. Citizens can also ask questions about the project and share ideas for the types of businesses they would like to see in the space. Please help us share this engagement opportunity with anyone you think might be interested!
The Town of Blacksburg recognizes that a thriving retail and small business sector is critically important to our local economy. Although there is demand for office space and other non-retail uses, the Town desires to create a vibrant retail sector that improves the quality of life and diversity of experiences for visitors and residents alike. As a small college town, Blacksburg has a ready market of potential retail customers, including students, parents, alumni, visitors, and local community members. To enhance the downtown experience and increase foot traffic, the Town has already undertaken significant improvements to streetscapes and civic spaces. The envisioned next step in our downtown revitalization efforts is the development of a retail cooperative and incubator program to help spur growth in our small business retail sector and provide more opportunities for civic activity.
Why a Retail Cooperative and Small Business Incubator program?
Launching a retail business in a downtown storefront is a capital- and knowledge-intensive endeavor. Retail cooperatives provide space for a number of businesses under one roof with flexible leases, while incubator programs accelerate the development of successful retail businesses by providing low-cost space, exposure to mentors and consultants, technical support services, supportive marketing and events, and access to capital during the early years of the business. The Town believes that providing physical retail space at a low cost and an array of business support resources and services could help ‘level the playing field’ for those interested in starting or growing a retail business.
The Vision
414, North Main St., Formerly 'Cooks Cleaners'In 2019, the Town of Blacksburg acquired the former Cook’s Cleaners building and is currently working to remediate, rehab, and revitalize the 5,000 sq. ft. space for use as a retail cooperative and incubator. The building is in a prime location - the heart of downtown Blacksburg. Downtown Blacksburg, Inc. (DBI), our local merchant, marketing, and economic development organization, will be physically located in the building and will be responsible for managing the retail incubator program. DBI will also organize local events to increase traffic to retail businesses, work with local economic development partners like the Montgomery County Chamber of Commerce, the Blacksburg Partnership, and the Small Business Development Center to meet the technical assistance needs of incubator participants, and help participants access capital through their relationships with local financial institutions. The Town will provide participants and DBI with subsidized/reduced rent, favorable lease terms, building insurance, and common space for shared IT services, events, and promotions. The Town plans to complete building renovations by the end of 2026.
Provide your Input!
To help inform both the design of the physical space and the incubator program, The Town and DBI are looking for feedback from prospective and existing small business owners regarding their start-up and/or business development needs in the survey below. This input will help the project steering team ensure that the physical space and program are designed to meet those needs. Citizens can also ask questions about the project and share ideas for the types of businesses they would like to see in the space. Please help us share this engagement opportunity with anyone you think might be interested!
The Town of Blacksburg Seeks Input on the Development of a New Retail Cooperative and Incubator Program has finished this stage
Identify what infrastructure and resources new and existing small retailers need to be successful.
Operating Structure, Partner Roles: Oct-Dec 2023
The Town of Blacksburg Seeks Input on the Development of a New Retail Cooperative and Incubator Program is currently at this stage
Define partner roles and responsibilities for the ongoing management of 414 N. Main St. based on needs assessment data. Develop and launch Request for Proposals for architectural design and rehabilitation of 414 N. Main St.
Implementation and Business Recruitment: 2024-2026
this is an upcoming stage for The Town of Blacksburg Seeks Input on the Development of a New Retail Cooperative and Incubator Program
Develop lease terms and fee structure, business plan, and policies, build a network of support professionals, and begin retail recruitment.
Property Rehab: 2024- July 2026
this is an upcoming stage for The Town of Blacksburg Seeks Input on the Development of a New Retail Cooperative and Incubator Program
Select preferred team and implement design, construction and rehab of 414 N. Main St.
Initial Conceptual Designs for the Retail Incubator Space
The Town of Blacksburg recognizes that a thriving retail and small business sector is critically important to our local economy. Although there is demand for office space and other non-retail uses, the Town desires to create a vibrant retail sector that improves the quality of life and diversity of experiences for visitors and residents alike. As a small college town, Blacksburg has a ready market of potential retail customers, including students, parents, alumni, visitors, and local community members. To enhance the downtown experience and increase foot traffic, the Town has already undertaken significant improvements to streetscapes and civic spaces. The envisioned next step in our downtown revitalization efforts is the development of a retail cooperative and incubator program to help spur growth in our small business retail sector and provide more opportunities for civic activity.
414, North Main St., Formerly 'Cooks Cleaners'In 2019, the Town of Blacksburg acquired the former Cook’s Cleaners building and is currently working to remediate, rehab, and revitalize the 5,000 sq. ft. space for use as a retail cooperative and incubator. The building is in a prime location - the heart of downtown Blacksburg. Downtown Blacksburg, Inc. (DBI), our local merchant, marketing, and economic development organization, will be physically located in the building and will be responsible for managing the retail incubator program. DBI will also organize local events to increase traffic to retail businesses, work with local economic development partners like the Montgomery County Chamber of Commerce, the Blacksburg Partnership, and the Small Business Development Center to meet the technical assistance needs of incubator participants, and help participants access capital through their relationships with local financial institutions. The Town will provide participants and DBI with subsidized/reduced rent, favorable lease terms, building insurance, and common space for shared IT services, events, and promotions. The Town plans to complete building renovations by the end of 2026.
