The Pine City Economic Development Authority and City of Pine City recently engaged the University of Minnesota Extension service to work on the update to the Market Area Profile for Pine City. Extension staff will be in Pine City on Wednesday, July 25th at 8:30 AM to provide a presentation on the MAP during the regular EDA monthly meeting.
University of Minnesota Extension created the Market Area Profile (MAP) program to assist Minnesota communities in developing their retail and service sectors. The purpose of this report is to provide existing businesses, potential businesses, and economic development organizations with information that will better serve their individual market and business strategies.
Extension staff created this report through secondary data and an analysis compiled through Business Analyst, a Geographic Information System (GIS) software program from Esri (www.Esri.com), along with the U.S. Census. Esri synthesizes national market research data every year from almost 26,000 adult consumers through in-home, face-to-face interviews about their media choices, demographics, lifestyles and attitudes, and usage of almost 6,000 products in 550 categories. Since the major customer for these data are national brands, information is not collected for independent business categories, such as antique stores, attorneys, dental offices, etc.