Downtown Adds New Businesses, New Jobs

Clayton's downtown enjoyed a gain of eight new businesses and 19 new jobs over the last year, according to a report from the Downtown Development Association (DDA).

Private investment in the downtown area, including property purchases and improvements totaled nearly a million dollars over the last year, and public investment totaled more than $1.1 million, including $875,000 in repairs and improvements to Second, Barbour and Church streets by the Town of Clayton.

Only four downtown businesses closed over the last year, and three of those were due to personal circumstances, the report said, which is the fewest since the DDA began keeping track in 2005.

"The numbers show, again, that downtown Clayton has a reasonably stable business environment," said Downtown Development Coordinator Bruce Naegelen.

During the last year, two downtown buildings were renovated, three made facade improvements and one business expanded, according to the report.

"There has been less private investment this year than in the past, but the cumulative investment ratio still shows over the past four years that for every public dollar spent, $5.50 in private investment is made in downtown," said Leslie Hubbard, chair of the DDA's Economic Restructuring Committee.

DDA Chair Ed Knight praised the Town of Clayton for its ongoing investment in downtown, especially the new "Downtown Plaza" under construction at the corner of Lombard and Main Streets and the new Law Enforcement Center which should be under construction soon.

The DDA keeps track of downtown statistics each year as one measurement of economic development. These statistics are also provided to the NC Main Street Center to help provide a picture of downtown development statewide.