Albemarle Downtown Development keeps Main Street America accreditation
Published 3:58 pm Friday, May 5, 2023
Albemarle Downtown Development Corporation has once again been designated as an Accredited Main Street America program for meeting performance standards.
Each year, Main Street America and its partners announce the list of accredited programs to recognize their commitment to preservation-based economic development and community revitalization through the Main Street Approach.
“We’re proud of the continued growth and success happening in downtown Albemarle. We’re grateful to our state and national Main Street programs for their consistent guidance and support,” said Joy Almond, Albemarle Main Street manager/liaison for Albemarle Downtown Development Corporation. “The programs available through NC Main Street and Main Street America have been vital to the success of our community, and it is a privilege to once again be recognized as an accredited program.”
Albemarle Downtown Development Corporation’s performance is annually evaluated by NC Main Street, which works in partnership with Main Street America to identify the local programs that meet national performance standards. To quality for accreditation status, communities must meet a set of standards that include commitments to building grassroots revitalization programs, fostering strong public-private partnerships, nurturing economic opportunity for small businesses and entrepreneurs and actively preserving historic places, spaces and cultural assets. Albemarle has maintained its accreditation status for 30 years.
During the 2022-23 fiscal year, Albemarle Downtown Development Corporation reported a total of more than $17 million of combined public and private investment in the downtown’s Municipal Service District.
Job growth was reported at 10 new full-time and 22 part-time positions, plus a net gain of five new businesses.
“We are very proud to acknowledge this year’s 862 accredited Main Street America programs, and their steadfast dedication to nurture economically and culturally vibrant downtown districts,” said Hannah White, interim president and CEO of Main Street America. “The increase in the size and impact of our network speaks volumes to the power of the Main Street movement to respond to the needs of local communities and drive innovative solutions.”
In 2022, Main Street America programs generated $6.2 billion in local reinvestment, helped open 7,657 net new businesses, facilitated the creation of 29,174 net new jobs, catalyzed the rehabilitation of 10,688 historic buildings, and leveraged 1,528,535 volunteer hours. On average, for every dollar that a Main Street program spent to support their operations, it generated $24.07 of new investment back into their downtown communities.
Collectively, 2 million people live or work within the boundaries of designated Main Street America districts. An estimated workforce of 1.1 million people contributes their skills and expertise to advancing the missions of these historic downtowns and commercial corridors.