Business Revenue in Columbia’s Downtown Business Improvement District Continues to Increase

COLUMBIA, SC – May 1, 2008 – City Center Partnership announced today that business revenues in the Business Improvement District (BID) continue to increase.  Gross revenues for 2003 were $630,215,297 and increased to $844,973,384 in 2007.  This substantial increase is just under $215 million over the past four years. 

“We remain very positive about Columbia’s City Center and the businesses located in the Business Improvement District,” said Jim Gambrell, director of economic development for the City of Columbia.  “We are, of course, disappointed that Lourie’s is closing; at the same time, we remain optimistic about the future of downtown and the businesses located here.  Revenues, reflecting economic health in the BID, have steadily grown over the past several years.  The nearly 10% annual growth we’ve seen over the past four years indicates a strong and growing business community that provides good paying jobs for the people who live in Columbia.”

Matt Kennell, president & CEO of City Center Partnership remains very optimistic as well.  “This year we hired Amy Stone, who is focusing on recruiting more retailers to downtown.  In addition to the retail aspect, private investment in the downtown area has risen exponentially in the last few years,” said Kennell.  “Look at the renovation of the Barringer building and the construction of the Meridian building.  The new First Citizens building alone represents a $50 million investment in South Carolina.  These businesses generate much needed revenue for Richland School District One and basic city and county operations, while requiring fewer city services.”  

About City Center Partnership

City Center Partnership, Inc. (CCP) is a non-profit organization that manages South Carolina’s first managed Business Improvement District in the 36-block area bounded by Gervais, Elmwood, Assembly, and Marion streets in downtown Columbia.