The Lake Street corridor is 5-miles stretching west to east from Lake Calhoun to the Mississippi River 30 blocks south of the center of downtown Minneapolis. During the period between 2005 and 2008, three quarters of the street has been under reconstruction. This project and report had two primary goals: First, to present a summary of the changes in two major economic indicators between 2004 and 2006 for the Lake Street Corridor, the number of businesses and the level of sales tax. Second, to identify the impact being in a construction zone may have had on these indicators. When compared to other sections of the corridor, blocks that went under construction tended to show negative growth of rates in the number of businesses. Even though these results are not statistically significant, they provide objective evidence that the construction project may have been one of the factors affecting the economic performance of the corridor.
Conducted on behalf of Lake Street Council. Supported by Neighborhood Partnerships for Community Research (NPCR), a program of the Center for Urban and Regional Affairs (CURA), University of Minnesota.
Economic Indicators of the Lake Street Corridor.
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