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Old 08-08-2012, 02:32 AM
Location: Not where you ever lived
11,537 posts, read 29,753,937 times
Reputation: 6420


Central Illinois has 4 major areas: Peoria, B-N, Springfield, and Champaign with similar county population. So why doesn't major retailer XYZ come into this area?

Distance. 1-55 intersects with 1-74, I-57, and I-39/US 51. Springfield and Peoria are 80-90 miles from each other, Champaign or Decatur. Champaign is 40-45 from Bloomington or Decatur. Bloomington is 38 miles from Peoria, 62 miles from Springfield, and 40-45 from Champaign. Champaign is roughly 80 -90 miles from Springfield.

What is the largest contiguous aggregate population? McLean, Tazewell, and Peoria Counties have a total population of roughly 492,000. Tazewell borders both McLean and Peoria. The total college population is similar to Champaign but it is spread over four traditional colleges/universities, and does not take into account students who attend trade schools, nursing schools, or medical schools. There are also six hospitals and four mall type shopping areas.

Sangamon, Logan, McLean is 400,000 and the student population will be similar to P, T, M., with six hospitals and 3 malls,. but the driving distance to Bloomington is farther than Champaign or Peoria to Bloomington.

Champaign and McLean share a border. The population is roughly 375,000 with 3 hospitals and 3 malls. The real difference is the student population. When combined the two major universities manage roughly 55-60,000 students.

Distance is everything.

Unfortunately acquisition lawyers do not look at hospitals or malls or anything superfluous. They look at population and how many people are within 5 miles of their proposed location, as well median income. They look at owned businesses, as opposed to corporate owned stores, and if they are within the 5 miles. They also look at proposed locations inre: acreage with the projected number of parking spaces available, nearby business (type, size, number of employees), available transit, logistics including nearby major routes. And we cannot forget the long and sometimes fruitless negotiations between a city and the owners (of a proposed new business) and their attorneys. If it fits they build. It is a long process before meetings with the city begin or a contract is written.

As this information comes from an acquisition lawyer who works for a large national retail operation, I suspect other national companies do something similar.

Last edited by linicx; 08-08-2012 at 02:56 AM..
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