Economic Impact Dashboard

MARKET OVERVIEW Q3 2024

To gain an understanding of the current business environment and market potential in Downtown Tempe, statistics are collected and analyzed in the retail, residential, and hotel markets on a quarterly basis. In addition, an inventory of all street-level establishments in the downtown district was conducted the week of October 7, 2024.

Retail

There are 172 street-level retail businesses currently downtown. 6 new businesses opened and 5 businesses closed between July - September 2024. Dining remains the dominate retail category with 71 food establishments or 41% of total businesses. 41, or 58% of the dining establishments are independently owned and offer a broad spectrum of cuisine. 8% of businesses are in the nightlife category, and 5% are in the hotel category bringing a total hospitality category to 71%.

116 or 67% of the downtown street-level businesses are considered local & independently owned.
23% are BIPOC-owned businesses
22% are female-owned businesses
There are 25 current street-level vacancies.