Gwinnett Place’s Total Economic Impact Increases to $13.4 Billion
With an area of influence that is less than 1% of Gwinnett County’s land area,
Gwinnett Place continues to play a significant role in Gwinnett County and Georgia’s overall economies
Duluth, GA ‐ November 19, 2020 – As the premier employment and activity center for Gwinnett County, the Gwinnett Place Community Improvement District (GPCID) announced today that the Gwinnett Place area had an annual economic impact of $13.4 billion in 2019 on the County and the state of Georgia, which is a 41% increase from $9.5 billion measured in 2017 in a report prepared for GPCID by the Bleakly Advisory Group.
“We were excited to work on the economic impact analysis for Gwinnett Place because it’s an area that needs to be recognized for its success,” said Geoff Koski, president – Bleakly Advisory Group. “When we were asked to conduct the study, we knew it would present challenges based on the changing nature of the district but were delighted to show a more than 40% increase in economic impact. This means the district is growing and producing incredible impact despite Gwinnett Place Mall – a large, primarily vacant property that continues to lose value each year. The impact would be even greater if properties like Gwinnett Place Mall were redeveloped,” he added.
The full report includes statistics about demographics and population, area employment, economic activity, education, real estate and more.
In 2019, Gwinnett Place had 27,904 jobs in 2,841 companies that had a total $1.4 billion annual payroll. Gwinnett Place is also home to 8% of all Gwinnett County jobs, including 27% of all management jobs and 8% of all tech/science jobs in Gwinnett County.
Greater Gwinnett Place is also home to a diverse population with a higher presence of millennials and Gen Xers than in Gwinnett County, and nearly 100,000 people who live within three miles of the area.
Gwinnett Place’s retail influence can also be felt countywide. The area has 8.4 million square feet of retail space, which equates to 14% of Gwinnett County’s total retail space and generates $1.5 billion in total retail sales with an estimated $118 million coming from food and beverages each year. In addition, 16% of the County’s auto sales occur in Gwinnett Place. Last year, the area produced $208 million in public revenues.
The Bleakly report went into greater detail about the Gwinnett Place Mall showing that the property, along with its five constituent anchor stores, lost 82% of its collective appraised tax value over a 20-year period, falling from $167 million appraised value in 1999 to just $29.7 million in 2019.
“Imagine the economic impact possibilities once redevelopment finally begins to occur in this area. I believe the best is yet to come for Gwinnett Place,” says Joe Allen, executive director – Gwinnett Place CID. “By enhancing our partnership with the incoming Gwinnett County leadership team and the private sector commercial property owners who formed the GPCID, we remain committed to our vision for an internationally diverse, livable urban community in the strategic heart of Gwinnett. The CID is ready for bold action. With a renewed investment in and commitment to Gwinnett’s central business district at Gwinnett Place, I believe we can overcome any challenges and have a substantial immediate economic impact. Working together, we can lift the trajectory of this area and all Gwinnett County for generations to come.”
The CID released another report prepared by the Urban Land Institute’s (ULI) Center for Leadership which identified strategies for repositioning and redeveloping the Gwinnett Place Mall. Click here to read the September 2020 final report that summarizes the results of their research and their recommendations for achieving the community’s redevelopment goals.
About Gwinnett Place CID
The Gwinnett Place Community Improvement District was founded in 2005 and its mission is to enhance the economic vitality of Gwinnett’s central business district by strengthening the area’s role as the center of commercial activity. With its proximity to the world-class Arena at Gwinnett Center venue and the Interstate 85 and Georgia Highway 316 corridors, Gwinnett Place serves as the gateway to the Atlanta region and all of Northeast Georgia. Annually, more than 8 million visitors come to Gwinnett Place seeking unique shopping experiences, an international mix of dining options and a wide array of entertainment venues. For more information, please visit the website, or connect via Facebook, Twitter, LinkedIn or Instagram.
Maggie McDaniel, on behalf of GPCID