The results of the city’s Retail Strategy and Recruitment Plan was presented Tuesday to Georgetown City Council by consultant Jason Claunch, president of Dallas-based Catalyst Commercial. Claunch spent the past six months compiling the plan, which includes a market assessment; market, competitive and property analyses; potential tenant identification; and a merchandising plan as well as a delineation of the city’s primary trade area, with the help of city planning and economic development staff members. Here’s what you need to know:

1. Georgetown's primary trade area includes portions of north Round Rock.

The plan’s market assessment includes information about Georgetown, including major employers, median income, traffic counts and major retail areas, as well as defines the city’s primary trade area, which is the region from which most of Georgetown’s shoppers originate. The primary trade area stretches from just north of Jarrell to just south of Hwy. 79 in Round Rock and from Liberty Hill to nearly Hutto. Claunch said he was surprised to see how far the trade area went into Round Rock. “It’s not surprising [Georgetown brings people in] from the north, east and west, but it just surprised [us] about how much of Round Rock, North Austin and Cedar Park is [in the primary trade area],” he said.

2. The trade area has a median household income higher than the city of Austin.

Georgetown’s primary trade area has a population of 134,031 people with a median household income of $78,988, both of which Claunch said are a great draw for retailers. “Once you hit the 100-125,000 population benchmark it opens up to a larger audience of retailers,” he said. “Population and income are always dominant drivers [for retail], and so we recognize those are important factors to consider.” Homeownership in Georgetown is also 15 percent higher than the 50 percent average in Texas, which has led to higher spending on home goods and home improvement in Georgetown than the rest of the region, Claunch said. The projected population growth is also great for retail recruitment, he said. “The population in Georgetown is phenomenal. You’re looking at a growth rate of 40 percent since 2010 projected through 2020,” Claunch told the council. “This is an important factor as you look at capacity not only today but going forward into the future.” Claunch said based on that population growth, the city could add about 62,000 square feet of retail—roughly the size of a grocery store—each year.

3. The city could support 1 million additional square feet of retail.

About two-thirds of Georgetown residents’ money is spent in Georgetown, Claunch said, which means about one-third is spent out of town. The amount of money leaving the community because of unmet demand is known as retail leakage. According to the analysis, the city could support an additional more than 1 million square feet of retail than is available today, and another 2.4 million by 2046, with department stores, grocery stores, restaurants and general merchandisers making up the majority of the retail leakage. “We recognized that there are three [grocery stores] that have secured locations and have plans to build so that category would likely be absorbed by those projects,” he said.

4. The city plans to target retailers and work with retail developers for recruitment efforts.

The plan identified a list of potential retailers, including specialty food stores, specialty retailers, sporting goods, book stores, department stores and full-service restaurants, that Georgetown Economic Development Director Michaela Dollar said the city will target for recruitment efforts during the next few years. “We will be working with [Claunch] for the next two years to implement this strategy … monitor the [retail] pipeline and measure results,” she said. Dollar said the city will also attend trade shows and develop relationships with brokers, site locators and developers to recruit businesses to the city as well as increase its retail retention efforts. Along with possible retailers, the plan outlines what types of uses could be best for future development sites, such as Longhorn Junction at I-35 and SE Inner Loop, Wolf Lakes at I-35 and Hwy. 29, and Pecan Branch at Lakeway Drive and I-35.