Frederick Facts

City Releases First Comprehensive Retail Report

The City of Frederick recently released "The City of Frederick Retail Report." The report was completed in April 2016 by a retail consultant and is the first comprehensive retail study to be completed by The City. It will assist the Department of Economic Development in identifying best practices and retail brands that are currently missing in Frederick. The report can be used as a valuable tool for both existing retailers in Frederick and for businesses considering the Frederick area.
Retail is an important community attribute for residents, businesses, and visitors alike. Retailers and restaurants contribute to Frederick's quality of life, tax base, and provide employment opportunities for residents. 

"Frederick is home to local and national brands canvassing the entire City, from the western edge of the Golden Mile, through Historic Downtown Frederick, and along the East Street Corridor," said Richard Griffin, Director of Economic Development for The City of Frederick.

Despite a strong existing demand for retail and restaurants in Frederick, opportunities remain to attract missing brands and to better understand changing trends in consumer habits.

The report contains relevant demographic, spending, and economic data and can be used by businesses seeking to prepare or update a business plan, for property owners seeking new tenants, and for existing retailers interested in learning more about the changing trends in the retail market.  

Download - The City of Frederick Retail Report - The Riddle Company (PDF)

Frederick Facts

Introducing Frederick Facts
The Department of Economic Development (DED) is introducing a new monthly feature: Frederick Facts. Frederick Facts will highlight interesting statistics and data points unique to Frederick's business community. This feature will cover a wide range of industries and topics, including retail, office, tourism, and more. A compilation of all Frederick Facts will reside on the DED blog.

By Bobby Baumler

April 2017

The number of minority-owned businesses in Frederick continue to grow and follow many national trends. According to the Minority Business Development Agency, the formation of minority-owned businesses continues to significantly outpace the formation of non minority-owned businesses. From 2007-2012, the number of minority-owned businesses increased 39% according to the Census Bureau.

March 2017

 The office market continues to improve in Downtown Frederick.  Over the last year, the vacancy rate has fallen from 9.0% to 7.8%, according to CoStar.  This has resulted in over 24,000 square feet of absorption as new technology and professional companies locate to Downtown Frederick.

January 2017

As Hood College students return to class this week, we are reminded that Frederick is well-positioned to retain future graduates. A survey of Hood students indicated at 60% of students "agreed" or "strongly agreed" that they would choose to live in The City of Frederick following graduation. Students interested in staying in Frederick can feel confident in their decision as GoodCall recently named Frederick as one of the 2017 Best Cities for New Grads (#43). The rankings considered factors including amenities, median salary, increased salary potential, and the availability of jobs.

December 2016

The bioscience industry employs over 2,700 people in Frederick County and created nearly 250 new jobs in 2015 according to Frederick County Workforce Services. The Department of Economic Development (DED) remains committed to supporting this industry as the biosciences afford family-supporting wages and career growth. Most recently, DED entered into a new partnership with BioBuzz Workforce Foundation Inc. to provide Frederick bioscience companies and their employees collaboration opportunities through the BioHive platform.

November 2016

According to ESRI,Frederick households spend over $3,500 a year on food purchases made outside of the home, including restaurants. Much of this spending is anticipated to occur during the holiday season with special occasions, including family gatherings and holiday parties. According to data from the National Retail Federation, over 17% of annual sales at food and beverage stores occurs during the holiday sales season.

October 2016

According to ESRI, the City of Frederick is home to nearly 100 manufacturers. This targeted industry for the City employs almost 2,000 individuals. As we celebrate Maryland Manufacturing Month, we are reminded that manufacturers provide family-supporting wages and career opportunities for the Frederick community. According to the Manufacturing Extension Partnership (MED), the annual average salary of a manufacturing worker in the United States is more than $77,000 a year. 

September 2016

Frederick County Public Schools recently released its Educational Partnerships report for the 2015-2016 school year. The report recognizes the more than 1,200 businesses and organizations that partner with the school system annually. Many of the City's largest employers provided funding and staff resources to support public education in Frederick County. 

August 2016

As Fredericktonians prepare for the start of a new school year, back to school shopping is a part of the tradition. According to the National Retail Federation, spending for the 2016 back to school season will reach nearly $76 billion, including spending for both K-12 and college students. This equates to K-12 families spending approximately $675 on their children and college families spending approximately $890. The same survey evaluated where shoppers plan to visit. The research indicated that over 60% of consumers plan to shop at a discount store, nearly 60% plan to shop at a department store, and nearly 40% plan to shop at an office supply store. With over 700 retailers located within The City of Frederick, residents will not need to travel far to check off each item on their back to school shopping list.

July 2016

Frederick's residential population continues to grow at a time when many small towns are experiencing a contraction in population. Today, the City is home to over 68,000 residents and this number is expected to grow at a rate of over 4% per year through 2020.
June 2016

Frederick's millennials account for 24% of the City's resident population. Over 40% of millennials in Frederick hold at least a bachelor's degree and over 65% hold professional jobs. 

May 2016

The Frederick retail market analysis compared Frederick's spending on Food purchases by category. Citywide, Frederick consumers spend more than the national average in every category, most notably spending 17% higher than the national average on alcoholic beverages and 10% more than average on overall food purchases.

 April 2016

The Golden Mile is Frederick's original retail corridor and is currently home to over 1.6 million square feet of retail space. Following the completion of the Golden Mile Gateway and Frederick Towne Center projects, the total retail along the Golden Mile will exceed 2.3 million square feet, or nearly half of the total retail space within The City of Frederick.

Frederick Towne Center Groundbreaking Signals Strong Retail Opportunities on The Golden Mile

A resurgence along Golden Mile is one step closer following the groundbreaking ceremony for the the Frederick Towne Center & Walmart Supercenter. The groundbreaking ceremony was held on Saturday, April 16, 2016 in front of the former Bon-Ton department store and was attended by over 50 residents, business owners, and elected officials. Speakers included Mayor Randy McClement, Economic Development Director Richard Griffin, Golden Mile Alliance President Justin Kiska, Golden Mile Alliance Board Member and attorney Dave Severn, and Adam Greenberg, representing DLC Management.

Mayor McClement delivering remarks on the City's commitment to the Golden Mile. 
Redevelopment of the former Frederick Towne Mall will include retail space opportunities for up to 16 new retail and restaurant businesses. This 500,000 square foot redevelopment project will be anchored by a Walmart Supercenter alongside the existing Boscov's department store and Home Depot. Additional details on the project, including a site plan for the project, are available on DLC Management's website.

Additional investment along the Golden Mile is either underway or in the planning stages.  Construction has started for a new Wawa fueling station at the former Maryland State Police Barracks. Planned residential along the Golden Mile includes the redevelopment of the former VFW (West Park Village) and the development of Summers Farm. For a complete recap and project links, review the recap from the Golden Mile Alliance's recent Development Showcase.

To learn more about The Golden Mile and to get involved, visit the Golden Mile Alliance's website.
The Golden Mile is Frederick's original retail corridor and is currently home to over 1.6 million square feet of retail space. Following the completion of the Golden Mile Gateway and Frederick Towne Center projects, the total retail along the Golden Mile will exceed 2.3 million square feet, or nearly half of the total retail space within The City of Frederick.

For more information, facts, and demographics about the Golden Mile and other areas within The City of Frederick, review the newly released Frederick Retail Market report.