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E-mail This StoryWhile the thrill of the hunt, hard-fought competition and the mad dash at the end usually describe sporting events, with the approach of Black Friday after Thanksgiving, the phrases seem to fit shoppers around the nation.
Even with an economy that cannot seem to find a bottom, shoppers and city officials are hopeful that the holiday shopping season will be less Grinch-like.
With the growth of two large shopping areas n Watters Creek at Montgomery Farms and the Village at Allen n big numbers this weekend would be beneficial to everyone in Allen. For anything, the increase in what the city is able to receive in sales tax will help lessen the burden on taxes homeowners pay, Mayor Stephen Terrell said. He attributes the retail growth to the number of young families that have moved into the area.
“The young families show we are still growing and we are still a popular city,” Terrell said. “Our schools are great, and it shows the economics are starting to be there with the growth of retail.”
The retail growth is what is exciting many of the Allen residents. For years they would travel to bordering cities or down to Dallas to do their shopping. Now they can stay home and have shopping, entertainment and restaurants nearby.
“I think it is fantastic. We are the classic Allen family n for the past several years we have driven south of here to eat and shop,” said Allen resident Susanne Miller. “It is nice to have something here now.”
In the last year a bevy of retail options have opened up in Allen. From the large-scale electronic stores like Best Buy, that opened in October in the Village at Allen, to the smaller specialty shops in Watters Creek.
Even though the October saw the nationally Consumer Price Index drop a point, further indication of the stalling economy, the Dallas/Ft. Worth area saw a rise in the index for October.
“We are probably going against the grain here in Allen,” said Allen Economic Development Corporation Executive Director Robert Winningham.
While most of the nation seems to be scaling back on retail expansion, Allen has expanded its retail sectors. He said retail sales have been a bit off per household, there ahs still be a net gain in sales from last year.
“We are not leaking dollars like we used to,” Winningham said. “There will still be some leakage, but by-in-large we have reduced it by adding the big and small retail stores.”
Winnigham said the citizens and businesses have learned from the economic downturn the area faced in the 80s. Most of business during the decade had something to do with oil, and when the economy went south with the oil companies so did much of Allen. He said Allen is better insulated from the current crisis because there is a large amount of diversity to the businesses of Allen.
He said they won’t have a good indication as to how Allen is doing until the end of the first quarter next year. But, with a strong holiday season, especially with a good size crowd shopping in Allen on Black Friday, could easily have a roll over effect for next year.
