Cheyenne Downtown Development Authority saw business growth in 2021
CHEYENNE, Wyo. (Wyoming News Now) - The Cheyenne Downtown Development Authority (DDA) is reflecting positively on the tenacity displayed throughout 2021, reporting growth in small businesses.
“It’s just been so cool to see the kind of momentum that downtown has really experienced over the past year of our community really coming together when Covid hit and shifting their emphasis to shopping local and supporting small business,” said Haylee Chenchar, Managing Director and Vice President of the DDA.
Forty-five new businesses opened in 2021, and ten had to close.
Chenchar said the community went above and beyond to support local businesses during an especially challenging year. The support was so overwhelming, in fact, that the DDA District reports a $3 million increase in revenue from the previous fiscal year. Chenchar said the district typically brings in $58-59 million, so the increase to $62 million was encouraging for them to see.
Among other victories, the DDA says the merger with Visit Cheyenne has opened new doors to opportunities.
“We are being able to impact our community, for our community, so much more on a united front than we were doing on our own, and I am just so grateful for that,” said Chenchar.
Chenchar said the DDA is partially funded by the mill levy tax that property owners pay. The DDA was able to use approximately 88 percent that was collected to re-invest into the downtown. The DDA launched 11 projects to improve businesses, signage and increase property values.
Twenty-seven new murals were added in 2021.
The Small Business Saturday campaign saw over 500 entries, and approximately $15,000 spent on purchases for entries, according to Chenchar, and some businesses even sold out of inventory.
The DDA said they are excited to see what changes are coming with the New Year.
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