What does a community need, and what can its market support? Financial institutions, regulators, community development financial institutions, community development corporations, and a wide range of others have been asking this question more regularly. Perhaps you have been asking yourself this and other questions:
- Are community needs the same as market demands?
- Does an institution’s service area comprise the same boundaries as its market?
- Where can I find strategic data and information to understand and interpret these dynamics?
- Can my community support a new grocery store, more daycare centers, or a bank branch? What is our competitive advantage?
- How can these opportunities be measured, communicated, and acted upon?