Ferndale nets 26 new businesses in 2010, says DDA

The amount of investment in downtown Ferndale increased by $3.3 million from 2009 to 2010, according to statistics released by the Ferndale Downtown Development Authority.

The $7.8 million expended in 2010 included 37 building rehabs, the opening of 40 new businesses, and the 7,000-square foot addition to the Ferndale Public Library. With businesses lost in 2010, the net gain of new businesses was 26, the DDA stats say.

The bottom line is an 85 percent increase in investment and proof that Ferndale has the ability to grow even during a puttering economy. While job creation numbers declined by 28% from this year over last, there was still a net increase of 204 new jobs, according to the DDA stats.

Cristina Sheppard-Decius, executive director of the Ferndale DDA, says the sunny numbers in this cloudy economy have much to do with "a lot of work for many years up to this point."

It helps that there is more interest in general from business owners who want to set up in downtown locations. Just because the economy turns sour, especially in Michigan, she says, "we can't just stop. We have to keep the dream going."

Source: Cristina Sheppard-Decius, executive director, Ferndale Downtown Development Authority
Writer: Kim North Shine