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2.0 Market Study <br />This section of the repoft presents the findings of the market research for Ellensburg and sets the <br />stage for further analysis that can be used to recruit business, enhance the housing market, help <br />existing retailers target customers, and implement the accompanying malketing and recruitment <br />sfategy in a later section of this report. The goal of this market sfudy is to show commr-rnity <br />stakeholders and potential investors how to capitalize on potential residential, retail, and off,rce <br />market opporhrnities and to levet'age investments that will sustain the Ellensbutg community <br />while preserving the character that the community values, <br />Chapter 2 is divided into four sections: <br />Section 2.1 describes the market definition based on zip code suvey work cornpleted by <br />businesses in the community, It also provides insight into Ellensburg's trade area dernographics <br />and prcscnr's martriet data relatcd to [llcnsburg's prirutLry uuti ucLrurdily [rutlu aroas. <br />Section 2.2 provides demographic profiles of Ellensbur-g's primary and secondary trade aleas. <br />This section also presents a more detailed market segrnentation using PRIZM@ Lifestage <br />characteristics. (PRIZM@ is a product of Nielsen Claritas^) <br />Section 2.3 presents the retail market analysis that shows the amount of retail sales "ieaking" <br />from Ellensburg's primary and secondary trade areas. This infonnation is based on the most <br />recent data available and is a reliable source for understanding overail market patterns. This <br />section concludes with some key opportunities for retail that could be used to both enhance <br />existing businesses and recmit additional businesses to the Ellensburg community. This section <br />also leverages Ellensburg's retail and demographic data to evaluate other market segments such <br />as residential and office uses. <br />Section 2.4 provides a concise conclusion to the overall market analysis <br />5