Only a 20 minute drive from Capitol Square in Madison, Cottage Grove's economy is heavily influenced by Madison and its neighboring suburbs. Since 1990, the population of Cottage Grove has grown by almost 500%. As the population of Cottage Grove continues to grow, the Village can provide more complete retail and service options to its residents or exist as a residential bedroom community, depending on Madison and other surrounding communities to provide goods and services to its residents.
Community leaders must possess an understanding of what is influencing the well-being of Cottage Grove and its residents in order to make the best economic decisions. A Commercial leakage study provides an insightful picture of Cottage Grove's local economy to understand the nature and impact of the commercial supply and demand in the area.
Cottage Grove businesses are currently capturing only 13% of the retail spending generated by its residents. There are significant retail supply gaps in nearly every sector analyzed, suggesting that Cottage Grove could support retail development in most sectors, including automobile dealerships, health and personal care stores, gas stations, and restaurants. Additionally, there are other sectors, including building material and supplies dealers, sporting goods and hobby stores, office supply and gift stores, and bars that are over-represented by businesses, but exhibit spending gaps, meaning these establishments are not effectively capturing local spending. Several suggestions for increasing the local spending capture are included in the discussion.
Click here to view the Vierbicher Leakage Study Report.