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• W2602581273 abstract "IntroductionMuch of the literature on gentrification has focused on how it affects residents and housing. We know, however, that the nature and quality of neighborhoods, especially those in urban settings, are also determined by the commercial enterprises that serve the community. The store, an emblem of retail, has long played an important economic and cultural role in neighborhood development and livelihood (Liebow, 1967). Retail services, particularly in mixed-use settings, not only provide material needs for those living nearby, but less-tangible social and cultural capital as well (Deener, 2007; Hyra, 2008; Zukin et al., 2009). Therefore, it follows that, when neighborhoods undergo meaningful economic and social changes like those that transpire under gentrification, implications surely exist for the business environment. These potential changes are important not only for the business proprietors but also for the residents who patronize their services and consume their goods.We know that business location decisions and their subsequent survival are a function of the existing (and potential) consumer base in an area (Meltzer and Schuetz, 2012; Waldfogel, 2008). A gentrification-induced shift in its composition, certainly economically and often racially/ethnically, could mean several things for businesses. These changes could be a boon for businesses if they bring in new consumers; however, if the new consumers also have different tastes and usher in higher rents, then the incumbent businesses could suffer. For residents, the prospect of new services, new employment opportunities, and street vitality are weighed against the potential interruption in the culture and services on which they historically had relied.To get at some of these tensions, I examine more closely the issue of business turnover and displacement under conditions of gentrification. I use microdata on business activity and neighborhood conditions in New York City to test what kinds of businesses tend to open, close, or persist in the face of gentrification. I also drill down to three illustrative case neighborhoods, which reveal nuance beyond the average citywide effects. I find that gentrification can bring both opportunities and threats for the businesses and the community as a whole. Citywide, most businesses stay in place over time. Furthermore, the rate of displacement/retention is no different across gentrifying and nongentrifying neighborhoods. When businesses do leave gentrifying neighborhoods, however, their spaces tend to sit vacant for relatively longer periods of time. Gentrifying neighborhoods more often attract chains-that is, businesses with multiple establishments or locations-to replace displaced businesses than do nongentrifying and higher-income neighborhoods and are more likely to attract services that are different from those that operated in the neighborhood before gentrification. As the neighborhood drill-downs show, however, cases still exist in which neighborhoods undergoing gentrification lose businesses without the upside of new amenities.Neighborhoods and Small BusinessIn this section, I consider the role of small businesses in neighborhood life and the mechanisms through which they respond to localized gentrification.Neighborhood-Based Small BusinessesSmall, businesses historically have played an important role in the cultural and economic capital of urban neighborhoods.1 Before the 1970s and before inner cities faced decades of disinvestment, businesses, like corner stores, markets, and eateries, were a central part of the neighborhood's fabric (Ehrenhalt, 1999; Lloyd, 2010; Oldenburg, 1999; Sutton, 2010). In addition, those businesses have long been considered vehicles for entrepreneurship, especially among minority and immigrant populations (Fairlie, 2012; Sutton, 2010). These neighborhood businesses epitomize local not only in terms of their consumer base and proprietors (many of whom often come from the immediate community) but also in terms of their cultural and economic reach (Hyra, 2015; Hyra, 2008). …" @default.
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• W2602581273 date "2016-09-01" @default.
• W2602581273 modified "2023-09-26" @default.
• W2602581273 title "Gentrification and Small Business: Threat or Opportunity?" @default.
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