Report says Glenwood South is bringing big business to Raleigh
RALEIGH, NC (WNCN) – One of Raleigh’s busiest hospitality districts could have more than a billion dollars in direct and indirect economic impacts, according to a new report commissioned by the Glenwood South Neighborhood Collaborative.
The report, produced by Circle Analytics, looks at quantifying the impact of Glenwood South residents and estimated visitors.
The report concludes that the cost of housing, health care, utilities, transportation and food totals $512.7 million in direct and indirect economic impact to local residents.
“Everyone from young professionals who have just graduated from school to empty nesters who have retired and moved here,” said Larry Miller of the Glenwood South Neighborhood Collaborative. “What makes the neighborhood is the shops that you can walk to and be a part of.”
From hotels to transportation, restaurants, gas and other expenses, the report estimates the economic impact of visitors at $761 million.
According to the study, the neighborhood’s food and beverage tax revenue generated more than $124 million, or three percent of Wake County’s food and beverage taxes.
Anthony DeMarco, co-owner of DeMo’s Pizza, said the area has changed drastically over the past decade.
“We’re in our tenth year here,” DeMarco said. “It’s like day and night. It’s just grown exponentially. Not just here on the street, but basically everywhere on the street, in the neighborhoods here and in the neighborhoods over there.”
The city has also tried to tackle crime as nightlife in the neighborhood grows. Raleigh Police increased their presence along Glenwood Avenue late at night, seizing more guns in 2022 than in 2021.
“We’ve been working with the police and they’ve definitely made an effort to improve security here,” Miller said.
Miller said the Glenwood South Neighborhood Collaborative hopes to use the report to get more local funding for better streetlights, improved sidewalks and other safety and infrastructure improvements.