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5 Questions with Rickey Hayes, CEO of Retail Attractions



Rickey Hayes is the founder and CEO of Retail Attractions, an economic consulting firm that focuses on retail development. He is former director of economic development for the city of Owasso, where he orchestrated the development of a 4.2 million-square-foot regional shopping district. Since the inception of Retail Attractions, Hayes has worked as a liaison between public entities and the retail sector.

1. Why would cities turn to retail consultants?

Cities across the country are realizing they are in competition for their very existence, and unfortunately it is not just competition from the neighboring communities. It's more like "us versus the world." It's a very competitive quest for the sales tax revenue that comes with retail.

Traditional economic development has been about creating jobs. Retail development and retail recruitment is a very specialized field. Most cities need some assistance because when everything is said and done, they don't know where to start.

The ones that try and fail don't understand why a retail or restaurant entity won't return their calls. National retailers look for communities that fit their goods and services, and satisfy a particular set of criteria. Retail Attractions has found a niche in matching retailer's needs with what our client cities have to offer.

2. What kinds of requirements do national retailers typically have for any given site?

In very basic terms, retailers are looking for a strategic market location with visibility and accessibility. Once they have found their location, there are site-specific issues such as the cost of the dirt, stormwater concerns, and environmental, topographical and other development concerns that must be addressed.

3. Beyond consultants, what can cities do to attract retailers?

I've been waiting for the right forum to say this: The most important thing cities can do to attract retailers is to learn to be a partner with the firms attempting to make an investment in their community.

These firms are not the enemy; they are investing in the community and should be treated with cooperation instead of resistance. There is nothing like well-planned, quality retail development to increase the overall quality of life in a city.

4. In general, are retailers still being cautious due to the economy or are they looking to expand?

Yes, they are still being cautious. Yes, for the most part they are beginning to look for growth opportunities. But the thing to understand is that they are being much more particular and discerning in terms of location.

I think you have to be very brave to be in commercial real estate right now. Like a friend in the business commented to me recently, "It's kind of like grabbing a tiger by the tail. You could get your arm bitten off, but no one could call you a coward."

5. What are national retailers' opinions of the Tulsa area?

I think Tulsa is still thought of as a vibrant, viable market. Some of the suburban markets around Tulsa continue to get retail deals. Communities such as Glenpool, Owasso and Broken Arrow are still getting a lot of looks, and I think the primary reason is because these communities are aggressively partnering with the private sector.

Owasso used convincing incentives to entice retailers, and Glenpool has created a strong and growing retail base because they have been progressive in what they were willing to offer. Recently the Tulsa World reported on the city of Broken Arrow's incentive package with a national sporting goods retailer. The truth of the matter is this: If a city wants retail development, they need to consider some type of incentive.

The Tulsa region, and I am talking about the city of Tulsa and the entire MSA, is going to suffer until the political war in Tulsa City Hall stops. Cities should know by now that retailer's research includes the evaluation of the political climate of a community. If they find unity and receptivity in one market and discord and bickering in another comparison market, they will choose the positive market every time.