Racked is no longer publishing. Thank you to everyone who read our work over the years. The archives will remain available here; for new stories, head over to Vox.com, where our staff is covering consumer culture for The Goods by Vox. You can also see what we’re up to by signing up here.
The results are in and they're saying an increase in formula retail restrictions would be a bad move. The economic impact report—compiled by the city's Office of Economic Analysis and commissioned by the Planning Department after stricter retail formula ordinances were proposed late last year—reveals that more restrictions would do more harm than good. In fact, upping restrictions would most likely stunt economic growth and shrink local spending.
According to the report (and highlighted by the SF Business Times) formula retail businesses represent only 16% of SF's 28,000 businesses but account for 32 percent of the city's $13.3 billion in retail sales. Hopefully the next step in the whole formula retail conversation is to take a closer look at whether or not the current restrictions are already too limiting for SF's retail landscape.
· Formula retail restrictions could hurt residents and city's economy, S.F. economists say [The San Francisco Business Times]
· Update: Aesop Hopes to Edge Into the Valencia Corridor [Racked SF]