02 Apr Seeing Change Brings Opportunity: Vineyard, Utah’s Booming Community
FOR IMMEDIATE RELEASE
Larry Martin • Gadberry Group • 501-907-7100
LITTLE ROCK, AR – March 29, 2018– Gadberry Group today announces Vineyard, UT as the latest Geospatial Data Study in their MicroBuild On Location program. Vineyard is just one of over 500 cities that have experienced dramatic change in the last few years. MicroBuild On Location identifies and captures high household changes using the company’s flagship data product MicroBuild®. The upcoming release of MicroBuild (Spring ’18) will show over 30% in new household growth in Vineyard over the previous year’s dataset.
MicroBuild, a patented geospatial and location intelligence data product, shows the number of households in Vineyard to have almost doubled in just the past two years. Looking back even further to the 2010 Census, MicroBuild shows almost 5x the number of households in 2016 as were present in 2010. Data sets based upon U.S. Census Estimates and Projections are not able to capture and show these changes.
Vineyard, Utah, an area just outside of Provo, was once sleepy little area made up of farmland and a shuttered steel mill. According to the U.S. Census, Vineyard has grown from 611 residents to almost 4,000 in 2016. But those estimates fall woefully short of what is happening on the ground in Vineyard.
“We say that MicroBuild is ‘change aware’ because it captures population changes that you just can’t see in any other location intelligence data product,” stated Larry Martin, President of Gadberry Group.
According to Martin, most researchers would agree that Census data has been the standard for understanding the distribution and demographic makeup of the U.S. population. “But with the changes in how the Census data is collected under the new ACS (American Community Survey), retailers and others that rely on Census data may be disappointed to learn that the 17.0% sample of income and other variables that was collected via the long from in Census has been replaced with a 2.5% rolling ACS sample that models data for smaller communities” he added.
In the Utah Valley, where the growing high-tech community is creating one of the highest job-growth areas in the nation, land for new development is scarce. With mountains all around and Utah Lake to the west, Geneva Steel Mill’s industrial site’s 1,600 acres has become a hot spot of commercial and residential development. The area became central to a multi-purpose Master Plan in 2014, and is expected to help Vineyard grow to 40,000 residents in the coming years. When development is complete, Vineyard expects to have 3 million square feet of office space, 2 million square feet of retail space and 5.5 million square feet of industrial space.
Significant population increases in places like Vineyard drive the need for a growth in services and commercial storefronts. Services, such as housing, transportation, utilities, education and health care are needed for these new inhabitants. Commercial storefronts such as banks, retail and restaurants are also needed for the growing community. Not only is Vineyard growing, but it is also bringing a younger and more diverse consumer to the area. The need for businesses to better assess, respond and serve these residents is a challenge.
Using premier consumer household data and state-of-the-art geocoding, Gadberry Group’s MicroBuild product is able to identify and capture change because it is built upon a proven multi-layer, multi-sourced consumer address-based methodology that measureshigh growth, decline and changing demographics that are not captured by Census estimates and projections. MicroBuild is the only geospatial and location intelligence data set built from the ground up using consumer household and address data, and that is aggregated at micro-level geographies (Census Block and Postal ZIP+4) that are most suited for site analysis, sales forecasting and market assessment.
EDITOR’S NOTE: CLICK HERE TO LEARM MORE ABOUT THE VINEYARD GEOSPATIAL DATA STUDY
About Gadberry Group
Gadberry Group combines over 25 years of geospatial data science expertise to provide geospatial and location intelligence (GLI) data products and services for clients who demand the most current, accurate, precise and actionable GLI solutions for their market and location analysis and research. Headquartered in Little Rock, Arkansas, Gadberry Group is recognized for industry-leading expertise for combining sophisticated data development, software development and professional services to help clients solve their complex GLI business problems. Gadberry Group’s geospatial location intelligence dataset, MicroBuild®, is protected under U.S. Patents No. 8,341,010 and 8,428,999.
For more information please visit www.gadberrygroup.com.