We’d all like to see J.C. Penney or an equivalent retailer move back into our downtowns, but, considering many of these former giants are more apt to be closing than opening a store these days, it’s nothing we should count on.
We raise the issue in light of Shamokin City Council approving a plan for Dollar General to build a new store at the site of the former Masonic/Fun Shop building site at Independence and Eighth streets, and the notion for some that it’s a disappointment.
It’s not top-tier economic news, but we see plenty of positives:
• A vacant lot is being filled with a new building.
• The city has sold an adjacent lot for $101,000, generating a large dose of one-time revenue from the sale, plus future property taxes.
• The new building will be required to meet a certain look, and not one of a “metal box.” It will have white brick on three sides, creating a modern and professional appeal.
There is the issue of what becomes of the current Dollar General building, which is in need of repair. But that condition exists currently anyway.
Bottom line, we think the city has made the most of this situation. We all know that Dollar General drives downtown foot traffic, so keeping the store in the heart of the city is a positive.
And it’s worth noting that the Tennessee-based company operates globally and closed Friday at $113.53 a share on the New York Stock Exchange. That’s a lot of value for a “dollar store.”