Last month, the Phoenix Public Market celebrated the opening of the Phoenix Public Market Café by St. Francis owner Aaron Chamberlin, which re-energizes space that had been empty for a year. Many of the market’s micro businesses will also directly benefit by selling products to the new restaurant. As a venue, the Phoenix Public Market contributes strong support to the local economy in the realm of small business — particularly micro businesses, which “represent a staggering 99.7 percent of all employer firms in the country,” according to Dan Klocke, vice president of development with the Downtown Phoenix Partnership, quoting data from microexec.com.
The Phoenix Public Market provides a low-cost opportunity for a business to promote products, establish revenue and expand. Noting the low-risk environment allows business owners to “learn, perhaps make a few mistakes, and grow,” Klocke says, “Today, 45 vendors who started at the Phoenix Public Market now have products that can be found in major grocery stores and restaurants throughout the Valley.”
Klocke names the City of Phoenix and Bank of America as among groups whose support has enabled the market to “hold firm in our mission to create opportunities for small businesses that may not be able to open storefronts because of the cost.” To date, the market’s 100-plus micro businesses have sold more than $7 million in local products.