A new report has found that over the next decade two main factors will determine the scope of economic development in the Kennett area. It points out that with telecommuting becoming more commonplace there is a reduction in the need for new office buildings. Meanwhile the Latino population, which is poised to significantly increase over the next ten years, is also likely to have an enormous impact on the economy of the area, writes Fran Maye for Daily Local News.

The report on the economic development of Kennett Square that was sponsored by Historic Kennett Square was presented on January 28th by Todd Poole, a consultant with 4Ward Planning Inc of Philadelphia. During the preview, Poole emphasized that in order to ensure economic growth and viability for the future, Kennett Square and Kennett Township need to start planning for it right now.

“We will not see any new office buildings being built simply because technology allows us to telecommute,” he said. “This allows people to work from home, or on the road. As long as you have an Internet connection, a laptop and a cell phone, you can work from anywhere.”

Poole continued to say that businesses will have to adapt to all the challenges that arise from the advent of online markets, adding that while the online market currently represents only 14 percent of retail sales, the field is growing rapidly, and will certainly impact businesses in the Kennett area.

Poole also emphasized the importance of embracing the buying power of the growing Hispanic community.

“Hispanic households in particular represent a strong and growing economic force all over the country, but particularly in this area,” he added.

Some of the other highlights of the report, which was funded in part by A Vision Partnership Program Grant from the County Commissioners, and also by contributions from Kennett Township, Kennett Borough, Historic Kennett Square, Genesis HelathCare and Longwood Gardens, included the impact parking and transportation will have on the area over the next 10 years, the business potential of Millennials, and the upcoming retirement potential of Baby Boomers.

A full presentation of the report will be held on February 11th at the Genesis building at the corner of State and Union streets in Kennett Square, with the public invited to participate.