Nearly 30 small business have opened in downtown Raleigh in 2023, Downtown Raleigh Alliance reports

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Wednesday, May 31, 2023
Downtown Raleigh welcomes boom of new businesses
Wallet Hub has ranked Raleigh the 11th best place in the country to start a business, and people are doing just that.

RALEIGH, N.C. (WTVD) -- WalletHub ranked Raleigh the 11th best place in the country to start a business, and people are doing just that.



The Downtown Raleigh Alliance found that since the start of the year, nearly 30 small businesses owners are taking the plunge, opening doors to customers in a time of transition.



Anthony Piazza already owns five restaurants in Johnston County and is now embarking upon a project in the City of Oaks. His newest location can be found on the ground level of the AC Hotel on Glenwood South.



Piazza feels the expansion is a strong investment.



Hippo Wines is another spot that recently came on the scene. It's located inside Raleigh's Sip and Stroll District, which is a pilot program the city's expanding.



"Even on Memorial Day when we expected everybody to be gone for the weekend, we had a pretty tremendous amount of foot traffic," said Hippo Wine Owner Sorena Dadgar.



The foot traffic is changing.



New data is shedding light on the economic state of downtown Raleigh.


Cellphone location data analyzed by ABC11 shows the resurgence peaked at 64 percent of pre-pandemic levels in 2021, but now it's about half.



The Downtown Raleigh Alliance recognizes there's a shift. It's down on the weekdays because of hybrid schedules, but up on the weekends.



"Food and beverage sales are above what they were pre-pandemic," said Will Gaskins.



Piazza is ready to tap into those sales and hoping to open his restaurant in the fall.



"I'm doing a lot of work myself, coming in here and pushing equipment in and hustle myself," he said.



SEE ALSO | Rapid growth in Raleigh raises risk of budget shortfall, reduced emergency response times, city report warns


Raleigh's Budget and Management Director warns of potential budget shortfall as city sees increase in annexation requests.


SEE ALSO | 'It's definitely working.' Business owners in downtown Cary embrace new growth


Business owners in downtown Cary say the area has never seen more foot traffic in the area, and they're embracing the recent growth.
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