18 - Agreement with Placer.aia - Laserfiche WebLink

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Item No. 18 TO: Mayor Mayor Pro Tem City Council FROM: Robert G. Vine, Deputy City Manager SUBJECT: Agreement with Placer.ai — Joint Project with Paris Economic Development Corporation and the Lamar County Chamber of Commerce DATE: October 23, 2023 BACKGROUND: Placer.ai is a location analytics company that collects geolocation data from mobile devices enabled to share data in anonymized fashion. It supports clients' needs to measure store traffic and the results of marketing campaigns intended to drive store traffic. It also measures foot traffic counts and dwell time and provides insight to understand how promotions, holidays, seasonality, and events impact business. With regard to "area analysis", this application can provide detailed insights into what is happening in the vicinity of a property, including traffic volumes for road segments, crime history near the property, and a view of nearby real estate development. This application makes it possible to discover true trade areas — where customers live and work and provides opportunity to focus a marketing budget on ideal customers and forecast the impact new tenants will have. STATUS OF ISSUE: The City of Paris is partnering with the Paris Economic Development Corporation and the Lamar Chamber of Commerce to fund the purchase of a one-year subscription to Placer.ai with each organization providing $5,000 for a total of $15,000 annual cost. The data obtained from Placer.ai will assist each organization to more efficiently plan, predict, recruit, retain and inform stakeholders, current businesses and industries and those businesses and industries that could potentially call Paris home.