Rising rent prices near the BettPlex in Bettendorf are pushing small business owners to make tough choices. Many companies are left with the choice to stay and pay the unsustainable costs or find a less expensive area.
Property owners near the BettPlex have increased prices on their rents compared to when the area was first coming up because of the area’s sudden rise in popularity. What was once an affordable spot to start a business is now leaving small businesses with problems of keeping up.
Satyanam Singh is a business owner that is now in Davenport. “Before I had plans to start a business, many people told me that the Bettplex area was a great place,” explained Singh. “I looked into that area and it was great, but I had one thought. It was about the profit margin I would make compared to other areas like Davenport.”
Compared to some of the other rent prices in Bettendorf and Davenport, the BettPlex area is extremely expensive.
For example, another business owner, Yunzhen Lin, in the Bettendorf area, shared her thoughts on the rent prices. “The rent price for my building is on the cheaper end,” said Lin. “I have heard that areas like the BettPlex are a lot more expensive, but others are cheaper.”
Although some owners continue to rent in the BettPlex area, others have made the decision to relocate or expand to other cities with lower rent prices like Moline, Rock Island or Davenport.
While high rent prices are causing owners to rethink their strategy, they are also discouraging future entrepreneurs from pursuing a business. The BettPlex area, previously considered a great place for business creations, is now becoming inaccessible.
Singh also expressed his interest in renting out a building near the BettPlex before ultimately deciding to go to Davenport. “I wanted to start my small business in the BettPlex area, but when I saw the rent prices they were giving out, I decided to go in a different direction,” explained Singh. “I saw a space that was open for rent in Davenport, and I decided to begin my business there due to the difference in rent prices.”
The challenge for the BettPlex area is to balance growth with keeping the prices affordable for renters. If no action is taken, some of the local businesses that made the area special could disappear. At this time, owners are trying to do their best to survive and adapt to the circumstances.
Retraction Statement
I want to address a recent article (above) that was published on the Spartan Shield website. I apologize for sharing a quotation that was not authentic. The quotation I credited to Nadia Selmani was not her words at all. That is my mistake, and I am very sorry that I spread false and inaccurate information. This will never happen again as I will be extremely careful with who I quote and ensure that the quote is fully authentic. Thank you for your understanding and patience.
