Newport economic leaders offer AI tool to local businesses
by June 11, 2025 8:59 pm 344 views
The Newport Area Chamber of Commerce and the Newport Economic Development Commission (NEDC) will offer a new tool for local businesses, landlords, and realtors. They will now have access to advanced data analytics reports powered by Placer.ai, a location intelligence platform, Jon Chadwell, executive director of the Newport Economic Development Commission, told Talk Business & Politics.
The chamber and NEDC have purchased a subscription to the software for use in growing local businesses and in recruiting new businesses to the community. Placer.ai uses anonymized mobile device data to provide deep insights into consumer behavior and market trends, he said.
These reports can include foot traffic patterns, trade area mapping, customer journey analysis, competitive benchmarking, demographics and psychographics, dwell times, visit frequency, event impact, and more.
Through this partnership, chamber member businesses can now receive 20 to 25-page reports at no cost beyond their membership dues. These reports typically cost between $500 and $1,500 when purchased through private consultants.
The number of reports each business can receive annually is based on their membership level. Reports can even benchmark local chain businesses against state and national performance, offering market insight.
Landlords and realtors may access free reports if they are a chamber member or by involving the NEDC in recruitment visits with prospective tenants for a location. These property-focused reports may include traffic counts, nearby business activity, community business patterns, updated demographic data, and more.
To help the business community understand how to utilize this tool, the Newport Chamber and NEDC will host an informational session on June 23 at theTech Depot. Attendees will receive an overview of what is available through Placer.ai and how to maximize the value of the data.
Beginning July 1, 2025, Placer.ai reports will be available to local businesses upon request. Reports will be processed on a first-come, first-served basis. Upon receiving a completed intake form, the chamber and the NEDC will provide applicants with an estimated completion date for their report.
