Highland Park extends Placer.ai data deal to 2029 at higher cost

Highland Park officials have locked in a three-year extension with Placer.ai, a location data analytics firm, following a council vote on October 26. The new contract takes effect on December 1 and runs through November 30, 2029. This move extends a relationship that began in 2023.

The financial terms of the partnership have increased. When the city first signed with Placer.ai, the annual cost was $72,000. The renewed agreement sets the yearly price at $82,145. City Communications Manager Amanda Bennett stated that the data insights available under the new deal remain identical to the previous version.

Bennett described the tool as a resource for both municipal operations and local commerce. She said the city has observed positive applications from the visualizations and analytics provided by the platform. These tools support marketing campaigns, economic development efforts, and event planning. The software helps the city attract new developments by providing specific location intelligence.

The platform tracks foot traffic in the business district, identifies new business locations, and monitors the use of streets and other safety features. Bennett noted that the data is stripped of identifying information before it is used. The city has used this data to optimize a marketing campaign with iHeartMedia. By converting engagement rates into visit counts, officials can assess the success of events and decide on their future.

Local businesses also access the data through the city's Office of Business Development. Owners can request unique reports that detail their visitor patterns. Bennett called these reports a high-value component for the commercial sector. Businesses use this information to make decisions about operating hours and other operational factors. The city also offers business district level analysis for a wider view of the area.

Bennett argued that the platform provides accurate comparative statistics that are difficult to obtain elsewhere. Before 2023, the city relied on rough head counts to measure event attendance. The new system allows for year-over-year comparisons that Bennett described as apples to apples. She said the city trusts the analytical data from Placer.ai more than generative AI because it is based on specific metrics.

When a report is prepared for a business, a city staff member pulls the data and helps interpret the findings for the owner. Bennett said this process allows for confident comparisons when evaluating performance. The city measures the platform's success by observing real-world applications and gathering feedback from staff and the public. Officials regularly evaluate their software subscriptions to ensure they continue to deliver actionable insights.