Brad, You are not going to want to hear this but it is almost impossibe to save the economic stores in a town of that size (unless it is many many miles from anything). There simply is not enough business to turn a profit. I have studied it nationwide as a part of my job and there is not much reason for outsiders to travel from their town to another very small town to shop. Generally the customers and their dollars gravitate to the nearest community with a Walmart, a big supermarket, a hospital and a drug store.
That said, a few well run local business can do OK. A quality conveniece store, a gas station, a small auto repair/tire repair store, a morning/noon coffee shop. Needs to keep a church or two, which is very important.
The life of the community can continue, with festivals, neat little parks and church events. BUT...If the town turns into a trash pile with junk cars and debris everywhere, abandoned houses and human delilects....last one out... turn off the lights.