The Economic Pulse – A Community Spotlight on Beverly, MassachusettsJuly 14, 2021 4:20 pm
The North Shore Alliance, or the “Alliance,” prides itself on supporting economic development initiatives across the 30 communities and four Gateway Cities of the North Shore of Massachusetts. Each month we will conducting a community highlight. We will be taking a look at some of these communities, where they stand economically, and highlight commercial development sites that may be of interest to our readers.
This month we will be examining the aptly named “Garden City” of the North Shore – Beverly, Massachusetts. In order to take the pulse of this beloved Essex County community, we will delve into the local economic tools available, where Beverly stands currently, and future commercial and economic development programs.
A Word About Beverly, Massachusetts
Beverly is rich in history, dating back to its first settlement in 1626 when it was originally part of historic Salem, Massachusetts. The first settlers built their homesteads along the river and eventually, with a wave of English settlers, the tiny village began to grow.
Today, Beverly is a unique combination of small town charm with a city identity. Just 22 miles north of Boston, Beverly is located on Route 128 and is home to five commuter rail stations to allow easy access to Boston and surrounding cities.
The thriving downtown community has robust partnerships with the local and state government, as well as active and involved business support programs such as Greater Beverly Chamber of Commerce, a dedicated Economic Development Planner, and coordination with local business leaders.
Beverly, like many Massachusetts cities, boasts an exceptional school system, a strong business community, a creative and artistic hub, and miles of beautiful coastline to attract families and businesses to make this area their home.
What’s New in Beverly?
Beverly is currently coming out of the pandemic like so many other towns in similar situations. Thankfully, as of this writing, both the rate of transmission and hospitalization is low not only in the City of Beverly but in Massachusetts as a whole.
These positive and encouraging numbers mean Mayor Mike Cahill is looking forward to a year of rebuilding and strong economic growth. One project that he recently reported on during our North Shore Conversations podcast was the Beverly Police Department’s new state-of-the-art headquarters. As of June 2021, Beverly Police Chief John LeLacheur said the building was about 80% complete and expects to begin moving in during the summer.
Other positive economic news in Beverly includes the approval of several grants designed for improvements on infrastructure and climate action. One grant will be addressing design improvements to pump stations for waste water. Another grant will provide funds to focus on erosion control at O’bear Park. Additionally a grant has been accepted that will assist with a Climate Action Plan which will quantify greenhouse gas emissions in the area and how to drive down those numbers.
Economic Development: Tools & The Commercial Development
Beverly Planning & Development has several economic development tools for use by Beverly businesses. Some of these include:
- Beverly BIOReady – a Massachusetts Biotechnology Council designed to “support the growth of the business in the community through its permitting policies, by-right zoning, public infrastructure projects, pre-permitted biotech sites, and planned development.”
- HUBZone program is one of Beverly’s economic programs that falls under the umbrella of the Small Business Association. This program “encourages economic development in historically underutilized business zones – HUBZones.”
- Façade & Sign Improvement Program which encourages downtown property owners to improve their storefront.
- The Retail Incentive Program which downtown retailers may apply for up to $7,500 in rent assistance to help offset their first year expenses.
For more information about private and public development projects as well as commercial development check out our links below.
Categorised in: community highlighht