3 min read April 2024 — In an interview with Invest:, Meredith Harris, executive director of Marlborough Economic Development Corporation, talked about how its unique public-private partnership model allows for flexibility in supporting businesses, how it is balancing development with community needs, and which sectors are anticipated to grow.
What have been some major highlights for the Marlborough EDC over the past 12 months?
The biggest development in Marlborough was the addition of Moderna coming to 149 Hayes Memorial Drive. Moderna is investing over $350 million here in Marlborough, adding 60,000 square feet to an existing 140,000-square-foot building. They are bringing with them 200 jobs. The city provided them with a tax incentive, and we believe it was a win for both the company and city to partner together on this project. Another noteworthy development is that Sartorius, another life science company, is also growing in Marlborough. They are bringing 120 jobs and a $100 million investment to an existing building on Donald Lynch Blvd.
Looking ahead, which sectors do you foresee experiencing the most growth within the region, and how are you supporting businesses in these sectors?
We are always poised and ready for growth when it comes to life sciences and biotech, especially as Massachusetts is a big driver for that industry. But we are shifting our focus a little bit to also be on the advanced manufacturing front. Clean energy is another industry that folks are really taking a harder look at, especially considering battery storage. While we will always give love to the life science and biotech industry, we are trying to make sure that we diversify our attraction efforts.
How does your organization’s public-private partnership model and philosophy foster economic growth and differentiate you from other economic development models?
We are a nonprofit organization, so although we are funded through city dollars, we function outside of city government, which gives us a little bit more autonomy and a unique ability to support businesses when it comes to awarding grant funding, having confidential conversations and advocating for business. We can act as a private corporation versus a government entity.
How does the organization balance commercial, industrial, and retail sector development with community needs, given its focus on sustainable economic growth?
Currently, we are focusing on our downtown and the Donald Lynch Boulevard area when it comes to retail development. We agree with the widespread trend in many communities to turn attention back to downtown as a hotspot for retail and small business. Last year, we implemented a small business incubator program in our downtown that featured public art and a temporary retail space for small businesses and entrepreneurs looking to test the downtown market. One of our 20 unique resident vendors just signed a lease for a brick-and-mortar space downtown, so we were excited about that. With all that being said, you do need to have people living in and active downtown to support the type of retail that folks want to see. We have two mixed-use projects in the queue right now which will hopefully help to jumpstart some additional activity.
Additionally, the city council recently started a conversation about a zoning change along Donald Lynch Boulevard, which is where our 1M square foot Mall sits. Many malls across the country are actively thinking about their future and what types of redevelopment opportunities may exist. So for now, we are strategizing with the current owners and thinking towards the future. The city is able and willing to come to the table to help support that conversation and ensure that when and if they are ready to make a change, we are there to help them through that and make sure that the groundwork is in place for them to execute quickly.
Amid economic challenges like interest rates and inflation, how are you working to support businesses?
Regarding small businesses, we offer a suite of grant programs of up to $25,000. It depends on the type of product and where in the city they are looking to go, but we do also offer a loan program to help with larger scale projects as well. That is on top of offering expedited permitting, and acting as a liaison, or as I like to say, a concierge service for the business community. When it comes to big businesses, they are often looking for tax incentives and expedited permitting, which we can deliver on. If they need a permit by a certain date,we can follow through on that, which is most valuable to them.
How does technology contribute to organizational strategies aimed at supporting businesses and promoting economic development?
We have tried to implement more online facing marketing strategies over the last several years. We have a podcast that is aimed at educating the public on why economic development is important and what it means to residents living in our community. We also have tried to shift our marketing strategies to be really audience based and focused depending on the media platform. People rarely are interested in paper handouts anymore, even business cards, information on our programs and initiatives are primarily consumed online, in short segments, so we have tried to adapt to that.
What factors make the city appealing for employees considering relocation?
First and foremost, we have a great location with loads of opportunity. We are centrally located in Massachusetts, which has some of the greatest universities and colleges in the world and infrastructure that provides great access to all points north, south, east, and west. In addition, Marlborough is home to over 100 dining establishments including casual and upscale eateries, breweries and coffee shops serving an array of cuisines and atmospheres. We have the largest number of hotels outside of greater Boston and are home to New England’s largest indoor entertainment facility. We also have ample sports and recreational facilities, several walking/biking trails, beaches, ponds, and a newly added floating boardwalk. We also are home to a historic walking tour right in our downtown and host several parades, festivals, and events throughout the year.
What are your ambitions for the city’s economic development over the next two to three years, as it continues to grow and evolve?
We have a few blocks of small to midsize space that we are still looking to fill or even redevelop. We do not have a lot of large blocks of space available or even land. For us the last few years it’s really been about retention, and about making sure that the companies that are here are happy here and are growing here. Additionally, the state of Massachusetts is putting a huge push on housing, so we are really trying to look at different assets in the community and think about redevelopment opportunities and how we can capitalize on them to make sure that the value is coming back to the community.
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