Ec Economic onomic De Develo elopment pment on on th the No - PowerPoint PPT Presentation

Ec Economic onomic De Develo elopment pment on on th the No e North th Sh Shor ore Matt Smith Senior Economic Development Planner

Metr Metropolitan opolitan Area rea Pl Planning anning Council uncil  Regional planning agency for Metro Boston  101 cities and towns  Mission: Promote smart growth and regional collaboration  Guided by regional plan: MetroFuture

 30-year plan for region  Guides work in all areas of agency  Supports mission through promotion of:  Smart growth  Efficient transportation systems  Improved education of residents  Increase in equitable economic development opportunities for prosperity

Metr MetroF oFut uture: ure: Pr Prosperity osperity Go Goals als  Metro Boston will be globally competitive in the knowledge economy  Small business owners and entrepreneurs will plan a major role in the region’s economy and innovation.  Businesses will grow expeditiously thanks to consistent and predictable economic development policies set by an informed public sector.  A strong supply of educated and skilled workers – of all ages – will encourage businesses to locate and expand here.  More minority and immigrant workers will have opportunities to advance on the career ladder, acquire assets, and build wealth.  More people will take advantage of the region’s artistic and cultural resources.

What hat is ec s economic onomic developm elopment? nt?

Jobs Workforce Quality of Life Training Transportation Housing

Sh Shif ifts ts in in th thinki inking: ng: Old ld vs vs. Ne New Ec Econom nomy The Old Economy The New Economy  Companies attract  Workers attract workers companies – Worker mobility – Corporate mobility  Job growth (numbers)  Income growth (quality most important jobs) more important  Commercial  Community Development Development – Equitable growth

The he No North th Sho hore re

NS NS Econom Economy y is is ti tied ed to lar o large ger r North of Boston economy…

…which is tied to Boston and MA ec econom onomy.

BIG G PI PICTURE: CTURE: Gu Guid iding ing Ec Economic onomic De Development elopment

Jobs Jobs Workforce Workforce Quality of Life Training Training Transportation Housing

La Labor bor Ma Market t Blu luepr eprint int

No North th Sh Shore ore Ind ndust ustries ries  Top of the Order “Critical Industries”  Health Care  Construction  Life Sciences/Bioscience  Manufacturing  “Reliable and Steady Contributor”  Financial Services  “Unsung Heroes”  Tourism/Recreation  Creative Economy

St Strat rategies gies for or jo job b gr growth wth  Focus business recruitment efforts towards critical and emerging industry sectors  Continue to develop employer partnerships for each of the critical industries  Identify and market vacant spaces, and development sites  Tailor workforce training programs to critical industries  Pursue apprenticeship training  Support expansion of math and English language skills training and connect students with employers  Incorporate foundational skills training into all programs (e.g. interview skills, business etiquette)

Eco Economic nomic De Development lopment: : Th The e La Larger rger Pl Planning nning Per erspec spectiv tive

Attracting ttracting an and d retaining retaining ta talent. lent.

De Demo mograp graphic hic sh shif ifts ts wil ill l impact impact ec economic onomic gr growth wth  Slow growth is in store if region continues to lose population to other states.  Attracting and retaining more young people (future workforce) is critical to a growing economy  Baby Boomers retiring  New housing demand will outpace population growth due to declining household size.  Population is aging  Younger families having fewer kids  Housing location and affordability is crucial  Multifamily housing needed. – Near services – Near transportation  “Senior sell off” may provide most single family needed by younger families

Jobs Workforce Quality of Life Quality of Life Training Transportation Housing Transportation Housing

Ho How w an and d where here to gr grow? w? Lo Locally cally an and d Reg egionall ionally

Pr Priority iority ma mapping pping to o gu guide ide gr growth wth  Identify locations for growth (and preservation)  Growth areas prioritize existing infrastructure: transportation, water, sewer  North Shore Planning Project:  Priority sites identified for 6 communities: Beverly, Danvers, Hamilton, Ipswich, Salem, Wenham  Priority mapping in remaining 10 communities underway.

Th The e co compet petitiv itive e value lue of of Do Downt wntowns wns

Do Downt ntown wn urb rban an re renaiss naissance ance under derway Active, amenity rich, transit accessible, pedestrian- oriented urban environments increasingly attractive.

Ho Housing/lif using/lifes estyle tyle pr pref efere erences nces al aligned. gned. S E N I O R S

Wal alkable able en envi vironme onments nts

Activ ctive, e, am amenity enity ri rich ch pl places aces

Connect onnected d pl places aces

Urb rban an en envi vironme onments nts ar are e not not ju just st foun und d in in la large rge ci cities. ties.

Th The e No North th Sh Shore ore of offer ers s ma many y Do Downt ntown wn en envi vironments onments  Boston and Inner Core Cities are increasingly expensive.  North Shore has many that are served by transit:  Downtowns: Salem, Lynn, Beverly, Gloucester  Town Centers/Villages: Hamilton, Manchester by the Sea, Rockport

No North th Sho hore re Do Downt ntowns: wns: Quality uality of of Li Life

Residential esidential di diver ersit sity y

Connect onnected d to o jo jobs bs

Concentrat oncentrations ions of of retail retail am amenities enities an and d pr progra grammi mming ng

Cultural ultural an and d re recreat creational ional amenities enities  Historic Downtowns  Recreation  Beaches  Boating  Major Theaters  Lynn Auditorium  The Cabot  Shalin Liu Performance Center  Museums  Peabody Essex Museum  Cape Ann Museum

Do Downt ntown wn Oppor pportu tunity: nity: Ho Home me to man any y ne new w im immigrants igrants

Wor orkf kfor orce ce tr training aining an and d bu busines siness s re resour sources ces ar are e lo locat cated d in in downt wntowns. wns.

Oppor pportu tunity nity exists xists for or si sign gnif ificant icant downt wntown wn gr growth: wth: RECENT AND ONGOING PLANNING EFFORTS  Lynn  Building on the Vision for Downtown Lynn  Salem  Point Neighborhood Vision and Action Plan  Point Neighborhood Corridor Study  Gloucester  Reimagining Railroad (TOD Study)  Beverly  Beverly Bass River District Vision & Action Plan  Peabody  Main Street Corridor Study

…and in Town Centers RECENT AND ONGOING PLANNING EFFORTS  Downtown Hamilton Vision and Action Plan  Danvers  Waterfront Village Plan and Zoning  Maple Street Mixed Use  Tapleyville District Vision and Action Plan  Rockport Downtown Zoning

Do Down wntowns: wns: Oth Other Ec er Economic onomic be benef nefits its

Th The e ec economics onomics of of de density nsity  Lower maintenance costs  Housing affordability  Transportation choice  Environmental  Consolidated/co-located services

Fi Fiscal scal Benef enefits: its: Th The e val alue ue of f den ensity sity.

Jobs Workforce Quality of Life Training Economic Development Transportation Housing

Ho How w to o ac achie hieve e re results sults?

Coo oordinat dination ion is is cr critical itical Public Private Sector Sector Non Residents Profits

Pl Plan an wit ithin hin region egional al co cont ntext xt

Invest est in in ho housing using  Provide a diversity of housing options to support workforce throughout the region:  Market and affordable units  Range of unit types (multifamily)  Rental and Ownership  Zone to encourage housing  Allow Multifamily  40R Smart Growth Zoning Districts (near transit)  Compact Neighborhood Zoning

Invest est in in, an and d ad advocat ocate for or, , improved impr ed tr transpo ansporta tation tion  Rail  Bus and shuttle service  Pedestrian and Bicycle  Complete Streets  Ferry service (unique opportunity)

Invest est in in pl place ace an and d li livability ability WHAT ARE THOSE ELEMENTS?

En Encourage courage lo local cal bu businesse sinesses. s. WHAT ARE THOSE ELEMENTS?  Main Streets  Façade improvements programs  Small business loans  Predictability (permitting, zoning, etc.)