Marlborough, MA is rapidly becoming known as a small city with a competitive edge. The Boston Globe Magazine named Marlborough among its 2016 Game Changers—the only community on the list of 46 “innovators, who had the leadership, vision and determination to make a difference in the lives of people.”
The main drivers of Marlborough’s economy are the large regional, national and global headquarters of leading corporations, including GE Healthcare Life Sciences, Boston Scientific, Quest Diagnostics, Sunovion, Hologic, SanDisk, TJX Companies, Raytheon and many more major companies from the life sciences, manufacturing, high tech, financial services, and other industries. Still, small and local businesses—service providers, small manufacturers and retailers—make up the majority of Marlborough’s business community and provide a strong base for the local economy.
Through the Marlborough Economic Development Corporation, the city continues to aggressively focus on economic development and community revitalization, with an eye on improving the quality of life and stabilizing the residential tax rate. As of 2016, approximately 2,450 business establishments in Marlborough provided 31,434 jobs and generated annual sales estimated at roughly $6 trillion.
There are a dozen banks located in Marlborough, MA, three of which are headquartered in the city—Marlborough Savings Bank, St. Mary’s Credit Union and Digital Federal Credit Union, which is one of the largest employers in the city. Founded by local shoe barons as a way for their factory workers to save money, Marlborough Savings Bank is the city’s oldest bank, having celebrated its 350th anniversary in 2010. MSB recently constructed a new headquarters in the downtown area, adding tremendous value to the city. Here are the banks currently doing business in Marlborough:
256 Maple Street, Marlborough, MA • 508-303-0330
Bank of America
223 East Main Street, Marlborough, MA • 508-485-8768
190 Boston Post Road West, Marlborough, MA • 508-485-8903
601 Donald Lynch Boulevard, Marlborough, MA • 508-303-0737
96 South Bolton Street, Marlborough, MA • 508-485-5003
322 Maple Street, Marlborough, MA • 508-303-3399
Digital Federal Credit Union
800-328-8797 • 508-263-6700
220 Donald Lynch Boulevard, Marlborough, MA
279 East Main Street, Marlborough, MA
865 Donald Lynch Boulevard, Marlborough, MA
Main Street Bank
81 Granger Boulevard, Marlborough, MA • 508-481-8300
71 Boston Post Road East, Marlborough, MA • 508-460-4142
People’s United Bank
234 East Main Street, Marlborough, MA • 508-485-4300
RTN Federal Credit Union
451 Boston Post Road East, Marlborough, MA • 508-480-0500
181 Main Street, Marlborough, MA • 508-485-2898
St. Mary’s Credit Union
866-585-7628 • 508-490-8000
46 Lizotte Drive, Marlborough, MA
133 South Bolton Street, Marlborough, MA
133 West Main Street, Marlborough, MA
1 Northboro Road, Marlborough, MA
133 East Main Street, Marlborough, MA • 508-786-9720
In 1836, Samuel Boyd, known as the “father of the city,” opened the first shoe manufacturing business in Marlborough. By 1890, with the establishment of The Frye Boot Company, the city was a major shoe-manufacturing center, producing footwear for Union soldiers and local citizens. This continued well into the 1970s, when the Rockport Company was founded in the city.
In the 1980s, manufacturing gave way to high technology and other specialized industries. With the construction of the Mass Turnpike and Routes 495 and 290 opening up easy access to the city, Marlborough solidified its position as the crossroads of New England.