Marlborough, MASS. January 23, 2020 – The City of Marlborough added more than 750 new jobs to its labor market, nudging the unemployment rate to a 19-year low of just 2.0% in November 2019. According to the Executive Office of Workforce Development, the last time the rate fell below 2% was in November 2000, when it had dropped to 1.8%.
More than 20 companies moved to or expanded in Marlborough in 2019, together occupying over 225,000 SF of commercial space. This is according to the Marlborough Economic Development Corporation (MEDC) 2019 Annual Report released yesterday at the organization’s annual Board of Directors meeting, which was held at one of the city’s newest businesses, Venture X.
Some of Marlborough’s largest new move-ins, together occupying more than 180,000 SF, include Candela and Doble Engineering, which relocated their headquarters to the city, and Akoya Bioscience and the Massachusetts Department of Public Health, the latter of which alone brought 200 new jobs from Boston. A number of smaller businesses also opened in the city, including Lost Shoe Brewing Co., Venture X and Nasuni.
The city’s office vacancy rate fell a full percentage point year-over-year to land at 13% and the overall commercial vacancy rate remained steady at 9% in 2019, according to the report. $2,634,488 of new growth, which represents new developments of residential, commercial and industrial real estate, was applied to the city’s levy limit in 2020. The Local Option Rooms Revenue, part of which is used to fund MEDC, was up by 2% in 2019 to reach $ 2,781,370. The Local Option Meals Revenue, all of which goes towards improvements of the city’s parks and fields, rose by nearly 12% to $1,082,259.
During yesterday’s meeting, Harris presented these and many of the MEDC 2019 Annual Report’s other highlights, including the organization’s efforts to revitalize the Downtown and French Hill areas, attract more modern amenities to Marlborough, invest in alternative transportation options and create a unified branding strategy for the city. She also emphasized MEDC’s goals for the year ahead, which will focus on continuing to strengthen relationships with strategic partners to improve the community’s quality of life; oversee and evaluate the city’s commuter shuttle bus program; encourage improvements along Route 20E; and work with the local schools and city departments to unify Marlborough’s brand and messaging and further its image as an ideal community to live, work and play.
“2019 was big for Marlborough and MEDC, as many of the economic development seeds we had been sowing over the past few years began to bear fruit,” wrote MEDC executive director, Meredith Harris, in the report. “The downtown area saw major cultural and commercial upgrades, the local business community and job market expanded, and the city’s brand equity grew significantly, as we launched and developed innovative initiatives.”
During the meeting, the MEDC board elected and confirmed the following new members: Brian Douglass, GM, Cell Culture at GE Healthcare; Karthik Kuppusamy, Vice President & General Manager at Quest Diagnostics; Timothy Nelson, Board Chairman of The Marlborough Regional Chamber of Commerce; and Elaine Osgood, CEO of Atlas Travel & Technology Group.
The following board members are returning to serve the MEDC for another term: Andrea Pion, Mayor Arthur G. Vigeant, Brian Bouvier, Chris Berglund, Chris Horblit, Dan Stanhope, David J. Walton, David K. McCay, Dean Dorazio, Diane C. Mohieldin-Schwartz, Ellen Carlucci, Greg Mitrakas, Esq., Joe Santos, John Logomasini, Katrina Iserman, Michael Murphy, Michael Ossing, Richard Tomanek, Tom Clay, Wes Tuttle, William M. Pezzoni.
View or download the full MEDC 2019 Annual Report at http://marlboroughedc.com/annual-report/.
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The Marlborough Economic Development Corporation (MEDC) is the state chartered economic development corporation for the City of Marlborough, MA and represents a public-private partnership for planning. MEDC works with municipal and private investors to foster economic development, job growth and community revitalization. For a complete overview of MEDC visit MarlboroughEDC.com.
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