Worcester Business Journal

16 Worcester Business Journal | October 31, 2022 | wbjournal.com H ow is your organization unique or different from others of its kind? MEDC is structured differently than any other economic development (groups) we have seen in the Commonwealth. We are a quasi-public, non-profit organization that works on behalf of the city to stabilize the residential tax base by maintaining a solid commercial base. We have a full- time staff with a budget that is funded solely by the local option rooms tax so it gives us a little bit more autonomy to do things that we might not be able to do as a tradi- tional city department. How does a city or town become more business friendly? It has a lot to do with reaching out – making sure the businesses that are coming in and the ones that are already here know who to call when they need assistance. It's equally as important to make sure that when someone calls with an issue, we are available to react, respond and help them get results or even just an answer. Whatever they need, we're here to help them. How was Marlborough able to cope during the pandemic and how did economic development continue during that time? Marlbourough was well situated during the pandemic from a business standpoint. A lot of the companies that we've drawn in over the last 10-12 years were life science based and advanced manufacturing, so the companies never stopped during the pandemic. They were growing and doing more work than they had been doing pre-pandemic. Also, during the pandemic, we launched a special grant program for small busi- nesses to help them offset re-opening costs once the state started re-opening. Many restaurants and small business owners had to shift their business models and buy things like plexiglass and PPE and convert to outdoor dining which they weren't prepared for. We provided over 30 grants to make sure they were able to pivot with less interruption to their business. What is the MEDC Toolbox? The MEDC Toolbox is a suite of financial incentives we have available for small to mid-size companies looking to come into Marlborough or businesses that are already here and growing or expanding their footprint. Both grants and loans are available and vary depending on the program. Applications are available on our website. What is the Revolving Loan Fund Program? The Marlborough Revolving Loan Fund is part of the MEDC Toolbox and is a partnership between DCU, Avidia Bank, Main Street Bank, St. Mary's Credit Union and the City of Marlborough. Loans are available for smaller companies or entrepre- neurs looking to start or expand their operations. The fund is intended to serve as a gap financing program to help when a business owner might not be able to secure the total funds they need through traditional financing. How do you garner support from the community for your efforts and why is that support important? We try to put ourselves out there and make ourselves accessible. We offer a live video podcast that runs on YouTube and Facebook the first Wednesday of every month allowing residents and business owners to engage with us directly and ask questions. We try to make sure everything we do is transparent and available. We also put out an annual report and stay active on social media to make sure people know what we're doing. We want to make sure the community knows why we are doing what we're doing and how it directly affects them. What are recent examples of MEDC's work that make you proud? We have a large project that will break ground early next year at the corner of Lincoln/Mechanic Streets called Alta Marlborough. The site of the project has been a priority for the city for over 30 years. We have been working with the city for the past several years to attract a reputable and able developer to bring a mixed-use project that would breathe new life into the area. We are proud to say that a brand- new development with 276 residential units, 10,000 SF of commercial space, and on-site parking will soon be available. In addition, the developer will be making improvements along the Assabet River Rail Trail and providing facilities for resi- dents to access while using the trail. We're also proud of the companies that continue to choose Marlborough. BJ's moved their corporate headquarters here last year along with Aspen Aerogels, Resilience and Stage Bio. There's a lot of growth in the life sciences and activity going on in advanced manufacturing and we're excited to be a part of that. MEDC also puts a large focus on school to business partnerships—working with the public schools to ensure that the companies we are bringing in are providing opportunities to our students through things like work-based learning and hands on training. This also benefits the companies by ensuring there is a workforce pipeline readily available. FB Address: 91 Main Street, Suite 204, Marlborough, MA 01752 Phone: 508-229-2010 Website: marlboroughedc.com Executive Director: Meredith Harris, mharris@marlboroughedc.com Year Founded: 2006 Marlborough Economic Development Corporation Meredith Harris, Executive Director Sponsored Article

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