OSPCD - Economic Development
The mission of Economic Development is to foster the stability and growth in the City's economy and its commercial areas. This division is committed to bringing new business to Somerville while working with existing businesses to ensure their success. Economic Development provides resources for helping interested businesses with site location, technical assistance, grants and loans, and other relevant information.
Economic Development improves and stabilizes Somerville's economy by providing business assistance to existing and emerging businesses. It protects and preserves the city's history in order to attract visitors into the area. The Economic Development division actively develops areas in the city to promote commercial industry and the growth of industry clusters.
Somerville has several business assistance programs, including the
Commercial Property Improvement Program, the Small Business Assistance Program,
financing opportunities, and more. For information on Economic Developments business assistance programs and other promotional organizations, follow the link above.
Real Estate Development: In addition to providing business assistance in Somerville, Economic Development also plays a role in the redevelopment and enhancement of specific neighborhoods in the city through infrastructure and Brownfield cleanup projects. This division has also been instrumental in promoting the expansion of the Green Line through Somerville and orchestrating various development projects. For information on projects relating to economic development in Somerville, see the links on the right under Projects.
The key industries in Somerville are health services, retail, business services and creative design. Somerville's local economic base is heavily influenced by three factors: its dense residential population, the nature of its commercial and industrial building stock, and its proximity to Boston. The high residential population supports vibrant retail (and eating/drinking) clusters across a number of small and medium size commercial squares.The service industries, health, business and creative design, are heavily integrated both through suppliers and customers with regional hubs in Boston and Cambridge.Somerville's small land area and dispersed development areas are better matched with niche firms and specialized offices than large headquarters, R&D facilities or big manufacturing operations. While not large in terms of people employed, a diverse group of industrial firms maintain the city's history of artisans craftsmanship.