The Crossroads of Commerce – Woburn and the Routes 95/128 Corridor
The past decade has propelled the North Suburban Boston region into unprecedented economic growth. It is estimated that more than 10,000 companies reside in the area encompassing a five-mile radius from our central community of Woburn. These companies range from home-based entrepreneurs to corporate giants such as Lexington’s Raytheon Company. The area is a significant employment center for thousands of residents throughout northeastern Massachusetts.
With access to a highly educated labor force coming out of the multitude of universities and colleges in the Boston area, the North Suburban region’s proximity to skilled labor suitable for high technology industries has made it a coveted location. Access to transportation facilities as well as a high quality of life in the region makes our area powerful in its ability to attract and retain high-quality business and industry.
The area boasts many of the most technologically advanced companies in the world, and many major defense contractors supplying key national defense components to Hanscom Air Force Base in Bedford.
Many hotels accommodate both tourism and business travelers, ranging from full-service business-oriented facilities with convention and meeting space to affordable extended stay and lower-priced locations catering to both long-term business and tourists.
The North Suburban region is home to millions of square feet of office and industrial real estate. There is more than three million square feet of office and industrial space in Woburn alone. Hundreds of thousands more square feet of space can be found in Burlington, and light to moderate industrial use properties are found throughout the region.
In addition, in July 2013, Woburn became the state of Massachusetts’s newest area for economic target as reported in the Daily Times Chronicle. The economic target area (ETA) distinction, part of the Massachusetts Economic Development Incentive Program (EDIP) will also assist the city’s efforts to attract even more new commercial and industrial businesses in a targeted and sustainable fashion. Woburn’s ETA is in addition to and complementary to Woburn’s designation by the Massachusetts Biotechnology Council as a “Platinum Community” (their top-ranking award) which was based on the city’s work to adopt policies that support the development of biotech laboratories and manufacturing facilities.
Now, more than ever, is a great time to join the North Suburban Chamber of Commerce; where the community is getting more stable, more connected, more progressive, and much stronger.