Marlborough, MA, September 29, 2018 --(PR.com
)-- The Marlborough Economic Development Corporation (MEDC) announced last night it has finalized its first ever property purchase of a plot of land at 325 Lincoln Street in Marlborough. MEDC also revealed it has become the first and only community to partner with the popular TV program Phantom Gourmet to help promote the city as a destination for visitors, residents, employers and amenities.
MEDC executive director, Meredith Harris, shared the news with a record crowd of about 100 local business and community leaders, who had gathered at Apex Entertainment in Marlborough to celebrate the organization’s 12th anniversary at its annual Founders Reception.
The land, knows as the Fossile lot, was purchased with funds provided by the Marlborough City Council and will be used to spur a renaissance of the French Hill area and bring in new investment into the city. An application to designate the parcel a priority development site under the state’s Chapter 43D expedited permitting program is currently under process, along with a MassWorks grant application for $4M, which will be used to improve infrastructure from Broad Street to the Assabet River Rail Trial along Lincoln Street.
MEDC’s year-long Phantom Gourmet partnership involves the production of a 30-second commercial, which is already running weekly on the show. In addition, MEDC will get access to a number of major public events where it can continue to promote Marlborough directly to thousands of people across New England.
Founders Reception attendees also got an exclusive sneak peek at Marlborough’s newest promotional video, which MEDC produced this summer as part of its marketing strategy. The full video will be released to the public in the coming weeks.
Celebrating MEDC’s string of successes over the past year, Harris said that more than 40 companies moved to or expanded in Marlborough, creating at least 450 new jobs and filling over 300,000 SF of commercial space. She also highlighted the results of the MEDC Economic Development Toolbox program, which has helped add 163 jobs, retain 22 jobs and fill 74,700 SF of commercial space to date, as well as attract two new brewpubs that are set to open in downtown Marlborough over the next year. Harris also pointed out that there are a number of residential projects currently being planned for the downtown area, which bodes well for MEDC’s long-term plans for the city.
“We have achieved so much over the past year, but there is so much more work to do,” Harris said. “Over the next few years, we are going to focus our efforts on downtown development, amenities attraction, investment incentives and promotional projects, which will continue to move our city’s economy in the right direction. The purchase of the Fossile lot is a historic moment for MEDC and the city. With the right developer and the right project, this plot can be a real catalyst for major change in that area.”
“MEDC has been doing a fantastic job over the past few years, and we’re very happy with the progress Marlborough has made,” said Marlborough Mayor Arthur Vigeant. “Their efforts have helped bring additional revenue to the city, which has contributed to the improvement and expansion of our services for city residents.”
For a high resolution image of the Founders Reception go to: https://www.dropbox.com/sh/g66z7kjhp8in8sh/AAC5VNj-9NRJbrRqpX74LP7Za?dl=0
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.