Canton, Massachusetts · Saved source text

Article 3 - Hear Reports - Economic Development Committee 2019

Town Meeting · Record year 2019 · Record 07c3ae96cc8567b67d

Saved text from 11 source pages. Transcription and OCR may contain errors; verify figures and wording against the original. Retrieved 2026-10-15.

Canton Economic
Development 2019
Committee Update

Canton Business Highlights

 Sale of Reebok/Adidas
  Campus to Spear
  Spear Street Capital.
 Prodrive selection of
  Canton as their new
  US Headquarters.
 Trillium Brewing
  acquisition of 100
  Royall Street

                          Confidential and Proprietary

Spear Street Capital Property




                       Confidential and Proprietary

Canton Economic Development is a
top priority of town initiatives.

   Maintain and grow a strong
    and vibrant business
    community
   Insure stable commercial tax
    revenue cash flow for town
    services.
   Increase property values of
    residential and business in
    our community by insuring a
    growth orientated economic
    development plan.
   Maintain Canton’s
    outstanding reputation of a
    pro-active business friendly
    community in MA.
                                   Confidential and Proprietary

Economic Development Impact on
Canton.

    Business taxes contributed over $26,000,000 million in
    taxes in FY 2018/19, 33% of town revenue.
   The commercial/industrial valuations of business in Canton is
    over $1.9 billion.
   Hotel Tax Revenue $420,000. Second hotel under construction
    on Royall Street opening in 2020, and we are projecting
    $500,000 in new tax revenue for our town.
   Canton is in the top two of Norfolk County communities with the
    highest percentage of commercial taxes generated.
   Canton’s residential tax rate dropped to $12.40 in FY 19 and
    commercial $25.77 remains robust. (Both are down from 2018)
   A strong commercial tax base helps keep residential taxes
    low!
                                               Confidential and Proprietary

wy   5-0 orewne te   r

oy 301. 4.180 snag ee                6. Cobb Corner
              Ye

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Source: OnTheMap, Ug. Gganes     Siw: he sane
Property Type Share of Town Tax Levy by Class, 201!

How Do We Stand on Taxes?
Canton’s healthy commercial tax base keeps the
residential tax burden low. Compared to the
surrounding towns, Canton has a large proportion of
tax levy stemming from Commercial and Industrial
properties. Relative to assessed values, average single
family tax bills in Canton are among the lowest.

Avg. Single Farnily Tax Bi as 2 Percentage of Assessed Value. 2018

1                    ”                i
159% 351% 1.48% LAS%
LOWS 9 fa
Norwood            t

Sharon Randolph Westwood Stoughton Dedham — Milton Canton Norwood       ® Residential

————

a                      Source: Division of Local Services, Mi

ae
——SSSS Se                   Sl
CANTON                    :

Commercial & Industrial © Personal Property

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Confidential and Proprietary

Economic Development

Jobs and Residents in Canton                         What is the Job
30,000
——                           a Oe
Sei          petty    The Town of Canton is projected
20,000                                   a                                             pulation             ;

%                                                                                                                                   to continue to have more jobs
15,000                                                                                                                   than residents. In 2017 Canton
10,000                                                                                                                  had 1.04 jobs for every resident,

2001             2006             2011             2016             2021             2026         compared to 0.61 in the Boston
1 EMS                                         :

%                              .                                                                                       metro area as a whole.

C onfiddentaland P ropretary

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Confidential and Proprietary

Article 21 Update

   Will ask for a Five (5) Year TIF/STA on the Spear Street Capital
    property.
   25% of the site, 100 Royall Street was sold to Trillium in March
    2019 for $13.5 million.
   Street address was renamed to 1 Orchard Way and the primary
    building and property is being marketed “The Block”
   BOS, Building Department, ZBA, Planning Board and ConCom
    will have full authority over development of the site.
   Taxes are continuing to paid on the property.


.
                                               Confidential and Proprietary

The Canton Business Community Practices
Community Responsibility


 Over 18 Canton businesses offer annual
  scholarships to high school students.
 In 2018 over $20,000 was donated to Canton
  Municipal Departments/Schools & Senior Center,
  and the Food Pantry from the Canton Business
  Community.
 Since it’s inception over 40 years ago CABI, has
  donated over $1 million dollars to Canton charities.
 CABI runs the annual Canton Road Race held each
  September with over 600 runners held at Papas
  Rehabilitation Center.               Confidential and Proprietary

Canton, MA is the home of over 150
top companies including:

   Trillium Brewing
   Dunkin Brands
   FIS Global
   Computershare
   Boston Mutual Insurance
   Pepsi
   Meditech
   Armstrong Pharmaceutical
   Organogenesis
   Harbar
   One Beacon Insurance.
   Underwriters Laboratory
   Fresenius Kabi
                               Confidential and Proprietary

Canton EDC greatly appreciates the support of the
BOS, Town Boards and Committees.


 Gene Manning
 Emilio Mauro
 Alan Rapoport
 Hamilton Rodrigues
 Manny Montrond




                                  Confidential and Proprietary