Canton, Massachusetts · Saved source text

Article 3 - Hear Reports Appointed at Prior Town Meetings - EDC Committee Report for ATM 2022 v.2.pdf pdf file

Town Meeting · Record year 2022 · Record 99da20bc8df468f574

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CANTON
Economic Development
Committee 2022 Update

EM1




      Canton Business Highlights

       Points 32 Health Care
        Property and PILOT
        implementation
       Amazon opens regional
        site
       Trillium Brewing
        Company’s opening of
        100 Royall Street
        brewery and restaurant.

                                  Confidential and Proprietary

Slide 2

EM1       Emilio Mauro, 3/21/2022

Points 32 HealthCare
Headquarters




                       Confidential and Proprietary

Economic development in Canton is a
top priority of town initiatives.

   Maintain and grow a strong
    and vibrant business
    community
   Ensure stable commercial
    tax revenue cash flow for
    town services
   Increase property values of
    residences and businesses
    in our community by
    ensuring a growth-orientated
    economic development plan
   Maintain Canton’s
    outstanding reputation as a
    proactive business-friendly
    community in MA
                                   Confidential and Proprietary

Impact of Economic Development on
Canton

    Business taxes contributed $29 million in taxes in
    FY 2021, which is 35% of town revenue.
   The commercial/industrial valuation of businesses in Canton is
    over $1.5 billion.
   Over $110 million in new business projects projected in Canton
    in Fiscal Years 2022-2024.
   Canton is one of the top Norfolk County communities with the
    highest percentage of commercial taxes generated.
   Canton’s residential tax rate (per thousand dollars of assessed
    value) dropped to $11.35 in FY 2021 and its commercial rate is
    $24.18. Both rates are down from FY 2020.
   A strong commercial tax base helps keep residential taxes
    low!
                                               Confidential and Proprietary

Comparison of Commercial/Industrial Tax as a
Percent of Total Levy in Selected Norfolk County
Municipalities for 2021


 CANTON: 38.95%
 Dedham: 31.35%
 Stoughton: 24.4%
 Quincy: 24.37%
 Randolph: 20.05%
 Sharon: 8.87%
 Milton: 6.28%
 Source: MA DOR, Div. of Local Services, 3/21/22


                                    Confidential and Proprietary

Canton Businesses Practice Community
Responsibility and Outreach


 Over 20 Canton businesses offer annual
  scholarships to high school students.
 In 2021, over $25,000 was donated to Canton
  Municipal Departments/Schools & Senior Center,
  and the Food Pantry from the Canton Business
  Community.
 Since its inception over 40 years ago, CABI has
  donated over $2 million dollars to Canton charities.
 CABI hosts the annual Canton Road Race, which is
  held each September at Papas Rehabilitation Center
  with over 600 runners.              Confidential and Proprietary

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

   Points 32 Healthcare
   Amazon
   Prodrive, Corporate US Headquarters
   Trillium Brewing Company
   Dunkin Brands
   FIS Global
   Boston Mutual Insurance
   Pepsi
   Meditech
   Armstrong Pharmaceuticals
   Organogenesis
   Harbar
   Underwriters Laboratories
   Fresenius Kabi                        Confidential and Proprietary

Canton EDC greatly appreciates the support of the
SB and other Town Boards and Committees.


 Gene Manning
 Emilio Mauro
 Alan Rapoport
 Tera Kull
 Hamilton Rodrigues
 Manny Montrond
 Meg LaMay


                                  Confidential and Proprietary