Canton, Massachusetts · Saved source text

Article 3 - Hear Reports Appointed at Prior Town Meetings - EDC Report for ATM 2023 May 8 2023 pdf file

Town Meeting · Record date 2023-05-08 · Record d45e50854926ae0dca

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CANTON
Economic Development
Committee Update
May 8th, 2023

Economic Development in Canton is a top priority of
the Select Board with the following 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

Canton Business Development
Headlines 2022

   A 'Hole-In-One': Topgolf
    Announces First Massachusetts
    Location at 777 Dedham Street.
   88 Acres moves manufacturing
    operation from Boston to
    Canton at 85 John Road
   Amazon launches first 100%
    Electric Vehicles in MA at
    Canton Distribution Facility at
    their 300 Dan Road and
    announces a second Canton
    office at 250 Royall Street
    which will handle HR and
    Training for Eastern
    Massachusetts offices.            Confidential and Proprietary

Canton Maintains Strong Economic Development
Growth Despite Financial Headwinds Nationally.




                                Confidential and Proprietary

Impact of Economic Development on
Canton

    The Canton Business Community paid over $31 million in
    commercial and industrial taxes in 2022, which is 39% of
    tax levy.
   The commercial and industrial valuation of businesses in
    Canton is over $1.5 billion.
   Canton is one of the top Norfolk County communities in
    commercial taxes generated.
   Canton’s residential tax rate (per thousand dollars of assessed
    value) dropped to $10.57 in 2023 and our commercial rate is
    $21.57. Both rates are down from FY 2022
   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 Similar Norfolk County
Municipalities for 2022


 CANTON: 39.46%
 Braintree: 35.51%
 Dedham: 29.74%
 Stoughton: 28.39%
 Quincy: 24.44%
 Randolph: 20.77%
 Sharon: 7.79%
 Milton: 6.27%
 Source: MA DOR, Div. of Local Services, 3/30/23
                                    Confidential and Proprietary

Canton Businesses Practice Community
Responsibility and Engagement


   Over 25 Canton businesses offer
    annual scholarships to CHS and
    BHRS students.
   In 2022, over $35,000 was donated
    to Canton Municipal
    Departments/Schools & Senior
    Center, and the Food Pantry from
    the Canton Business Community.
   Since its inception over 50 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 Trillium Brewing with
    over 600 runners.

                                           Confidential and Proprietary

Points 32 Health $60,000 Donation to purchase of
New Canton Council of Aging Van




                                   Confidential and Proprietary

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


 Gene Manning
 Emilio Mauro
 Dr. Alan Rapoport
 Tera Kull
 Hamilton Rodrigues
 Manny Montrond
 Herb Cohen
 Ryan Obolewicz
                                  Confidential and Proprietary