- The business tax base in Haverhill has declined sharply over the last 5 years compared to similar cities, slowing commercial and industrial growth. - A new economic development office and projects like Harbor Place are helping to catalyze new opportunities downtown. - However, a major gap remains in catalyzing long term industrial growth. The recommendation is to research the feasibility of an advanced manufacturing research and training center to fill this gap, using examples from other regions. This could help meet the city's long term financial and economic needs.

1. Bottom Line Up Front
• Problem:
• Data reveals sharp decline in business tax base growth in last 5 years
• Catalyst for commercial growth Harbor Place underway
• Spawning new commercial opportunities downtown
• New consultants in economic development office off and running
• Addressing new leads in downtown & industrial parks
• Major gap: catalyst for long term industrial growth
• Innovation economy transforming manufacturing quickly
• Hypotheses: Need niche & research/training center in advanced manufacturing
• Example research and training centers identified
• Why Haverhill needs leap in business tax base
• Recommendation

2. Haverhill Commercial, Industrial & Personal Property
(CIP) Growth 2016
*Tax Increment
Financing (TIF)
Incentive
Delays Tax Benefit
of Recent
Development
Commercial &
Industrial
Tax Base Growth
Small in 2016
Source: City Assessor

3. Haverhill Commercial, Industrial & Personal Property
(CIP) Growth 2007 - 2016
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
CIP Total
Personal Property
Commercial and
Industrial
Commercial &
Industrial
Tax Base Growth
Declined Sharply
in Last Six Years
Source: City Assessor
*Tax Increment
Financing (TIF)
Incentive
Delays Tax Benefit
of Recent
Development

4. Haverhill CIP Growth vs. Similar Cities
0
1000000
2000000
3000000
4000000
5000000
6000000
2012 2013 2014 2015 2016
Commercial &
Industrial
Tax Base Growth
Declined in Last
5 Years vs.
Similar Cities
Source:
City Assessor
*Tax Increment
Financing (TIF)
Incentive
Delays Tax Benefit
of Recent
Development

5. Harbor Place Commercial Growth Catalyst in
Downtown
Domino Effect
Started
Downtown
Investors
Source: Harbor Place
Source: Eagle Tribune

6. New Economic Development Resources
2014
• William Pillsbury, Director
2016
• William Pillsbury, Director
• Noah Koretz, Planner
• Nate Robertson, Economic Dev.
• Allison Campbell, Marketing
Investors
Identifying &
Addressing New
Leads in
Downtown &
Industrial Parks
Source: Eagle Tribune

7. • Hypotheses: Need niche & research/training center in advanced
manufacturing
• Examples:
• The Massachusetts Green High Performance Computing Center
(MGHPCC) in Holyoke
• Factory 2050 at UK’s Sheffield University
• Georgia Tech Internet of Things Research Center
• Advanced manufacturing workforce development training center, in
conjunction with NECC, HHS, Whittier Vo-Tech, UMASS/Lowell & industry
(concept)
Gap: Catalyst for Long Term Industrial Growth

8. Why Haverhill Needs Leap in Business Tax Base
• Meet its long term financial needs
• Provide good jobs at every level to reflect our diversity
• Turn around our challenging neighborhoods and improve our quality
of life
• Provide support and funding needed to
continue improving public education
Fantini Bakery $3M Expansion in
Mount Washington NeighborhoodFamily owned since 1902Sources: Fantini Bakery & MB

9. Recommendation
• Request that Economic Development Director/Team:
• Perform market research to establish niche in advanced manufacturing
• Address value and feasibility of a research/training center in advanced
manufacturing
Thank You