NEW BEDFORD –
Tuesday, February 15, 2022 – Today, the
Baker-Polito Administration announced a historic expansion of the Transformative Development
Initiative (TDI), a MassDevelopment program for Gateway Cities
designed to accelerate economic growth within focused districts. The
announcement includes the selection of 12 new districts in Attleboro,
Barnstable (Hyannis), Holyoke, Lawrence, Lowell, Lynn, New Bedford, Pittsfield,
Revere, Springfield, Taunton, and Worcester, and the extension of an
existing district in Fall River. All districts will be awarded TDI
fellows – MassDevelopment employees who will provide on-the-ground
economic development expertise and collaborative leadership in these
cities – and will have access to a range of tools to help accelerate
development, including technical assistance, grants to support local
market development and arts and cultural infrastructure, collaborative
workshops, resources, events, and more. The announcement more than
doubles the size of the program, which currently operates TDI districts
in five Gateway Cities, and represents a $23.7 million investment in
Gateway Cities over three years.
Lieutenant Governor Karyn Polito, Housing and Economic Development
Secretary Mike Kennealy, and MassDevelopment President and CEO Dan Rivera
joined New Bedford Mayor Jon Mitchell and members of the New Bedford
legislative delegation to make the announcement at Hatch Street Studios
in New Bedford, then joined Taunton Mayor Shaunna O’Connell and members
of the Taunton legislative delegation for a walking tour of the new
Taunton TDI district.
“Gateway Cities are home to one-of-a-kind businesses, institutions, and
communities that anchor regional economies across the
Commonwealth,” said Governor Charlie Baker. “Our
Administration was proud to launch MassDevelopment’s Transformative
Development Initiative in 2015 as a mechanism for stimulating economic
growth, and we’re excited to now expand this proven program’s reach in
more than a dozen cities.”
“I was glad to join state and local officials in New Bedford and Taunton
to announce an expansion of MassDevelopment’s Transformative Development
Initiative,” said Lt. Governor Karyn Polito. “Designation as
a TDI District will allow these 13 Gateway City neighborhoods the access
to financial, organizational, and technical resources that can help
create thriving local economies.”
MassDevelopment’s Transformative Development
Initiative works with cross-sector partnerships in
targeted commercial districts in Gateway Cities in order to engage
community members, implement local economic development initiatives, and
spur further public and private investment. Since 2015, MassDevelopment
has invested $20 million in TDI districts through tools such as technical
assistance, real estate investments, grant programs, and fellows who work
in the districts. That investment has directly influenced over $100.2
million in public and private investments in the districts, and assisted
an additional $219.9 million.
“By developing coalitions of local public, private, and nonprofit
partners to make progress toward shared neighborhood goals,
MassDevelopment’s Transformative Development Initiative has become a
proven model for accelerating economic development in Gateway Cities
across Massachusetts,” said Housing and Economic Development
Secretary Mike Kennealy, who serves as chair of MassDevelopment’s
Board of Directors. “This collaborative, street-level approach engages
community members to advance small businesses, activate public spaces,
rethink vacant properties, and more.”
“From new storefront signage and district branding efforts, to planning
studies and vacant building activation, our Transformative Development
Initiative helps Gateway City partners tackle projects that advance
neighborhood goals, stimulate economic activity, and build momentum for
future investment,” said MassDevelopment President and CEO Dan
Rivera. “TDI provides a critical benefit to our urban neighborhoods,
and we’re grateful for the support of the Baker-Polito Administration and
Legislature as we continue to expand its impact across the Commonwealth.”
TDI concentrates economic development activities, resources, and
investments within designated neighborhood areas, known as “TDI
districts,” for a term of two to four years. TDI districts are mixed-use
with a commercial component, compact – with a five-minute walking radius
or less – and are defined by a walkable, dense physical environment. The
12 new districts in Attleboro (Downtown), Barnstable (Hyannis East End),
Holyoke (South High), Lawrence (Broadway/Essex), Lowell (Upper Merrimack
Street), Lynn (Union Street), New Bedford (Acushnet Ave/North End),
Pittsfield (Downtown), Revere (Shirley Avenue), Springfield (Mason
Square), Taunton (Whittenton District), and Worcester (Pleasant Street)
will be active for a term of three years, and the existing district in
Fall River (South Main) will also be extended for a term of three years.
MassDevelopment has previously designated 16 TDI districts across the
Commonwealth, and has provided other support through the program in five
additional cities. Existing districts in Chicopee, Fitchburg, Lawrence,
and Worcester will graduate from the program in June 2022.
“MassDevelopment has been a key partner in the economic and cultural
renaissance in our city,” said Senator Mark Montigny, who has
championed many recent economic development projects in New Bedford
including the arts and cultural renaissance, Route 18 redevelopment, and
ongoing improvements to State Pier. “This additional focus on the North
End will help us ensure that our entire community enjoys direct benefits
from these investments, and I thank the Baker-Polito Administration for
their continued support.”
“There is no question that investments in our Gateway Cities like
MassDevelopment’s Transformative Development Initiative yield positive
economic and community growth where it is needed most,” said
Representative Christopher Hendricks. “It is my honor to represent
the Near North community of New Bedford and I look forward to working
with State officials to maximize the impact of this important
designation.”
“I’m grateful that MassDevelopment has established a TDI District along
The Ave, which for decades has been the physical manifestation of New
Bedford’s ethnic melting pot,” said New Bedford Mayor Jon
Mitchell. “The designation will help energize existing small
businesses, bring new ones to life, and support long-term neighborhood
vitality.”
Defined by the Massachusetts General Laws,
Gateway Cities are small to midsized cities in Massachusetts (population
of between 35,000 and 250,000) that anchor regional economies around the
state, with below state average household incomes and educational
attainment rates. The Legislature defines 26 Gateway Cities in
Massachusetts, including Attleboro, Barnstable, Brockton, Chelsea,
Chicopee, Everett, Fall River, Fitchburg, Haverhill, Holyoke, Lawrence,
Leominster, Lowell, Lynn, Malden, Methuen, New Bedford, Peabody,
Pittsfield, Quincy, Revere, Salem, Springfield, Taunton, Westfield, and
Worcester.
MassDevelopment, the state’s development finance agency and land bank,
works with businesses, nonprofits, banks, and communities to stimulate
economic growth across the Commonwealth. During FY2021, MassDevelopment
financed or managed 416 projects generating investment of more than $1.86
billion in the Massachusetts economy. These projects are estimated to
create or support 6,578 jobs and build or preserve 1,909 housing units. |
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