(Boston Orange)

Boston Mayor delivered her annual speech to the Greater Boston Chamber of Commerce.

Good morning, everyone. Thank you to Jim, Corey, and everyone at the Chamber for convening us today.

Thank you to my colleagues in elected office here for your service, and congratulations to the City Councilors for your strong showing in the Prelim as you gear up for November. And thank you, Miceal, for your kind introduction and for your partnership in creating and capitalizing on remarkable opportunities for Boston, from putting Boston on the global stage every Marathon Monday, to watching out for our neighborhoods. Congratulations on the recent news that Bank of America will be the financing partner for Boston Legacy FC to join with the City of Boston, and after decades of broken promises and failed plans, finally redevelop White Stadium to give our Boston Public Schools students what they deserve, which is the very best.

Speaking of our young people: I have two very happy BPS students in my household with the news that both Lego and now Hasbro will move their headquarters to Boston by the end of 2026. Not only will this bring 1500 jobs to our city, it means that now, when the kids are begging for that Millenium Falcon Lego set at Target, they’ll go straight to, “But mom, don’t you want to support the local economy?”

I think it’s fair to say these moves make Boston the toy capital of the world. And in all seriousness, these aren’t small moves. These are global companies with lots of options, 

and they join other global powerhouses who are choosing Boston as the hub of talent and opportunity.

Last week I spoke with Joe Bae to celebrate KKR’s expansion in Boston, leasing more than 130,000 square feet of office space in the financial district. And then I joined Noubar Afeyan on stage at Leader Bank Pavilion to greet 3,000 scientists and innovators gathered together for Flagship Pioneering’s celebration of 25 years launching 100

companies in the life sciences.

Hasbro, LEGO, Foundation Medicine, Eli Lilly, Bain, Ropes and Gray, PwC, Vertex, and companies of every scale are choosing to build or expand their footprint here; and in

every conversation with these CEOs and their teams, I hear the same theme: They’re choosing Boston because of our people.

So today I want to focus my remarks on what competitiveness actually means: Not clinging onto corporate tax cuts on the backs of Boston’s homeowners and seniors; not trying to undo the Millionaire’s tax and other revenue sources to strain state and municipal budgets even further.

Competitiveness in this economy and in this moment means working together to nurture, recruit, and promote top talent—building up the community and workforce that any company would consider relocating to join.

So when I say I’m fighting to make Boston a home for everyone, I’m talking about making Boston the human capital capital of the world—the talent capital of the world. When I highlight that Boston is the safest major city in America, I’m emphasizing our determination to uphold the highest standards for safety and belonging so talent can thrive and businesses can grow.

When I push to expand fare-free bus service, it’s to make the ultimate capitalist investment in removing friction from our economy by getting talent where they need to go: To our world-class universities, to work, and to restaurants and shops.

When I work to expand our free museum program, called Boston Family Days, it’s to

help everyone in our workforce give their children the world and for our children, the

next generation of talent, to cultivate their spark of creativity, wonder, and discovery.

When I push to narrow health disparities and build pipelines from our schools into

health careers, it’s because a healthy workforce is a strong and sustainable one.

When I say Boston won’t back down from being a beacon of freedom, I’m talking about

standing strong to protect and recruit scientists and researchers, immigrant innovators

and essential workers, and every American seeking a welcoming community, where we

are free to live our lives in full bloom and give our all to the next big idea that can

change the world.

When I say this is our city, I mean for nearly 400 years, Boston has refused to bow down

or sit back in times of challenge. And we are determined, no matter who comes at us, to

make this the best place to raise a family, whether you were born here, came here to

study, or came here to find safety and opportunity.

City of Champions, City on a hill, Hub of the universe’s top talent. You can’t beat Boston.

Up against federal threats, rising tides, and chaotic markets, Boston is and will be the best place to build a business because we are making Boston the best place for families of every culture and every generation.

Two weeks ago, those families—that talent pool—had something to say at the ballot box.

Every election is a referendum. September 9th showed that the people of Boston reward

results.

Over the past four years, our administration, working alongside our city, state, and

federal partners, and supported by partnerships with every sector, implemented a

whole-of-government approach to make Boston the best city for families.

And we got results:

We’re the safest major city in America, driving violence and crimes down to 70-year lows.

There are more than 1,000 new first-time homeowners in Boston, more than ever

before. 1,400 families have been stabilized through our Acquisition program, which

takes properties off the speculative market and makes them permanently affordable.

Thank you to our partners in funding this work, Mass General Brigham, Boston

Children’s, Beth Israel, Dana-Farber, Boston Medical, Tufts Medicine, Eastern Bank, the

Boston Foundation and Barr Foundation for your partnership and for recognizing that

your workforce—from PAs, CNAs and nurses to doctors, custodians, and office

staff—should be able to afford to live in the city they serve.

$35 million in grants to more than 1,500 small businesses, more than 70% of them

owned by people of color. 5,000 free Boston preK seats for our youngest learners. 10,000

students working paid youth summer jobs, the most ever. 12,000 units of housing

delivered since taking office, with tens of thousands more approved and on the way.

65,000 free museum visits for Boston students and their families, with a new

performing arts lineup to be announced this week. Nearly 20 million trips on our

fare-free bus routes.

Because at the end of the day, when we invest in our kids and our families, we invest in

the future of our city and the future of your businesses.

But I want to be clear. We can’t build the best city to raise a family by slashing corporate

taxes, and either making it more expensive for residents to live here or cutting funding

for our teachers, parks, and transportation. That’s bad for business and bad for Boston.

It’s because Boston is the best place to raise a family that we have an amazing talent

pool. It’s because Boston is the best place to raise a family that businesses are moving

here in droves.

The numbers tell the story: In the second quarter of 2025, businesses signed deals to

lease 1.8 million square feet of office space—a 94% jump from last year. We’ve cut our

office vacancy rate nearly in half compared to two-and-a-half years ago. During that

period, thanks to the hard work of the Downtown Business Alliance, we’ve added more

than 50 small retail businesses Downtown, with several exciting restaurants set to open

soon.

Boston has 500 more business establishments than we did last year. And major brands

are putting down roots for the long haul. Apple and Ralph Lauren bought their Back

Bay stores outright, and J. Crew just opened a large flagship store pushing Newbury

Street’s record-low vacancy rate even lower.

At the same time, our innovation economy is thriving. Klaviyo signed a significant

office expansion earlier this year. And Boston is fast becoming a hub from quantum and

AI. NVIDIA and Qblox are expanding here, and Dynatrace just opened its global

headquarters on Atlantic Wharf.

We’re also leading on climate innovation. Climeaction expanded from Ireland to Boston

in March, investing $27 million to push forward digital agriculture and decarbonization

and build the industries of the future right here in Boston.

Downtown, we’re leading the nation in turning offices into homes. Less than two years

after launching our office-to-residential conversion program, we already have nearly

1000 units in the pipeline. That’s space for thousands of new residents: Families,

workers, and students who will bring new life to our core.

And soon, thanks to the hard work from Chief of Planning Kairos Shen and his team,

new downtown zoning to protect the historic core and create predictability for new

residential development will unlock even more possibility. From retail to startups to

biotech to the next wave of science and technology, your companies are betting on

Boston.

It’s the right bet.

Amid an uncertain national economy, Boston’s payroll employment is now 2.2% higher

than pre-pandemic, and more Bostonians than ever are working jobs thanks to the

partners in this room.

Boston’s answer to interference has never been retreat. It’s been resolve. We’ve never

asked permission to do it our way. And we won’t now. Back in May, after months of

targeted attacks by the federal government on many of our anchor industries, the

nation’s two leading credit rating agencies took a long, hard look at our finances and

our economy.

They both awarded Boston a Triple-A bond rating for the 12th consecutive year. They

called our fiscal management sound. Our economy, resilient. Now, we’re using that

rating to issue nearly $500 million in bonds and fund almost 400 projects, from new

libraries to community centers to infrastructure upgrades.

Boston will never back down from pouring into our people. Because we understand

what makes us great is who we’ve got.

Our future will be defined by how strongly we stand together to defend one another.

How we stand together to defend our world-class universities, who provide $72 million

in scholarships to Boston students every year, employ more than 50,000 people, and

generate tens of billions in economic impact for our City. How we stand together to

defend our hospitals and research institutions from illegal funding cuts as they work to

develop vaccines that save lives and change livelihoods. And how we stand together to

protect our community members, whose very lives are on the line.

Standing together is more than just one of our values. It’s the foundation of the

economic strategy that will win the day, standing on the right side of history to chart

our brightest future.

These next few years will not be easy. The federal assault on Boston is far from

finished. But to me, public service has never been about sitting around and waiting for

things to happen. Local government is uniquely positioned to do things. To take

chances. To be proactive. To invest in people and infrastructure and the future.

And what gives me hope is that this work isn’t confined to City Hall. It’s happening right

here—when businesses hire BPS students for summer jobs. In adult education classes.

On our business recruitment taskforce. At block parties. In board rooms. And it’s going

to happen next year, as our city comes together to welcome the world for our 250th

Independence Day, Tall Ships, and the World Cup.

Our city government can’t make progress acting alone. We rely on your partnership and

your counsel to build a better future. If we want an economy that works for everyone,

we have to build it with everyone. And if we build it with everyone, if we stand together,

you can’t beat Boston.

Thank you for your collaboration. This is our city, and I look forward to continuing to

build it up together.