Economic Development Strategy, Planning, and Evaluation
Mt. Auburn provides a full range of consulting services in the field of economic development analysis and strategy. Working with a variety of public and private organizations, the firm creates effective economic development policies and programs that promote economic growth and stability, job generation, and the improved functioning of capital markets.
recent projects
Utilizing Tax Incentives to Cultivate Cultural Industries and Spur Arts-Related Development
Parks and Beaches: Common Cents for the Commonwealth
Economic Vitality & Competitive Cities
Louisiana: Where Culture Means Business
World Trade Center Economic Recovery: Rebuilding the Economy of Lower Manhattan
Beyond
the Crossroads:
Positioning Nashua to Compete in the Global Economy.
Mt. Auburn recently completed a strategic economic development plan for Nashua. The plan was an update to Mt. Auburn’s previous plan for Nashua completed in 1991. After 14 years of implementation activity, the city of Nashua asked Mt. Auburn to complete a new economic development strategy to guide the city over the next decade. The original report, was a multi-faceted strategic plan for a community struggling to cope with the impact of a New England recession and defense cutbacks. The project included an analysis of the economic structure of the region, with particular attention to the community's dependence on the defense industry. The diversification strategy developed for the region focused particular attention on stimulating high-tech entrepreneurship. The Plan has been highlighted as a model in a Handbook on Defense Adjustment published by the National League of Cities. The plan led to the establishment of the Center for Economic Development in Nashua, the creation of the Nashua region Software Association, the development of a successful small business incubator, and the design and implementation of an EDA Revolving Loan Fund.
The new strategy suggests that Nashua build on its strengths to define its niche within the Boston metropolitan area as a family haven, an enterprise hatchery, an engineering center, and a retailing mecca. Specific recommendations fell into five categories:
-
Sustain the city’s quality of life. Specific recommendations were made regarding improvements to downtown and necessary investments to maintain the city’s status as a retail mecca.
-
Accelerate enterprise development. Recommendations included the creation of an innovation acceleration center; steps to support immigrant entrepreneurs, and suggestions for better focusing the revolving loan fund.
-
Invest in marketing the city. Specific recommendations were made regarding business retention and strategic business recruitment.
-
Advance a public-private sector collaborative culture to economic development. The report recommends that Nashua create a blue ribbon panel on the development process in the city.
-
Address regional housing and workforce challenges. The report concludes that Nashua needs to work collaboratively with regional stakeholders to address the issues of housing and to create career ladders for low- and moderate-income residents.
