Economic Development SUMMARY REPORT Fiscal Year 2022
PREPARED BY:
SANDHYA IYER CASEY HAGERTY KATIE JOHNSON
Economic Development Summary Report Fiscal Year 2022
Over the past fiscal year, the Economic Development Office has been busy supporting local businesses through a variety of different avenues. Highlights of the past fiscal year include: • Implementing a small business relief grant program using ARPA Funding • Create a new Tourism brand for Lexington • Began preparing for a new Tourism Website • Unveiled Lexington's Business Toolkit to help new businesses navigate the opening process and permit sequence in Lexington. • Created a "how to" video to explain how to start permitting and licensing in Lexington • Collaborated with local organizations and neighboring Towns to implement events, and projects. and grants This report provides an overview of all the projects and highlights the projects that the ED office has embarked upon. Please contact the Economic Development Office for assistance and information.
Sincerely, Economic Development Office Lexington, Massachusetts
Sandhya Iyer participates in the Bisnow Boston Life SciencesPanel Discussion on Repositioning Existing Buildings for Lab Development on March 31, 2022
Minister of Health (Malaysia) visit to Takeda- (L to R) Sandhya Iyer, Jim Malloy, Minister of Health, Malaysia, Khairy Jamaluddin, and Sean Dugan. June 15, 2022
Casey Hagerty and Sandhya Iyer participate in the Concord Business Breakfast panel discussion on the role of Economic Development in Town Government on April 6, 2022.
Development & Investment Based on the Town’s online permitting system, the value of commercial work in Lexington in FY 22 exceeded $115 million. The number of commercial permits was up 52% over the previous fiscal year. The increase in value is due in part to a large project at Takeda Pharmaceuticals.
Building Commissioner Jim Kelly and Callahan Construction manager, Robin Barry-King , perform an inspection on 1050 Waltham Street
300 Shire Way Takeda recently completed the construction of a new 38,000square-foot commercial cell therapy manufacturing facility. The new $84 million facility will be used for the production of oncology and other cell therapies.
1050 Waltham Street Revolution Labs celebrated a "Topping Off Ceremony" in Fall 2021. The new building is entirely leased and will be completed in Q4 2022
New and Expanded Businesses
EMPLOYMENT Data
12%
Work force is employed in Health Care and Social Assistance
50%
Work force is employed in Professional and Technical Services
1,431 Business Establishments
1.5%
33,394
48
Increase in annual employment in Lexington
Total Employment in Lexington
Life Science Companies located in Lexington
H O T E L & M E A L TA X
Projections for hotels/motels reflect the slow resumption of activity in the hospitality/tourism sector whereas the restaurant industry has rebounded more quickly. Meals reflect approximately 75% of prepandemic revenue levels.
Total Meals Tax Revenue FY 21
Total Hotels Tax Revenue FY 21
$304,647
$356,743
Lexington Town Staff (L-R) Melissa Battite. Katharine Labrecque, Casey Hagerty, Sandhya Iyer, and Kelly Axtell attend the MMA Women Leading Government Conference on March 3, 2022
Town Staff (L-R): Sandhya Iyer, Casey Hagerty, Sheila Page, John Livsey, Ross Morrow, and Dave Pinsonneault visit East Lexington to explore opportunities to improve connections to the businesses in East Lexington to the Bike Path
The Lexington Visitors Center is full of tourists on Patriots' Day 2022.
The Inn at Hastings Park hosts the Greater Merrimack Valley CVB Open House June 17th, 2022
Lexington's Tourism Based Economy After a tough season in 2020, 2021 saw a significant increase in visitorship. The Liberty Ride Trolley tour resumed in July of 2021 after a one-year hiatus. Battle Green Tours continued to be a popular option for tourists. Other highlights of the year include a rebranding intiative, expanded marketing campaigns including TV and Radio, and preparations for a new website.
112,352
Tourists in the new Visitors Center since opening in July 2020
4,000
Liberty Ride tickets sold in the new Visitors Center
2,304
Battle Green Tour Tickets sold since July 2020
$$$$
In revenue made on sales from the gift shop since opening
Rebranding Initiative After a thoughtful and comprehensive re-branding effort, we introduced our new “Make History in Lexington” logo. This logo embodies our history, past, and present, and invites visitors to make their history in our town, whether it be through history, the arts, or outdoor activities.
MARKETING
ANALYTICS Platform
Source
ROI/Reach
Radio and Digital
GBH
43 Radio Slots over two weeks, 372,992 impressions
Group Tour Magazine
18,750 Readers
Youth Travel Planner
31,200 issues distributed
Bus Tour Magazine
23,000 readers
Boston Globe Sunday
769,065 Readers
Boston Globe MagazineTravel
769,065 Readers
E-Blast
Boston.Com
42,980 subscribers
USA Today
100,000 copies printed,
Greater Merrimack CVB
50,000 distributed
Digital
74,425 impressions
Greater Boston CVB
80,000 copies distributed
Digital
Greater Boston CVB
55,000 page views
VC Screens
Greater Boston CVB
12,000 people per week
Digital
WCVB4 Page
409,227 impressions (to date)
Advertising Print
PORTFOLIO Digital
Social 7 Web/Digital
TV
Visitors Center Grand Opening: The Lexington Visitors Center’s Official Grand Opening and Ribbon-Cutting Ceremony took place on October 7, 2021. The Visitors Center Grand Opening presented us with a wonderful opportunity to say “thank you” to everyone who helped make this building possible and to introduce LVC 2.0 to Lexingtonians and the Massachusetts tourism community alike. We had an impressive turnout and a fantastic list of speakers including Michelle Ciccolo, our Massachusetts State Representative from the 15 th Middlesex District, State Senator Michael Barrett from the 3 rd Middlesex District, Keiko Matsudo Orrall, Executive Director of the Massachusetts Office of Travel and Tourism, and Massachusetts Housing and Economic Development Secretary and Lexington Resident Michael Kennealy.
Page 8
Patriots Day Weekend: To the delight of Lexingtonians and visitors from near and far, Lexington’s signature Patriots Day festivities returned in 2022. The Lexington Visitors Center welcomed more than 5,000 visitors during the Patriots’ Day weekend alone! 180 guests enjoyed our Award-Winning Liberty Ride Trolley Tour of Lexington and Concord (a three-day sellout) and our team of Professional Revolutionary Guides led more than 100 guests on a one-hour guided Battle Green Tours. In addition, our gift shop had the most profitable day in its nearly 60year history on Patriots Day. Page 8
Tourism Highlights: the Return of Charter Tours: After taking a long pause during the pandemic, we are pleased to report that our Charter Tour groups have started returning to Lexington this fiscal year, with 75 charter tours to date (as of May 31, 2022) either booked or completed. Our team of professionally-trained and hospitality-focused stepon guides transports our charter guests back to April 19, 1775, on our two-hour tours of Lexington and Concord. As well, our one-hour guided Battle Green Tours continue to build momentum with – tours given this year, and our Liberty Ride, with – tours, continues to be a sought-after option for visitors Page 8 from across the U.S.
The Business Toolkit was released in Spring 2022.
Jim Cadenhead of Battle Road Bikes shows off the business's new mural in East Lexington.
GRANTS Grant and Programs Along with the Lexington Historical Society, the Economic Development Office was awarded a $30,000 grant from the Massachusetts Office
o f T r a v e l a n d To u r i s m T r a v e l a n d To u r i s m Recovery Program to implement a regional marketing campaign including print, digital, and TV advertisments.
Lexington, Arlington, and Bedford were awared a $150,000 Regional Economic Development Organization Grant from the Middlesex 3 Coalition to implement wayfinding recommenations made in the Local Rapid Recovery Program Report completed in 2021.
The Towns of Lexington, Arlington, and Concorded were awarded a $70,000
Massachusetts Area Planning Council Technical Assistance Program Grant to study the impact of tourim on the local economies.
(L-R) Lexington Town Staff Casey Hagerty, Sandhya Iyer, Kiruthika Ramakrishnan, and Jim Malloy, join Tim Caldwell, and Jessica Crawford on a tour of Takeda's new Cell Therapy Manufacturing Facility.
Town Staff joins the project team for a tour of 4 Maguire Road which is under construction in preparation for KSQ Therapeutics to occupy in Fall 2022.
Casey Hagerty, Sheila Page, and Sandhya Iyer attend a site visit in East Lexington as part of the Local Rapid Recovery Program Grant.
American Rescue Plan Act Through the American Rescue Plan Act, the Town of Lexington received $9 million from the Federal Government to help the community recover from the COVID -19 Pandemic. The Economic Development Office worked closely with the Town Manager's Office and the Select Board to implement a series of programs to aid in business recovery. Programs included $600,000 to implement a small grant program to assist local businesses and non-profits, $100,000 for Store Façade Improvements in East Lexington, $50,000 to support community events, $100,000 to start a pop-up incubator, and 50,000 to create a new tourism website.
SMALL BUSINESS GRANT PROGRAM
NON-PROFIT GRANT PROGRAM
Budget: $600,000
Budget: $100,000
Business Awarded: 28
Organizations Awarded: 11
Rounds: 3
Rounds: 4
70%
of Grants awarded to Women and Minority Owned Businesses
Round One Abbott's Frozen Custard: $15,000 Accupuncture Partners: $6,000 Lexington Graphics: $25,000 Wales Copy: $25,000 Help Around Town: $10,000 Dabin: $25,000 We Are Talking: $20.000
Round Two body of text Fitter Female: $25,000 Lexington Power Yoga: $25,000 Nick's Restarant: $25,000 Pinot's Palette: $24,000 DC Samuel Salon: $25,000
Round Three Clay Oven: $20,000 Crafty Yankee: $25,000 Great Harvest Bakery: $20,000 Mammola Salon: $25,000 Stephanie Louis Salon: $25,000 Eagle Endodontics: $25,000 Cake. : $25,000 Artinian Jewelry: $25,000 Elite Freestyle Karae: $25,000 First Lash LLC: $15,000 Alexander's Famous Pizza: $20,000 Paul Donanvan, Inc: $15,000 Nature's Way Cleaners: $25,000 Upper Crust Pizzeria: $10,000 Il Casale: $25,000 Creative Expression Salon: $25,000
Round One Special Needs Art Program: $5,000
Round Two Lex Art: $10,000 Munroe Center for the Arts: $10,000
Round Three Lexington Farmer's Market: $10,000 Lexington Historical Society: $5,000 New Legacy Cultural Center: $10,000
Round Four FUSE Preschool Inc: $10,000 My Weekday School: $10,000 Community Nursery School: $10,000 Lexington Chamber of Commerce: $10,000 Drug Research Group: $10,000
Sandhya Iyer and Casey Hagerty from the Economic Development Office present a check to the Manager of the Lexington Farmer's Market, Alex Flack.
Visitors Center Manager Katie Johnson oversees the Ribbon Cutting Ceremony for the Visitors Center on October 7, 2021
Economic Development Coordinator Casey Hagerty met with US Senator Elizabeth Warren during her trip to the Visitors Center on July 7, 2021.
Land Use, Health, and Development Department
ECONOMIC DEVELOPMENT OFFICE ANNUAL REPORT FY 22
1875 Massachusetts Ave, Lexington MA 781-698-4568 www. lexingtonma.gov/economicdevelopment economicdevelopment@lexingtonma.gov