BUSINESS BUZZ
Transformit
AVE
by Steven Froias
This past February, New Bedford acquired another powerful tool to add to its economic development arsenal.
A
t Hatch Street Studios in the city’s North End, local and state officials met for a special announcement. The area of New Bedford that is home to the commercial corridor Acushnet Avenue officially became a MassDevelopment Transformative Development Initiative (TDI) district. At the event, a total of 12 new districts in the Commonwealth were announced, and the North End Acushnet Avenue district was New Bedford’s second, following in the footsteps of the downtown Purchase and Union Street TDI district. TDI districts are the centerpiece of a MassDevelopment program for Gateway Cities designed to accelerate economic growth within a focused geographic location. The Transformative Development
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TDI districts are the centerpiece of a MassDevelopment program for Gateway Cities designed to accelerate economic growth within a focused geographic location Initiative works with cross-sector partnerships in targeted commercial districts in order to engage community members, implement local economic development initiatives, and spur further public and private investment. All districts designated that day
July 2022 | The South Coast Insider
in February are to 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. In New Bedford, Mayor Jon Mitchell remarked at the Hatch Street Studios event, “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. The designation will help energize existing small businesses,
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