Has the time come to reconstitute the Economic Development Committee with the charge of looking at ways to increase the town's commercial tax base with the goal of lessening the tax burden on residential property owners?
Cohasset should regularly seek alternative sources of revenue to lessen the tax burden on residential property owners. The Economic Development Committee should be reconstituted to help meet this goal, but with specific objectives to drive its charge. Any development plan to increase the commercial tax base needs to respect the qualities that make Cohasset a desirable place to live. These qualities cannot be compromised.
A reconstituted Economic Development Committee should think about innovative ways to attract and expand upon our commercial base beyond brick-and-mortar construction. Businesses want to go where the talent is; Cohasset has that talent and the success of businesses such as Work Station make clear that our residents want to work locally. Thoughtful economic development should consider:
- Delivering access to secure, reliable, high-speed broadband services, which are currently limited and costly on the South Shore. At Town Meeting, we will vote to make a significant investment in information technology for Cohasset. Can we leverage these investments to provide broadband services to our local businesses? Or, can we partner with OpenCape and our surrounding communities to deliver these services and position Cohasset as a technology hub for new businesses?
- Developing a business incubator to invest in local entrepreneurs by providing them with shared resources, mentorship, and access to capital that are central to success for new businesses. Targeted investments can encourage business development, nurture growth, and provide employment opportunities and valued goods and services locally.
- Addressing the needs of our existing business community. Investments in sidewalks, parking, bike lanes, etc. will not only improve the economic outcomes of our businesses by attracting consumers, but will improve the lives of our citizens.