2013 Recap: Business Development Division
Jan 09, 2014
In February 2013 the BRA Business Development Division was launched, bringing the Back Streets Boston, LifeTech Boston, CreateBoston, RetailBoston, Innovation Boston, CleanTech Boston, and Onein3 initiative under one department. The Business Development Division's mission is to attract, retain, and grow world class companies and strengthen the city's professional workforce.
ACCESS TO CAPITAL: CONNECTING BUSINESS OWNERS WITH CAPITAL
In the Fall of 2013, the BRA Business Development division organized the first of a series of events designed to educate prospective and existing business owners on navigating the sometimes complex world of capital access, as part of its efforts to encourage the formation and growth of new businesses in the city. This campaign arose in response to some small business owners not knowing where to go to look for money to start and grow their businesses, what kind of financing to pursue, and what organizations are out there to assist them.
In November 40 entrepreneurs and business owners gathered to hear presentations by four respected leaders in venture capital and angel investing, business coaching, crowd funding and business formation. Each speaker provided unique insight to the approach a business owner would take when applying for and obtaining small business funding.
The workshops will continue throughout 2014 in various locations around the city and are a major part of the commitment made by the BRA to become a resource for not only financing in the form of small business loans to growing businesses, but also for the education necessary to succeed. Other workshops last year included presentations on permitting and steps necessary to open a retail establishment in Boston.
BACK STREETS BOSTON: STRENGHTENING INDUSTRIAL BOSTON
In 2013 Back Streets continued to attract, retain, and grow Boston’s viable industrial and wholesale businesses through the strategic use of land, workforce and financial resources. Among its varied work this year Back Streets successfully:
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Assisted over 90 companies in Newmarket Square, one of Boston's industrial centers, resulting in the creation and or retention of approx. 710 jobs
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Advocated for new zoning to protect Newmarket as an industrial center in Boston
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Supported the expansion of Boston's burgeoning micro-brewery/distillery sector
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Strengthened the connection between food industry companies and Boston's restaurants, hotels, hospitals and universities
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Launched office hours in the industrial areas of the city, including Newmarket, East Boston, and Hyde Park
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Featured as a national model by the Urban Manufacturing Alliance at their annual conferences in New York City and Oakland California.
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Launched Twitter (@BackStreetsBos) and LinkedIN sites
(MORE on Back Streets in 2013)
LIFETECH BOSTON: GROWING THE LIFE SCIENCES
LifeTech Boston is an initiative dedicated to fostering the growth of Boston's life sciences and high technology sectors. Among its varied work in 2013 year LifeTech successfully:
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Assisted more than 20 companies looking for a new home, with navigating city services, and identifying financial resources.
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Worked with over 15 consulates and trade & investment organizations on attracting international business to Boston.
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Worked with State partners on attracting out-of-state companies
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Promoted Boston at national conferences and events
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Forged partnerships with the healthcare community, local networking groups, and the life sciences real estate community
(MORE on LifeTech in 2013)
CLEANTECH BOSTON: ACCELERATING THE INDUSTRY'S SUCCESS
In 2013 Cleantech worked on creating an environment for the CleanTech sector to grow, building upon a strategy that combines policy and development, and promotes Boston on the national stage as one of the most forward thinking and innovative CleanTech cities in the country. Staff participated in several events within the local community and helped nurture to network and build the CleanTech ecosystem:
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CleanTech Open Northeast, where CleanTech startups competed for grant awards, drawing the best and brightest CleanTech entrepreneurs from all over the Northeast.
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EcoDistrict Summit, sponsored by the BRA, which was held at the Boston Convention and Exhibition Center and featured two days of discussions and presentations on the latest trends in smart growth, energy efficient ecosystems and neighborhood planning.
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Global CleanTech MeetUp, an event run by the Massachusetts Clean Energy Center that convened companies from around the world interested in updating their existing energy strategies with companies that provided the latest energy improving products and services.
RETAILBOSTON: DOING BUSINESS IN BOSTON
RetailBoston works to attract and retain retail and restaurants by assisting businesses with site selection, outreach to the commercial broker community, access to capital for businesses, and navigation through the City's zoning, permitting, and licensing process. Among its varied work this year, RetailBoston successfully:
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Attended key networking conferences and hosted conference events for potential Boston market investors
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Research, drafted, and released a Request For Proposal (RFP) for the individual lease of six separate retail spaces at the Dudley Square Municipal Center located in Roxbury
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Continued close collaboration with the Downtown Boston Business Improvement District . More than 500 businesses are located in the district, including 103 NEW retailers and restaurants that have opened since 2008, representing $68 million in investment and 1,900+ new jobs
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Hosted over one dozen walking tours of Downtown for residential & commercial brokers to educate the broker community about the new development, retail , and associated opportunities
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Announced new supermarkets:
Roche Brothers, Millennium Tower, Downtown Crossing
Star Market, Boston Garden Redevelopment, West End/North End
Whole Foods, Ink Block, South End
Tropical Foods Expansion, Parcel 10, Dudley Square
Wegmans, Landmark Center, Fenway
(MORE on RetailBoston in 2013)
ONEIN3: ENGAGING BOSTON'S YOUNG PROFESSIONALS
Young adults between the ages of 20-34 represent more than one-third of city's population, making Boston home to the highest proportion of young adults out of all major American cities. ONEin3 connects this important segment of the city's population with resources related to civic engagement, entrepreneurship, housing and professional development, contributing to the City of Boston's goal of attracting and retaining our young adults. 2013 ONEin3 Highlights:
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Partnered with InnovationBoston and the Rappaport Institute to host Start Up City: Building Boston's Entrepreneurial Eco-System
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ONEin3 Council Members arranged a #BacktoBack Bay evening to support the restaurants and businesses most affected by the Boston Marathon bombings, pumping much needed dollars into the establishments.
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Invited ONEin3ers to be a part of visioning Boston's waterfront at the Downtown Boston Waterfront Design Workshop
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Boston Shines: More than 100 ONEin3ers from across Boston got together to participate in the Annual ONEin3 Boston Shines Serve & Sip. The group cleaned and mulched more than 70 trees in Audubon Circle, removed trash and debris, and refueled at a local restaurant in the neighborhood
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Organized The Red Line Ride in partnership with the City of Somerville, the City of Cambridge and small businesses to host a day-long event that featured activities spanning the three cities.
(MORE on Onein3 in 2013)
CREATEBOSTON: GROWING BOSTON'S CREATIVE ECONOMY
The creative economy in Boston contributes an estimated $9.1 billion in economic output and roughly 46,639 jobs. CreateBoston works to grow the sector through business attraction, retention and expansion. Over the past year, the program assisted approximately 25 companies with a range of services, added 52 jobs and responded to over 100+ inquires on how to start a business in Boston, navigate the permitting process, and locate affordable space. In addition staff coordinated 'A City Evolves: Maps and Visions of Boston from 1775 – Present,' a map exhibit at City Hall.
INNOVATIONBOSTON: SUPPORTING BOSTON'S NEW ECONOMY
InnovationBoston aims to take advantage of the City's existing knowledge base, the area's opportunity for growth, and world-class infrastructure to produce best-in-class products and services while supporting entrepreneurship. In 2013 InnovationBoston assisted with the following:
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Worked with businesses looking for space and permitting assistance in the Innovation District. The district attracted 50+ new companies and over 1,000 new jobs in 2013.
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Celebrated the opening of District Hall the world's first free-standing public innovation center.
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Launched Boston Idea Week to bring together over 8,000 of Boston’s change-makers, leaders, creative thinkers, entrepreneurs and world-class college students to share and celebrate innovative ideas, products, networks and businesses that are being tested and formed in Boston.