Smart- A Great Place to Do Business
“Businesses are attracted to Newton’s village centers and commercial corridors for access to a desirable customer base, an educated and able workforce, good transportation linkages, and proximity to other major commercial centers.” (Comprehensive Plan, 6-1)
According to the 2010 Census, Newton has a population of 85,146 residents (an increase of 1.6% since 2000) and is the 11th most populous city in the Commonwealth of Massachusetts. Residents of the “Garden City” place a high value on residential quality of life and take pride in our school system. Newton has a highly educated and professional resident workforce of approximately 40,000 people. In August 2012, CNN Money ranked Newton #4 on its list of “Best Places to Live in 2012.”
Newton’s land area of 17.9 square miles is all but fully built-out. Commercial property accounted for approximately 10% of the taxable value of the City in FY2010. Like many of our neighbors, Newton has a split tax rate, though our commercial tax rate is lower than many nearby cities and towns. In FY13 the commercial tax rate is $21.93 per thousand of assessed value while the residential tax rate is $11.49. In 2009, Newton passed the Local Option Sales Tax on Meals Tax of 0.75%, and the City uses this income source to fund economic development programs aimed to assist our business community and continue to enhance the commercial tax base.
- The Newton Comprehensive Plan (2007) serves as a guide outlining the policies and vision that guide the type of growth and development that we want in our City.
Locational Advantage Connected to the City and the Suburbs
“In addition to the high quality of the living environment and excellent public services, a community’s livability is enhanced by convenient access to shopping, restaurants, work places, entertainment, and cultural activities. Successful businesses serving the local community in the village centers and the growth of more broadly based organizations contributing tax revenues and jobs in commercial corridors and transportation hubs are equally important targets for assuring Newton’s future prosperity.” (Comprehensive Plan, 6-1)
We understand that an important part of doing business in Newton is ensuring that your customers and employees can easily and safely travel to your shop or office. One of Newton’s great advantages is its proximity to many forms of transportation, from direct transit access from downtown Boston, Cambridge, and Brookline to convenient automobile access from nearby towns:
- Three MBTA Commuter Rail stations at the villages of Newtonville, West Newton, and Auburndale
- Eight MBTA Green Line T stations at Boston College on the “B line” and Chestnut Hill, Newton Centre, Newton Highlands, Eliot, Waban, Woodland, and Riverside on the “D line”
- MBTA Express Bus and Bus service
- Convenient access to the Massachusetts Turnpike/I-90, Route 128/I-95, and Route 9
- Streets that encourage walking and bicycling
To see maps of The City of Newton click here.
Sense of Place Villages and Commercial Corridors
“Economic prosperity and an attractive living environment are the objectives of Newtons economic development. For our economic development strategy to succeed, it must capitalize on Newtons strength as a desirable residential community and as a top-notch business location. Newton thrives when it optimizes the interaction between its residential and commercial constituents.” – Newton Comprehensive Plan, 2007
Newton is renowned as a City of Thirteen Villages and much of our commercial activity occurs in these vibrant mixed-use centers. The villages are home to distinctive shops, independent restaurants, neighborhood services, and professional offices, as well as civic buildings, places of worship, cultural organizations, and, in many cases, transit stations with direct service from downtown Boston. Newton also has two significant commercial corridors: Route 9/Boylston Street (home to Chestnut Hill Shopping Center, Chestnut Hill Mall, the Atrium Mall, and the recently-approved Chestnut Hill Square) and Needham Street (a commercial corridor with great opportunity for new development that is currently in a master planning process and provides an important connection between Route 128/I-95 and Route 9). The Wells Avenue Office Park includes a large amount of office in close proximity to Route 128/I-95.
- Learn more about Newtons Village Centers and Commercial Corridors
- Find available commercial vacancies through the Commercial Real Estate Connection
Innovation – Attracting Green Energy and Biotechnology
Governor Deval Patrick has pledged to grow the already strong clean energy and life science sectors in Massachusetts, recognizing the tremendous potential for job-creation and contribution to sustainable development.
In 2010, the City of Newton was one of the inaugural group of 35 cities and towns to receive the “Green Community” designation from the Massachusetts Department of Energy Resources. Newton was the first municipality to pass the Massachusetts Stretch Energy Code in November 2009 and is home to several LEED-certified buildings, including the new Newton North High School which is achieved LEED-Silver status. The City of Newton is currently rated Bio-Ready Bronze by the Massachusetts Biotechnology Council, and the citys Economic Development Commission is actively and thoughtfully working to bring innovative new businesses to the City.