MVPC is excited to announce the kickoff of a new planning initiative lead by the Community and Economic Development department. Last year the department applied for and received a federal grant from the Economic Development Administration to conduct a study of industrial sites across the Merrimack Valley. This Industrial Zone Profile will be completed over a two-year period, culminating in a planning document that will help inform the future of industrial development in the region.
Using zoning, infrastructure, and environmental data, this project will analyze the existing capacity of industrial zones and examine opportunities for expansion. An initial analysis of industrial sites and zones in the region will provide a baseline of current site conditions, which will inform a build out analysis to test recommended changes that could increase capacity. Recommended changes could include adjustments to zoning restrictions, infrastructure enhancements, and more. Along with examining existing sites, the study will review potential new sites that may be well suited for industrial uses. By identifying areas for future potential industrial growth, MVPC aims to provide insights that can guide municipalities toward making informed decisions that will contribute to the sustainable development of the Merrimack Valley.
Along with the Industrial Zone Profile, MVPC will release quarterly updates of the region’s available commercial and industrial properties. These updates are a valuable resource for businesses and municipal leaders seeking commercial or industrial space in the region. Although business park vacancy rates sit at or near all time lows, there are still great opportunities to be found in the region. With over 200 properties listed for sale or lease, the update showcases the diverse real estate options available across the Merrimack Valley. From vacant lots to existing structures, these properties offer a variety of possibilities for developers and businesses looking to establish or expand their presence in the region. Check out MVPC’s Data Portal to search the database for properties by size, type, location and other factors.
The Industrial Zone Profile, along with the quarterly Available Property Update, align with MVPC’s broader mission of driving economic development in the Merrimack Valley. Recently, MVPC completed the Comprehensive Economic Development Strategy (CEDS) for the region, which outlines several objectives and strategies to help grow the Merrimack Valley economy—including a goal to expand overall industrial space in the region. The Industrial Zone Profile is an important step towards achieving this goal, and will provide a roadmap for future industrial growth in the Merrimack Valley.