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Merrimack Valley Regional
Facts & Figures - Economic Climate
The Greater Concord area
has so much to offer, whether you seek a great place to raise
a family, a new home for your business, or a unique place to
explore a community rich in New England history and culture.
Concord offers the best
of city and country living with a quality of life that is hard
to match. Recently ranked ninth-best smaller city (out of 150
cities) according to The Rating Guide to America's Smaller
Cities, Concord boasts schools that produce an above-average
number of college-bound graduates, warm communities,
grassroots government, diverse cultural and recreational
activities and one of the nation's lowest crime rates.
Greater Concord is also
a great place to do business. Vital economic growth over the
past seven years has been credited to the city government's
commitment to work closely with businesses considering opening
or expanding their facilities here.
Concord was also
recently ranked fourth in terms of per capita income according
to The New Rating Guide to Life in America's Small Cities. On
top of numerous state jobs and the large retail employment
base, there are more than 150 manufacturing companies within a
25-mile radius of Concord.
Numerous economic
development initiatives are under way or in the planning
stages. These include developing a four-mile stretch of vacant
land near Interstate 93, building a major convention center
complex, expanding and developing industrial park space and
enlarging the municipal airport.
As the state capital and
county seat for Merrimack County, Concord is not only
headquarters to numerous state, county, local and federal
agencies but also home to a number of major law firms and
professional organizations that work with government.
Every four years the
city springs to national attention during the presidential
primary and is already cranking into high gear in anticipation
of the 2000 primary. Presidential hopefuls have begun
descending upon Concord and surrounding areas to court
residents in the hopes of garnering a victory in the
prestigious First in the Nation New Hampshire Primary. With
the exception of 1992, no presidential candidate has gone on
to win the presidency without first winning our state primary.
Most New Hampshire towns
still adhere to the traditional selectmen form of government,
and each spring residents gather at annual Town Meetings to
discuss and vote on the town budget and other municipal
issues.
Concord and the
surrounding communities boast some of the lowest crime rates
in the country. Thanks to the recent initiation of a statewide
911 system, when emergencies do arise, centralized emergency
response is more efficient than ever.
To keep children safe,
the Concord Police Department Community Resources Unit
conducts the DARE (drug and alcohol resistance education) and
GREAT (gang resistance education and training) programs and a
ride along program. Concord has four fire stations and more
than 90 full-time firefighters. Most surrounding towns rely on
many dedicated volunteer firefighters. Neighboring communities
routinely help each other through the Mutual Aid police and
fire emergency network.
The Merrimack River made
Concord a transportation and trade hub and led the city to
prosperity. In 1815 the Middlesex Canal was opened, connecting
Concord to Boston. Though the Merrimack's days as a premier
trade route have long since faded, the city's geographic
location has kept it in the fore of commerce. While each town
surrounding Concord is distinctly different from its
neighbors, all share a rural Yankee flavor. There is much for
residents, employers and tourists to treasure and enjoy about
the community spirit, low crime rate, quiet lifestyle,
picturesque countryside, and grassroots government
characteristic of the area.
With the instrumental
efforts of development-oriented Downtown Concord
Revitalization Corporation and Downtown Concord, Inc., which
organizes theme shopping events and other promotions, the city
created attractive public spaces and provided more parking,
while private businesses and property owners redeveloped and
restored their buildings to resemble the upscale, nostalgic
feeling of downtown's heyday.
Concord offers the
warmth, friendliness and local color of a small New England
town, while still offering all the services, entertainment,
dining, shopping, cultural and business opportunities of a
modern city. Downtown also serves as the backdrop for special
shopping events, theater and entertainment.
Today, Concord is
building upon its reputation as a crossroads with plans for an
expanded municipal airport and a newly built multi-modal
transportation center, easily visible from I-93. The center
provides Trailways bus service and a park-and-ride commuter
lot. City planners are mulling reopening rail service through
Concord. The city lies conveniently at the intersection of
I-89 and I-93 and Routes 4 and 202/9 to move motorists to all
points across the Granite State and to points in Vermont,
Maine and even Canada.
Speaking of travel,
Boston is just a one-hour drive to the south. In under an
hour, residents can visit Atlantic Ocean beaches in New
Hampshire's Seacoast Region, participate in recreational
activities on Lake Winnipesaukee in the Lakes Region, or hit
the slopes and peaks of the scenic White Mountains Region.
Vermont, Maine and Canada are also short day or weekend trips
away. Concord was recently ranked the ninth best smaller city
(out of 150 cities analyzed) according to The Rating Guide to
America's Smaller Cities in terms of climate, activities,
economy, education, sophistication, health care, housing,
public safety, transportation and proximity to major suburban
areas.
Poised for the Future...
Concord offers the best of both worlds. It is a modern city
with a small-town flavor. The region carefully balances the
needs of industry in promoting economic growth with the
necessity of preserving the rustic charm, which has made New
England a favorite tourist getaway.
Opportunities Abound
A four-mile stretch of property along Interstate 93, nicknamed
The Opportunity Corridor, is being restored by the city
through a major federal grant as well as projects initiated by
private investors. Aggressive plans are under way to redevelop
the highly visible area from under-used properties into a
thriving corridor of commerce.
A key project was the
development of a hotel-conference center, the Courtyard by
Marriott, at the north end of Opportunity Corridor, which
features easy access to Interstates 93 and 393. Toward that
end, the Capital Regional Development Council and the Greater
Concord Chamber of Commerce joined forces to raise money,
design and ultimately own and run the long-anticipated Visitor
Center, which opened in the fall of 2000.
Other projects in the
Corridor are in varying stages from study to completion, and
the city's belief in the Corridor's promise has already
stimulated several economic initiatives in that area. An
example is the new Northeast Delta Dental building. Northeast
Delta Dental, a fast-growing insurance company, opened its new
$3 million, two-story office building, which houses its 110
employees, in the summer of 2000. The building is located on
Fan Road near the new Courtyard by Marriott Hotel and
Conference Center.
In another example, the
Steenbeke family acquired a former steel manufacturing
facility in the South Concord Industrial Park and redeveloped
it for their retail and wholesales home supply and lumber
facility. The project involved renovating two historic
buildings and a substantial amount of landscaping. Another
parcel in the area was also restored by the Steenbekes and
redeveloped into office space.
Building on Success
Building permits issued in Concord have continued the upward
rise begun in late 1994. In recent years, a number of very
high profile landmark developments have been completed. The
most significant major construction project recently completed
was the $35 million Warren Rudman Federal Courthouse addition
to the James Cleveland Federal Building, adding hundreds of
jobs to the economy.
Concord Hospital
completed a $14 million project adding two new medical office
buildings to its campus. Concord Orthopedics completed a $3.5
million medical office building.
And there are numerous
other major construction projects recently completed or
currently underway throughout Concord. In addition to several
new state buildings, including the $1.25 million Supreme Court
building and a $1.4 million building for the Department of
Revenue, home building supply giant Home Depot completed
construction on a $3.25 million, 114,400-square-foot building
on Loudon Road near the Steeplegate Mall. The store has
brought 150 to 200 new jobs to Concord. Also, a three-story,
$3.4 million, 105-room Fairfield Inn put out the welcome mat
for visitors and tourists alike. Minneapolis-based discount
retailer Target opened a 122,800 square foot store next to
Home Depot. Wal-Mart has also unveiled an 82,000 square foot
addition. The Capitol Shopping Center on Storrs Street is
getting a major facelift with a new facade and the addition of
a Marshall's discount store. The new facade will be
reminiscent of the 19th-century train station that once graced
the site.
Homes on the Rise
Area housing starts continue on an upswing after several soft
years in this sector. A sign of growth is also evident in the
recent completion of a $30 million addition to Concord High
School, which includes a public day care facility and
expansion of the regional vocational education program.
Transportation Crossroads
Potential for redeveloping and reactivating rail service,
proximity to four interstate highway interchanges (I-93,
I-393, I-89 and I- 293), expansion plans for the municipal
airport and completion of a new multi-modal transportation
center has placed Concord squarely at a desirable crossroad. A
public/private partnership between Trailways and the New
Hampshire Department of Transportation, the new transportation
center is home to Concord Trailways and a 350-vehicle
park-and-ride commuter lot.
Growth and Nature
The City actively works with industry representatives and area
environmental groups to strike a balance between economic
growth and ecological conservation. The Audubon Society of New
Hampshire and the Society for the Protection of New Hampshire
Forests both make their homes in Concord.
The Fast Track
Approximately $50 million was spent in Concord and the region
in 1998 as a result of race fans visiting the New Hampshire
International Speedway in neighboring Loudon. The 91,000-seat
Speedway, the largest of its kind in New England, attracts
400,000-plus spectators during the racing season. Racing
Capital, Inc., a part of The Greater Concord Chamber of
Commerce, brings Speedway fans to Concord for shopping and
entertainment. It also hosts Race Fever, which brings 25,000
people downtown to celebrate the Winston Cup in July. |