Economic Development Committee

COVID-19 Updates for our Business Community: 

The Town will do our best to provide you with any updates on resources that become available to help North Reading's businesses through this crisis. 

Attention small business owners: Please respond TODAY to indicate your interest in a potential funding opportunity. The Town of North Reading is working with surrounding towns and our regional planning agency to apply for financial relief for small businesses, through HUD. This program would provide up to $10,000 in financial assistance to microenterprises, or businesses with five or fewer employees, one of whom owns the business. If your business falls into this category, AND your own household is low or moderate income, please contact Danielle McKnight, Town Planner, indicating your interest in the program. If we are successful, funds could be used for cover business costs, such as rent, staffing, and utilities. (It won’t cover major equipment purchases, real estate purchase or construction).

You do NOT need to share your financial information at this time – simply identify whether you meet the criteria to the best of your knowledge. We must gather the information today, May 26, and submit it tomorrow – please contact us by noon tomorrow, May 27. We will be in touch as soon as we hear about the status of the funding. If we are successful, a more detailed application will be made by each business applying.

How to determine if your household is low or moderate income. Your household earns the following amount, or less, based on your tax returns:

Family of 8$127,050
Family of 7$119,350
Family of 6$111,650

Family of 5

$103,950
Family of 4$96,250
Family of 3$86,650
Family of 2$77,000
Family of 1$67,400

 

Please fill out this survey from the Reading-North Reading Chamber of Commerce so that the Chamber and both Town governments can better understand the needs of our businesses. (Please note that you do not need to be a Chamber member to participate.) 

Resources from the Commonwealth:

Resources and Guidance for Businesses - this link provides an easy access point to several resources for businesses, including administrative tax relief measures, MEMA's private sector hotline and information about assistance offered by the Small Business Administration

Press release - Baker-Polito Administration - new health care resources and other assistance (3/20)

Small Business Administration Economic Injury Disaster Loan Program (EIDL) 

Press release on support offered by the Small Business Administration

Fact sheet - Resources provided by the Small Business Administration

 

 

Attend the North Reading Economic Development Committee's Business Community Workshop!

30 PM Kitty's

The event is free, but kindly RSVP for planning purposes.


The North Reading Economic Development Committee (EDC), created in early 2015, acts as an advisory board to the Board of Selectmen and Community Planning Commission. The EDC focuses on developing the town's economy and strengthening the local businesses. For a complete description of the EDC's responsibilities, please see their approved charge:

North Reading Economic Development Committee Charge

Meetings are generally held the third Tuesday of the month at 6:00 p.m. in Town Hall. The EDC is supported administratively by the Community Planning Department

For more information, please contact Danielle McKnight, AICP, Town Planner, at 978.357.5206.

 

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