Summary
In this episode of the Develop This Podcast, host Sean Maguire welcomes Allison Carter, the Director of Economic Development for Lowell, Massachusetts. They discuss the city's unique economic landscape, including its history, the Downtown Lowell Vacant Storefront Program, and the innovative Project Pop-Up retail incubator. Allison shares success stories from these initiatives, highlighting the community's vibrant culture, driven by a diverse population and a commitment to fostering entrepreneurship. The conversation concludes with a look at future aspirations for Lowell's economic development and the importance of maintaining a dynamic downtown environment.
Takeaways
- Lowell has a rich history that influences its current economic landscape.
- Manufacturing is allowed by right in downtown Lowell, fostering creativity.
- The city is relatively affordable compared to nearby areas such as Cambridge.
- Lowell has a significant Cambodian community that enriches its culture.
- The Downtown Lowell Vacant Storefront Program combines tax credits and forgivable loans.
- The program has successfully revitalized the downtown area post-COVID.
- Project Pop-Up allows entrepreneurs to test their business ideas with low risk.
- The incubator program has led to the opening of new businesses in Lowell.
- Community engagement is crucial for economic development success.
- Allison emphasizes the importance of turning challenges into opportunities.
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