Canton, Massachusetts · Saved source text

Article 3 - EDC Report - Economic Development Committee for ATM 2025 pdf file

Town Meeting · Record year 2025 · Record 247f1e470fe0761d33

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CANTON
Economic Development
Committee Report

May 12th, 2025

Economic development in Canton is a top priority
for the Select Board with the following initiatives.

   Maintain and grow a strong
    and vibrant business
    community
   Ensure stable commercial
    tax revenue cash flow for
    town services
   Increase property values of
    residences and businesses
    in our community by
    ensuring a growth-orientated
    economic development plan
   Maintain Canton’s
    outstanding reputation as a
    proactive business-friendly
    community in MA
                                     Confidential and Proprietary

Canton Business Development
Headlines – 2024

   Remtek opens new 55,000 sq ft
    facility at 5 Campanelli Circle,
    relocating from Norwood.
   New 43D Expeditated
    Permitting article for 30 Dan
    Road, a 140,000 sq ft site.
   Demolition of former 99
    Restaurant at 362 Turnpike
    Street, to begin construction of
    new self storage facility.
   Major expansion and addition at
    Trillium, 100 Royall Street, with
    new brewery and distillery

                                        Confidential and Proprietary

Canton Business Updates




                     Confidential and Proprietary

Impact of Economic Development
on Canton

   The Canton business community paid over $39 million in
    commercial and industrial taxes in 2024, which is 39.5% of
    the tax levy.
   The commercial and industrial valuation of businesses in
    Canton is over $1.6 billion.
   Canton is one of the top Norfolk County communities in
    commercial taxes generated.
   2025 residential tax rate (per thousand dollars of assessed
    value) dropped to $9.89, the lowest in 16 years. The
    commercial rate dropped to $20.45.
   A strong commercial tax base helps keep residential taxes
    low!

                                            Confidential and Proprietary

Comparison of Commercial/Industrial Tax as a
Percent of Total Levy in Norfolk County
Municipalities for FY 2024

 CANTON: 39.53%
 Braintree: 33.38%
 Dedham: 30.29%
 Stoughton: 29.01%
 Foxborough: 25.32%
 Westwood: 21.79%
 Randolph: 19.58%
 Sharon: 7.15%
 Milton: 6.52%
                                                  Confidential and
Source: MA DOR, Div. of Local Services, 3/11/25     Proprietary

Canton Businesses Practice Community
Responsibility and Engagement

   Over 25 Canton businesses offer
    annual scholarships to CHS and
    BHRTS students.
   In 2024, over $45,000 was donated
    to Canton municipal departments,
    CPS, the Canton Senior Center,
    and the Canton Food Pantry by the
    Canton business community.
   Since its inception over 50 years
    ago, the Canton Association of
    Business and Industry (CABI) has
    donated over $2 million to Canton
    charities.
   CABI hosts the annual Canton
    Road Race, which is held each
    September at Trillium Brewing with
    over 600 runners.                    Confidential and Proprietary

Canton EDC greatly appreciates the support of the
SB and other Town Boards and Committees.


 Gene Manning – Chair
 Emilio Mauro – Vice Chair
 Tera Kull – Clerk
 Tyrishma Allen
 Mindy Milman
 Gregory Murphy
 Dr. Alan Rapoport
 Dr. Gopal Chopra


                                  Confidential and Proprietary