Many businesses have closed or left Worcester. Many more are looking to follow. Businesses, like residents, are having to make some crucial decisions for their survival in these economic times. In the case of businesses, the affect on the community are often hard felt.

Whether it be loss of jobs, loss of revenue to the city, or losing the support of the local community when it comes to the many non-profits and services that the city is not always able to provide such as supplies for our schools, pools and beaches, concerts in the park, cultural events, little leagues and much more.

SHIFTS IN JOB GROWTH

According to the Worcester Regional Research Bureau, low unemployment, high labor force participation, and job growth are key indicators of the health and stability of a local economy. From 2001 to 2007, Worcester lost more than 2200 jobs. County wide, the job force increased.

As employers choose locations outside of the city, residents may lose jobs due to consolidation of resources or have to drive farther to get to work every day.

MARKETING EFFORTS EYE OPENER

Several marketing efforts have been undertaken over the years specifically to lure businesses to Worcester. While there have been some success stories, often times the city must offer special tax incentives to consummate the deal. The feedback that has been received is that among the many considerations a business makes when choosing a location, one of the key factors is the tax rate. Most businesses will avoid a city or town that has a dual tax rate if possible.

• As businesses leave, the burden of making up the shortfall in taxes will eventually fall on the residents. As businesses leave, jobs leave.
• As businesses leave, it is harder for non-profits to get the financial support they need to operate.
• As businesses leave, you, the consumer have to drive farther for goods and services which takes time and money.

MORE BUSINESSES MEANS MORE MONEY FOR CITY SERVICES

As Worcester moves to a single tax rate, it will open the door for marketing investment to flourish which will in turn increae our tax base. Bringing more businesses to the city means more money the city can invest in services, safety, schools and infrastructure improvements. It will also provide more job opportunities which will not only offer the ability for some of our residents that are struggling with their mortgages to save their homes but also provide for their family.

Why should you care? Because a strong, vibrant city is made up of residents and businesses which build a strong community for all.