I wanted to thank Ben Myers for taking the time to raise a few questions about the [Ayer road] market survey.
Mr. Myers is correct that the Office of Community and Economic Development serves Harvard and its citizens and businesses. Our current consultant is working on a market analysis that includes survey data but also includes interview data and secondary commercial real estate (CRE) datasets from services such as CoStar, in order to collect demographics, transaction data, absorption rates, finance, and more. Our project scope itemizes the information we will be getting.
There isn’t a single business existing in Harvard that survives on just our residents. Professional offices, retailers, and service businesses all need a market that nearly always extends well beyond a town boundary. Just as we go to businesses beyond our borders, others come to us. So, part of this analysis is collecting information related to Harvard and adjacent community spending on professional services, eating out at restaurants, and so on.
Think about the renovated bowling facility, the Harvard General Store, Fruitlands Museum, and the apple orchards and farms. None of them could survive on Harvard residents alone as they attract visitors from far and wide. They bring in critical external dollars that contribute to the local multiplier effect, and the more those dollars can be captured locally and re-spent locally, the better off Harvard’s economy and tax receipts will be.
This concept as well as the entire rationale for the Ayer Road project is included in the handouts and reports on the project website that we encourage people to visit and check out. Finally, this Phase 1 project is being fully funded by a planning grant from the Massachusetts Executive Office of Energy and Environmental Affairs. and the Planning Board is grateful for this support.
Christopher J. Ryan, AICP, director
Community and Economic Development
