Belmont Business Strategy

Belmont Business Strategy

August 2019

Belmont Business Strategy

The Belmont Business Strategy is an economic development strategy that identifies demographic and economic trends within Belmont and the region so that the Town can set a strategic course to grow its economic base to improve fiscal stability while building on and respecting the existing strengths and character of the community.

Belmont’s Planning Principles

  • Belmont is committed to strengthening existing businesses and diversifying its business types.
    Planning will take into account a mix of uses, especially affordable housing for millennials, families and our aging population, live/work space, arts and culture destinations and retaining basic service businesses.
  • Public infrastructure to support development should be planned at the same time, especially public transit facilities, schools, complete streets and addition of open space.
  • Specific design and infrastructure need to activate the street, be designed for the future and environmentally friendly.

Next Steps and Priorities

  1. Form an economic development committee for the purpose of researching and implementing ideas to bring about economic growth within town and to further support the efforts of the commercial community.
  2. The Town should create a position to serve as an Economic Development Coordinator between the Belmont EDC, Town departments, and local businesses.
  3. Review zoning and permitting procedures as well as regulatory laws and identify mechanisms to streamline business regulation and expedite permitting to provide regionally competitive and responsive services in a way that does not compromise quality development.
  4. Further planning processes, incentives and marketing that could grow the town’s economy and promote the Town’s business friendliness.
  5. Create information guidelines to assist businesses in locating and expanding in Belmont.
  6. Create a visually attractive public realm, including wayfinding, beautification efforts, and local art.
  7. Further promote and expand upon special events and shopping experiences that encourage residents to shop local and develop support for the business community.
  8. Promote intermodal forms of transportation, especially to each business district.
  9. Improve the character of each of the commercial districts.
  10. Update the Town website to provide more detail about economic development.
  11. Establish a town regular newsletter focusing on recent, current, and future town activities, including economic development.
  12. Continue to implement the Town Business Survey.