| Business & Industry
Ranked number one in the state in entrepreneurial start-ups for the past decade, Waltham is the center for new and existing businesses. Waltham’s central location provides excellent accessibility, making the region a prime location for continued commercial growth. Major highways and one of the nation’s best public transportation systems link the Waltham area with every market in the Northeast.
Pharmaceutical, software, precision instruments, computers, and defense products, make up a major portion of the economy in the Waltham West Suburban area. In Waltham, more than 50 percent of non-government employment is in high technology industries. The average wage of those employed in the area exceeds $62,000. Waltham, Weston, and Lincoln are in Middlesex County where the per capita income is approximately 18 percent above the state average as reported in the census.
The Central Business District in downtown Waltham has undergone major changes in recent years. The reuse of the land which Grover Cronin’s department store once occupied has been developed into a first-class housing and multi-retail specialty complex. Adjacent to the complex is a walking trail and a boating dock for recreational boating on the Charles River. This crowning jewel to downtown has spurred additional new projects including first-class restaurants offering a variety of ethnic foods. The Boston Globe labeled the area “Restaurant Row.” Living and working along the Charles in the future will be ideal for those interested in a cosmopolitan, yet suburban lifestyle.
Waltham’s neighboring communities within the West Suburban area also boast beautiful downtown shopping districts and expanded options for entertainment and dinning. Quaint New England “down towns” such as Lincoln, Lexington, and Concord balance larger downtown’s such as Watertown and Newton. A multitude of shopping options, including malls, are available in the Waltham West Suburban marketplace and Greater Boston.
High-Tech Highway
In the 1950’s, Route 128/95 was built around Boston from Braintree in the south to Gloucester at the northern end of Massachusetts Bay. The new highway brought with it the development of high-tech industries and a second industrial revolution to the Waltham area. In fact, the Route 128/95 corridor, often referred to as the “High-Tech Highway,” represents one of the nation’s first and largest concentrations of such industries, particularly in research and development, telecommunications, biotechnology and computer hardware and software production.
A growing number of multinational companies such as: Verizon, AstraZeneca, Novell, Polaroid, IBM, Raytheon, Thermo Fisher Scientific Inc., Genzyme Corporation, Fresenius Medical Care North America are located in Waltham West Suburban’s expanding high-tech business community.
The Future
Already the home of more than 3,000 business and professional firms, the Waltham area has room to grow and offers many advantages to new and relocating businesses. Waltham ranks third, after Boston and Cambridge, in development as a result of its stable economic base. On behalf of the business community, the Chamber continues to promote a pro-business attitude to local government agencies.
The entrance to the Riverwalk Park in downtown Waltham is prime for growth along the banks of the Charles River. New zoning allows for a variety of commercial uses, including mixed-use projects and opportunities for new establishments, particularly retail and hospitality businesses.
The Waltham West Suburban Chamber of Commerce is active in assisting commercial growth and business relocation by advocating the streamlining of the permitting process and keeping municipal fees low. Taxes are also low and commercial lease rates are more reasonable than in Boston and many of its suburbs. We strive to maintain an atmosphere of cooperation between local government, businesses, and property owners working for a better community and metro region.
Where to Stay
Waltham hosts corporate travelers throughout the year with over 1,700 hotel rooms within one mile of Route 128/95. Expanded conference and exposition facilities accommodate the numerous high tech, communications, research and development, and healthcare industry based businesses in the region.
For more information on the area’s accommodations, visit: www.walthamchamber.com or www.discoverwaltham.com.
Business information
Mass Department of Revenue
P.O. Box 7010, Boston, MA 02204
www.massdor.com
. . . . . . . . . . . . . (800) 392-6089
Property Tax Information
Division of Local Services
www.dls.state.ma.us
Individual Income Tax Earned (2007) 5.30%
Dividends and Capital Gains (2007) 5.30%
Sales & Other Taxes
Sales Tax 5%
Meals 5%
Auto Excise Tax $25.00/$1000
Corporate Income Tax
Net Income tangible property 9.5%
Or net worth $2.60/$1000
Minimum $456
Source: Mass Dept. of Revenue
www.dor.state.ma.us
Business Resources
Waltham West Suburban Chamber of Commerce
84 South Street, Waltham, MA 02453-3537
www.walthamchamber.com
(781) 894-4700 x120 / Fax: (781) 894-1708
Contact the Chamber to schedule appointments with M.O.B.D.,
S.B.D.C. & S.C.O.R.E., and to Purchase Certificates of Origin.
Massachusetts Office of Business Development (M.O.B.D.)
www.state.ma.us/mobd
. . . . . . . . . . . . . (617) 973-8600
Service Corps of Retired Executives (S.C.O.R.E.)
www.score.org
. . . . . . . . . . . . . (617) 565-5591
Small Business Development Center (S.B.D.C.)
www.bc.edu/centers/sbdc
. . . . . . . . . . . . . (617) 552-4091
City of Waltham Building Department
- Business Permits & Zoning
. . . . . . . . . . . . . (781) 314-3275
City of Waltham Planning Department
- Office of Economic Development
. . . . . . . . . . . . . (781) 314-3370
Business Paper Recycling
JET-A-WAY, Inc.
www.jet-a-way.com
. . . . . . . . . . . . . (617) 541-4000
United States Small Business Administration (SBA)
www.sba.gov
. . . . . . . . . . . . . (617) 565-5590
State Agencies
Boston U.S. Export Assistance Center
www.usatrade.gov
. . . . . . . . . . . . . (617) 424-5990
MA Business Development Corporation
www.mass-business.com
. . . . . . . . . . . . . (617) 350-8877
MA Capital Resource Company
www.masscapital.com
. . . . . . . . . . . . . (617) 536-3900
MA Department of Economic Development
www.massconnect.state.ma.us
. . . . . . . . . . . . . (617) 727-8380
MA Export Center
www.state.ma.us/export
. . . . . . . . . . . . . (617) 478-4133
MA Industries of the Future
www.maiof.org
. . . . . . . . . . . . . (617) 565-9765
MA International Marketing Department (Massport)
www.massport.com/business
. . . . . . . . . . . . . (617) 565-3100
MA Technology Development Corporation
www.mtdc.com
. . . . . . . . . . . . . (617) 723-4920
MA Trade Office
www.state.ma.us/moiti
. . . . . . . . . . . . . (617) 367-1830
State Office of Minority & Women Business Assistance
www.state.ma.us/somwba
. . . . . . . . . . . . . (617) 973-8692
Employment Figures/Employment 2007
|
Unemployment Rate |
Median Household Income |
Waltham |
3.75% |
$63,000 |
Weston |
2.8% |
$145,000 |
Lincoln |
2.9% |
$135,100 |
Source: Mass Dept. of Employment and Training www.detma.org
Largest Area Employers
AM-PM Cleaning Corporation
AstraZeneca
Automatic Data Processing
Bank of America
Bentley College
Boston IVF
Brandeis University
Caritas Saint Elizabeth’s Medical Center of Boston
Children’s Hospital at Waltham
Citizens Bank
Doubletree Guest Suites Hotel
FM Global
Foster-Miller Inc.
Fresenius Medical Care North America
Genzyme Corporation
Home Depot
IBM
Keyspan Energy/National Grid
Lahey Clinic Hospital, Inc.
Massachusetts Medical Society
Middlesex Savings Bank
MJ Research
Mount Auburn Hospital
New England Journal of Medicine
New York Life Insurance
Newton-Wellesley Hospital
Nova Biomedical Corporation
Novell
PAREXEL International Corporation
Polaroid Corporation
Raytheon Company
Simpson Gumpertz & Heger Inc.
Sovereign Bank
TD Banknorth
Thermo Fisher Scientific Inc.
Tufts Health Plan
Verizon
Westin Waltham-Boston Hotel
WCI
Westin Hotel
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