25. presentation on fr business and industry overview

Welcome to Fall River

Fall River is the Economic Hub of Bristol County.

The City of Fall River accounts for approximately 40% of total employment within the Massachusetts portion of the Providence to Fall River metropolitan area.

While NAFTA, and the National Recession took its toll on local industry and commerce, tangible growth is observable all across the Fall River metro area.

To Fall River’s credit, there was a proactive and steadfast effort prior to the Recession, led by local business leaders, government, FROED and the Chamber, in taking measures toward improving the business climate. These initiatives have diversified the economy and nourished it with new infrastructure that is generating economic opportunities.

The sum of these actions are having measurable positive economic impacts to the Bristol County region. It is why Fall River is getting a lot of attention as the economic hub for relocating or growing a businessin Southern New England.

Fall River, Massachusetts

Proud History

Fall River was originally called “Quequechan,” which meant “falling water” by the Wampanoag Indians. The Wampanoag’s named the area for the river that turned into steep falls before flowing into the Taunton River.

An abundant water supply along with access to the Taunton River made “Falling River” a great place for colonial settlement. The Quequechan River soon attracted people from all over the world.

Individuals and their respective cultures of origin give Fall River the diversity of character that is commonly seen in a New England city. Respect for all cultural heritage is the basis of local pride that characterizes the spirit of Fall River’s residents.


Rise of Business and Industry

By 1920, Fall River’s 100 mills supported a population of 130000 people.

Many were of Portuguese, French Canadian or Irish immigrant origins. Each of the groups brought with them a very strong work ethic. As the region developed, Fall River became an economic giant that led in health care, culture and vocational education.

It was in the 1920s that the bottom fell out in the textile manufacturing industry.

The garment industry of New York moved in to take advantage of the vacant mills, which were converted to outlets with light manufacturing and retail spaces.

The garment dominated industrial niche supported much of the Fall River economy until the late 1970s and 1980’s.


Embracing Tomorrow

The development of a diversified economy built on financial, niche manufacturing, green technology, medical, life sciences, transportation, distribution, professional services and a creative economy serves as the catalyst to sustainable growth for generations to come in Fall River.

A collaborative effort is underway by private, government and education partners that is focused on modernizing existing assets while simultaneously developing the innovative technology economy of the 21st Century.


Fall River Infrastructure

The new Fall River is emerging before our eyes

Significant transportation infrastructure projects are either underway, or completed.

Completion of the Veterans Memorial Bridge compliments the new Route 24 interchange system. These infrastructure accomplishments create direct highway access to the SouthCoast Life Science and Technology Park in Fall River via Innovation Way.

Replacement of the Route 79/I-195 interchange ramps system is almost completed. Removal of the old ramps and their replacement with a waterfront boulevard is a great investment opportunity for developers.

The new waterfront boulevard will include 10 developable acres and provides a welcoming entrance into Fall River as travelers pass Battleship Cove, the Marine Museum, Heritage State Park, Bicentennial Park and the Iwo Jima World War II Memorial.


Commercial Transportation

Railway lines running along the Fall River waterfront are active with commercial freight moving in and out of Fall River daily. These rail lines have been enhanced to allow for higher freight rail speeds, which allow for increased commercial and tourism opportunities.

Industry uses the deep water Taunton River waterway for commercial enterprise. The potential for “niche” short sea shipping at the State Line Pier was talked about for years. Today it is being realized due to multi-million dollar enhancements to the existing state pier facilities that allow for expanded docking and greater roll on/ roll off capabilities.

Commuter ferry service from Fall River to Block Island and other destinations is another addition to the waterfront area.


Industrial and Commerce Parks

As businesses and government are investing in Fall River new jobs are being created while old industries have been finding inventive ways to compete and grow.

In both the 500 acre Fall River Industrial Park and the 160 acre Commerce Park, over 65 businesses employ more than 6000 people.

Products ranging from niche textiles, advanced fabricated machinery, food products, medical sutures to solid state lighting fixtures are designed and manufactured by such prominent firms such as Lightolier – Phillips, Millstone Medical, Eastern Ice, Exemplar Pharmaceutical, Blount Fine Foods, H&S Tool and Engineering, Whirlpool, RI Novelty, Rex-Cut Products, Inc. and John Matouk & Co.


Life Science and Technology Park

The 300 acre SouthCoast Life Science and Technology Park at Fall River has been express zoned as the Commonwealth’s largest 43D district and accommodates biotech manufacturing, medical device manufacturing, life science, IT and other industries.

Abutting Route 24, land is available for up to three million square feet of development. Building sites are adjacent to all existing utilities and it can accommodate water usage of 1.5 to 2.0 million gallons per day.

The MassBiologics SouthCoast facility in public-private partnership with the University of Massachusetts is open for business.

Amazon recently opned a 1.2 million-square-foot, large-item fulfillment center on a 90-acre site in the park. The project has already created more than 600 area jobs. More are anticipated in 2017.


Healthcare Industry Cluster

Healthcare is the top industrial sector within Fall River.

Approximately 30% of Fall River’s jobs are in some way connected with the healthcare industry.

It is reported that the health care industry contributed $484 million in payroll to Fall River alone in 2013.

Fall River currently has two growing regional hospitals and numerous medical facilities, along with many support agencies such as People, Inc., that are located throughout the city.

Lifespan’s Hasbro Children’s Hospital has recently expanded services and offices in Fall River.

A specially designated medical zone was produced for Prima Care in 2013. Additional medical zones are proposed for other areas of Fall River.


Workforce Education

Helping the workforce transition into the skills needed in a 21st century work environment that is technology driven has been a challenge to many Gateway Cities. Fall River is leveraging all economic and educational organizations and resources including area schools, universities, colleges, financial institutions and businesses.

The Center for Workforce and Community Education and the Workforce Institute at Bristol Community College in Fall River is a model effort that is making a difference. BCC’s Workforce Center trains individuals for success in biotechnology, niche manufacturing, hospitality, green construction and medical support services.

The Center for Workforce and Community Education is unique in that it connects individuals, organizations, and businesses with BCC’s comprehensive training, consulting, and pre-employment services. The Center also specializes in assisting corporate clients to obtain alternative sources of funding for customized training programs, continuing education programs on line and face to face.

The Center for Workforce and Community Education is the Massachusetts model in employment education. This regional asset is located in Fall River at the Commonwealth Landing building.


Supportive Business Climate

Sustainable economic development cannot exist without the support of local government and the participation by the business community.

Fall River offers:

◦ Updated, Streamline and Transparent Zoning;◦ Medical District, 43D, Waterfront District and Creative Economy Zone;◦ Market Rate Housing for Professionals;◦ $10,000.00 Small Business personal property tax exemption; ◦ Infrastructure that supports business needs;◦ Community Effort at Image Enhancement;◦ Highest number of Level 1 schools in a Massachusetts industrial city; ◦ Lower business costs;◦ Unique collection of business advantages and natural resources; ◦ Real estate, including raw land and existing space, is inexpensive when

compared with other parts of Massachusetts;◦ The city’s tax, water and sewer rates are among the lowest in the state;◦ Electric and gas costs are competitively priced;◦ State-of-the-art multi-communication networks meets the highest

technological standards; and◦ Access to a superb higher educational network.

Fall River really is a “City on the Move.”


For additional informationFall River Area Chamber of Commerce & Industry

200 Pocasset StreetFall River, Massachusetts 02721

Phone: (508) 676-8226Fax: (508) 675-5932

[email protected]


25. presentation on fr business and industry overview

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