EDIC’s Role
Gloucester’s Economic Development and Industrial Corporation is one of several organizations working together to promote businesses and jobs in Gloucester. A state-chartered corporation, the EDIC has authority to acquire, fund and develop land and buildings that support economic development with a primary focus on industrial and manufacturing projects and collateral activities. It works closely with the City of Gloucester, the Cape Ann Chamber of Commerce, the Tourism Commission and related organizations. These groups work together to enhance business and employment opportunities. The EDIC can help guide businesses locating or expanding in Gloucester through various city and state processes leading to successful outcomes.
EDIC’s Mission
The mission of the Gloucester EDIC is to retain existing businesses and create new economic opportunities within the City of Gloucester by:
- identifying expansion opportunities for traditional and emerging industries consistent with EDIC authority and resources;
- maximizing the economic value of assets originally developed under EDIC authority; and,
- being an advocate for projects and policies that support job creation and economic growth.
Industrial Parks
The Gloucester EDIC developed two industrial parks, Blackburn with access from Route 128 at Blackburn Circle, and Cape Ann on Kondelin Road two miles from Route 128 near Route 133. Among companies in the two parks are Applied Materials, an international high-tech, semiconductor leader, C.B. Fisk, a renowned manufacture of pipe organs, a variety of marine-related and seafood companies, such as Intershell and Neptune’s Harvest, and the Atlantic Regional Fisheries Office of NOAA. The parks contain 1.5 million square feet of space. While much of the space is occupied various properties are available for rent and for re-sale by current owners. EDIC will work with prospective tenants and buyers.
History
Gloucester EDIC was formed in 1977 under Chapter 121 C of the Massachusetts General Laws, which allows municipalities to form a governmental corporation to carry out economic development projects, pursuant to economic development plans which are approved by the City Council. These projects focus on developing industrial parks with infrastructure and lots of land within the City to increase employment, generate tax revenue and increase business activity. The EDIC continues to work with City officials and other economic development organizations to identify potential new opportunities for development.
