Like many thriving New England towns, Peabody is a vibrant mixture of the historic and the new. We've found creative new uses for the buildings left over from the tanning industry, built the North Shore's largest shopping mall, and created a high tech business and industrial park the envy of any community. We are a well-balanced mixture of commercial and residential and a blend of development and open green spaces. Peabody is strategically located at the crossroads of Route 128, I-95 and Route 1, and is only 17 miles to Boston and Logan International Airport.
With a quality of life that attracts and retains employees, a competitive wage structure, higher educational attainment and enrollment, Peabody is an ideal location for businesses.
- Estimated median household income in 2011: $64,577
- High school or higher: 89.3%
- Bachelor's degree or higher: 30.0%
- Graduate or professional degree: 11.1%
- Mean travel time to work (commute): 24.5 minutes
- Unemployment in August 2012: Peabody 5.8% vs Massachusetts 6.4%
The Chamber prides itself on being a strong voice for business and have representation on the Mayor's Economic Development Council, Downtown Revitalization Committee as well as local and regional groups such as the Massachusetts Association of Chamber of Commerce Executives (MACCE) and North East Chamber of Commerce Executives (NEACCE). We actively promote our members, and we maintain close contacts with local and state level legislators. Peabody enjoys some of the lowest residential taxes in Essex County and our commercial/industrial taxes are lower than most of the surrounding communities.
Peabody’s public and private sectors work together to help create an atmosphere for new job creation. In partnership with the City of Peabody, the Peabody Area Chamber of Commerce provides assistance for site location services and referrals:
- Site & Building Searches
- Small Business Assistance Referrals
- Employee Recruitment & Training Programs
- Construction Permitting Assistance
- Business Liaison
The City of Peabody's proactive approach to economic development resulted in the establishment of a revolving loan pool of funds administered by the Department of Community Development and Planning and a five member quasi-public Community Development Authority (CDA). The Business Loan Program, including Micro Loans, is a flexible source of loan funds for commercial and industrial projects, the purpose of which is to encourage the creation/retention of quality jobs and to increase the tax base. Download a Fact Sheet
Along with our member businesses, the Chamber of Commerce is committed to being part of the process, part of the solution, and definitely part of the community. We believe Peabody is a city of opportunity, and we are a vital part of that Peabody Pride.
"We appreciate how welcoming and supportive the Chamber has been througout our whole process of relocation and expansion, and we are excited to get to know other businesses owners in the area."
- Bob & Anita Gokey, owners, Karl's Sausage Kitchen and European Market