Southborough takes in about 20 percent of its tax revenue from businesses. The Metrowest Daily News reports that figure is on the low side compared to some neighboring towns which get up to 50 percent of their tax revenue from business.
A group of Southborough residents told selectmen recently they want to look at ways of fortifying Southborough’s businesses community in the hopes of bolstering the town’s tax base.
“There’s a lot of low-hanging fruit I think a strong economic development committee could address,” resident David Ferris recently told the board. “There’s a pretty big opportunity, we think, to potentially decrease the residential tax burden, balance our budget and protect this sort of fragile business base that currently exists in Southborough.”
The residents have petitioned selectmen to reinstate the town’s Economic Development Committee — which apparently existed in one point, but not in my (admittedly short) memory — to study ways to support businesses in Southborough.
You can read more in this article from the MWDN.