Economic Development Tools

Beverly is a BIOReady Community!

The Massachusetts Biotechnology Council named Beverly a BIOReady community because of its policies which support the growth of the business in the community through its permitting policies, by-right zoning, public infrastructure projects, pre-permitted biotech sites, and planned development.

Beverly's HUBZone

The HUBZone program falls under the auspices of the U.S. Small Business Administration. The program encourages economic development in historically underutilized business zones - "HUBZones" - through the establishment of preferences. The benefits of locating in a HUBZone include:

  • 10% price evaluation preference in full and open contract competitions, as well as subcontracting opportunities.
  • Competitive and sole source contracting

Façade & Sign Improvement Program

The City of Beverly, in partnership with Beverly Main Streets, offers a Façade and Sign Improvement Program to help business and property owners in downtown Beverly improve their storefronts. No funding currently available.

Retail Incentive Program

The Retail Incentive Program, sponsored by Beverly Main Streets, every downtown retailer may apply for up to $7,500 in rent assistance to help offset their first year expenses. They will also receive free sponsorship of a downtown light pole banner and a 3-year membership in the Retailers Association of Massachusetts. Business owners are encouraged to apply at any time. Funding is limited and awards will be made on a rolling basis.