PEOPLE

A daytime population of over 15,000 students, residents, and workers crowd the streets of Downtown Lowell each day. Over 255,000 people reside within 7 miles of Downtown with an average household income of $71,482, and an average family income of $83,267. In addition, the City plays host to hundreds of thousands of tourists each year that attend the Lowell Folk Festival, concerts at the Tsongas Arena, Sporting Events, Lowell Spinners games, and the Performing Arts.

PLACES

Home of a National Historic Park, professional baseball and hockey, eight museums, an award-winning theatre, and the largest free folk festival in the country all of which contribute to over 2 million visitors to the Downtown area each year.

PARTNERSHIPS

Lowell's public-private economic development team has produced investments of $350 million in restoration, business development, and new growth during the city's revitalization efforts. $3.6 million were spent in physical improvements in Downtown Lowell alone.

INCENTIVES

The Economic Development Office provides an array of programs and financial incentives available to businesses and real estate developers doing business in Lowell.

INVESTMENT

The Downtown Venture Fund, administered by the City and local financial institutions, is a low-interest loan fund dedicated to development of retail, restaurants, and arts and entertainment venues. In its three years, the Fund has loaned over $2 million to assist in the opening or expansion of 23 new businesses in the heart of Downtown.

CREATIVITY

A burgeoning Arts District has attracted new residential and live/work space. Over 300 new units have been recently developed in Downtown. The Artist District is anchored by several museums, including the recently relocated Renewal Communities in Massachusetts, a designation that offers a myriad of tax incentives for businesses. Downtown is also an Economic Opportunity Area which makes businesses eligible for many additional local and state incentives

PARKING

Yes, Parking is available and cheap in Downtown Lowell! Four City-owned garages and one City-owned parking lot offer low rates and convenience as all of Downtown is within walking distance of a major parking facility.

HISTORY

The first industrial City in the country has since undergone a renaissance, but the signs of history remain throughout the Downtown. The entire Downtown is governed by a Historic District, which protects the integrity of the historical value and uniqueness of the City while working with businesses to promote economic development.

ACCESSIBILITY

City officials are accessible and committed to the development of Downtown Lowell. Partnerships between the private and public sector have made the City of Lowell special. Businesses will find the City of Lowell to be friendly, open, and always willing to help.