Here are some thoughts on our current regional economic climate, including a historical perspective on The Petersons, Inc.
My grandfather founded our company in 1948, having moved from Nashua to Peterborough in 1945. After a series of successful business ventures and travel around the world, he became interested in the relatively new science of “demographics,” which he applied to the decision of where to relocate.
After considerable study, Walter R. Peterson, Sr. determined that Peterborough would be the optimal location. The convergence of roadways and rivers, the valley village center most accessible as a market place for a dozen or more surrounding towns, the hospital, schools, cultural amenities, natural beauty and cosmopolitan populace were just a few of the appealing factors he perceived when he drove over the mountain and purchased the “Peteridge” house over 70 years ago.
Upon my father and uncle’s return from service in the war overseas, the real estate office was first established in the wing of that very home, set on Route 101 above Cunningham Pond.
During the decades of the 1950s, ‘60s, ‘70s and thereafter, my father Walter and uncle John Peterson were much engaged in community development during a period of growth that doubled the size of our town and put in place the building blocks of the local economy we enjoy today.
Local business leaders with vision and commitment founded the Peterborough Industrial Development Corporation, which succeeded in bringing into being not only the industrial areas to the north and south of town along Route 202, but also major commercial developments and residential subdivisions such as the 100 or so homes in Pineridge.
Prime residential neighborhoods were established along Kaufmann Drive, Orchard Hill and Lookout Hill Roads and elsewhere on land formerly owned by the Cheney family. Many of these homes, built by the LaRoche brothers, were featured in pen and ink drawn advertisements by our firm in national publications describing the many virtues of life in the “Currier and Ives” corner of New Hampshire.
In the following decades though the present day, my cousin, Heather Peterson, and I have led the firm through a changing local environment and three major growth cycles, recessions and recoveries.
However, our belief in the unique quality of life offered in this region and in the wisdom of our fathers’ and grandfather’s understanding of the basic building blocks of our success have endured.
First and foremost, our local success is built upon the unbreakable bond we feel to one another and understanding that we are in it together. Critical is the ability to attract and retain basic industries, which provide reliable employment.
We are not likely to succeed as merely a bedroom community or destination resort. Our intrinsic appeal is in being the kind of area where people live, work and raise a family. Although we are no doubt also a fine place to visit or retire, this is doubly so because we are a real community where people of all generations and varied backgrounds come to work and live.
During the time our office has been at work serving our region, many businesses have come and gone. Prior to the time my grandfather came to town, the American Guernsey Cattle Club was a primary local employer.
In our time, we have seen Electropac Corp. become Honeywell and later become the South Meadow School, the publishing industry rise and fade and great companies like Brookstone and EMS grow to prominence, be acquired and later seek reorganization.
Through all these times, we find that we must constantly recreate our economic base, attract new employers, and be open to changes that are the consistent character of a free market.
We are blessed in our community with good schools, a critical care hospital, reasonably priced housing, low crime, a beautiful natural environment, and great recreational amenities. We live in an area, accessible to major shopping and urban centers, with an unmatched quality of life.
Our economic development authority is laser focused on improving fast Internet services for our region and has the active support of our elected officials in achieving that critical goal.
Promoting business development, retention and growth not only provides necessary employment, but serves to strengthen our tax base, reducing the burden borne by residential property taxpayers.
Bringing a post-secondary institution here, focusing on job training and adult education, would be a great support to these efforts.
We have ample water and sewer capacity, a great stock of affordable business space and a creative and inventive population capable of spawning 21st century growing enterprises in our midst.
Like our forefathers before us, we live today in a community poised to once again reinvent itself, and in so doing, to become even more of that which we have been all along!
Andy Peterson is vice president and co-owner of The Petersons, Inc in Peterborough.
He heads up the commercial sales division.