Over the past several years I have asked many people what they think will be the next generation economic driver for the greater Peterborough area. I have not heard an answer yet.
First, let’s take a step back and review the history of economic development in Peterborough.
We started as an agrarian society in the 1700s and moved to a hydro powered industrial economy in the 1800s, e.g. Union Mill in West Peterborough, Noone Falls in South Peterborough and the downtown mills – the current Depot Street Parking lot was a large mill. Fast forward to the 1960s when we were a retail center with the development of the Monadnock Plaza. On to the publishing era and real estate centric national firms across from ConVal – EMS, Brookstone, NEBS and Millard group. They are all gone and beg that lead question: What is the next gen driver that will make the Peterborough economy viable and sustainable?
This is not a local issue. I have been working with the Keene-based Hannah Grimes Center on an initiative to address the issue on a regional basis – Peterborough to Keene to Brattleboro.
This makes sense – many would be happy to commute between Keene and Peterborough for a well paying job. We are not medieval fiefdoms competing with each other.
Several focus groups attended by regional business, industry, non-profit, etc. leaders share some common data points, including: state data indicates that manufacturing jobs are down 22 percent and Cheshire County – our next door neighborto whom we are more related than Manchester – wages are at or near or below the 10 New Hampshire counties; leaders from several sectors like light manufacturing, small tech, even an architectural firm agree that one of their greatest challenges is to attract/recruit qualified younger employees – NHBB faces this same issue – housing is a corollary issue.
Unlike the old strategy of the 1960s to develop commercial space and they will come, digital aged companies, small and large, do not care about real estate. They care about exceptional cellular and internet connectivity, and of course, qualified workers – still an issue in Peterborough.
Where to start?
As a Select Board Member, I championed the creation of the first Peterborough Economic Development Officer about 10 years ago – Jack Dugan of the Monadnock Economic Development Corporation which churned a few million dollars to our local economy, including $500,000 of free money to MCH. Jack’s primary rule of economic development is to retain what you have. Several years ago I met with Mr. Roy from Roy’s Market and asked him if there was anything the Town could do better, assist his business or did he have any complaints. He said that he had been in business for 38 years and no Selectman had ever asked him a question. Lesson learned – the basic courtesy of common outreach. This is not a knock on Peterborough – in recounting this experience, I asked the Keene based focus group whether anyone from any organization had reached out to C&S, their largest employer and a huge contributor to the arts and local nonprofits. Same answer.
A daunting task … and where to start?
What is clear from the Hannah Grimes initiative is that there are several stars and planets in the black sky, none of which coordinate with each other – no universe. In the region, including Peterborough, economic development needs a Sun. The stars and planets cannot succeed on their own. So, the creation of a “hub” is the way I would go.
The “hub” would inventory the needs of existing businesses, including their needs like recruiting, housing, Internet and cellular connectivity, to name a few.
It would collaborate with the various stars and planets like the Chamber of Commerce, Town of Peterborough, City of Keene, Economic Development Corporations, etc. and develop a united strategy. It will require a dedicated resource which does not exist now, although the Town of Peterborough has appropriated money for economic development, the specifications for which are being developed.
Joe Byk lives in Peterborough.