Beverly Main Streets Launches Campaign to Attract Specialty Retailers

Beverly Main Streets recently announced a financial package worth more than $10,000 in rent assistance and start-up services for qualified retailers to open a new business in downtown Beverly.

The Retail Incentives Program is designed to attract high quality, specialty retail businesses to occupy first floor space on Cabot or Rantoul Streets.

The types of businesses which would qualify for the program include specialty food, home furnishings and décor, clothing and accessories, art supplies, music, artist cooperatives and bookstores.

Brand new retail businesses and retailers looking to expand their existing business by more than 30% are eligible to apply.

There are two components to the program: a rent assistance grant of up to $7500 which is funded by Beverly Main Streets, plus start-up services valued at more than $3000 that are being offered by local firms to help the retail businesses get off the ground.

These include legal services offered by Handly and Cox PC and Glovsky & Glovsky LLC; computer support and data storage offered by Micro Support Group; social media consulting offered by blueSWIRLS.com; a printing and design package from My Print and Copy LLC; architecture and design services from Siemasko + Verbridge; and a free 3-year membership in the Retailers Association of MA.  Business owners are encouraged to apply at any time.

Funding is limited and awards will be made on a rolling basis. The application and information can be found at Beverly Main Streets’ website at www.beverlymainstreets.org.  

In addition to these programs for new or expanding retailers, Beverly Main Streets also offers financial incentives for any type of business located in downtown Beverly. These include the “Banking on Beverly” program, in which 6 local banks (Beverly Bank, Eastern Bank, North Shore Bank, People’s United Bank, Salem Five, TD Bank) will offer low-interest loans of up to $100,000 for major building improvements; the Facade and Sign Improvement Program which offers a $5000 matching grant to businesses looking to get new signage or upgrade their storefronts; and the STAR Program which helps businesses to purchase flower boxes, flags and paint to help spruce up their businesses.

These programs are part of the comprehensive Downtown 2020 plan which is focused on revitalizing the downtown district through economic development, design and promotion. For more information about the Retail Incentives program or Beverly Main Streets, contact Gin Wallace at 978-922-8558 or visit www.beverlymainstreets.org.