We want you to live, work, and play on the South Shore.
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The South Shore of Massachusetts is in the enviable position as a choice location to live and do business. The region has tremendous strength due to its mix of:
While it is tempting to point to these assets to halt change, it's important to look at the data about the health of our region's economy. The research reveals some early warning signs that should be of concern to our region and that we will need to address should we wish to have a robust, thriving economy on the South Shore for future generations. |
Key Findings
- We are aging faster than any other metro Boston region. We need to attract younger adults and families to the area by encouraging more the development of more interesting centers of activity -- think restaurants, gyms, coffee shops in walkable, accessible locations. South Shore over 65 population will double from 2010 - 2030, while the 25 -64 age group will decline by 3%.
- Our top industries (retail and financial services) are contracting and shedding jobs. We need to attract more businesses and diversify our economic base.
- Businesses in our region are having trouble finding talent and workforce. Baby boomers comprise 49% of the labor force. 1 million workers now over the age of 40 will be retired by 2030 (39% of the labor force). Existing population is insufficient to fill vacant positions.
- We have a housing shortage.Why is housing supply a critical problem? Because jobs follow talent! We need new types of housing and a lot more of it.
The region's largely suburban orientation and high housing costs negatively impact its competitive position to retain and attract skilled young professional talent. - We need to open up our water and sewer capacity. We need to work collaboratively to open up future opportunities for development by opening up our water and sewer capacity.
