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	Mayor Menino Delivers Annual Address to Greater Boston Chamber of Commerce
12/11/2007 - Released by Mayor's Office
For more information contact Press Office at 617-635-4461
Mayor Menino Delivers Annual Address to Greater Boston Chamber of Commerce Emphasizes Growing Green Sector and Economic Expansion Mayor Thomas M. Menino today addressed businesses from across the state and announced new plans to continue fostering Boston’s sustainable growth at the annual meeting of the Greater Boston Chamber Government Affairs breakfast. Mayor Menino focused on the power of innovation paired with partnership, pointing to Boston’s life sciences community as a proven model for success and to the growing green economy as a source of growth for Boston and Massachusetts. “To build on Boston’s gains, we must come together and push toward our shared goals. We must unite our resources, so that we can continue our quest to make Boston the greatest city in the world,” Mayor Menino said. “The public sector, the private sector and our institutions and non-profits – when we put together all these pieces, we capture our full economic potential and create benefits that serve our entire city.” Mayor Menino announced a new commitment to the green economy and clean energy with formation of a new non-profit called Boston Energy Alliance (BEA) that will help realize the economic potential of Clean Tech. Over the next five to seven years, BEA will carry out a massive $300-500 million efficiency effort by providing new technical services and financing options to residents, businesses, organizations and institutions. The initiative is expected to create 2,500 new jobs in the next five years and a new partnership with Benjamin Franklin Institute of Technology, the Boston Public Schools and organized labor will train Boston’s high school graduates for these Green Collar jobs. Mayor Menino will help finance this initiative with $250,000 from the Neighborhood Jobs Trust. “I am determined to see Boston capture the lion’s share of this growing sector which will create thousands of high quality jobs for everyone from researchers to skilled laborers,” Mayor Menino said. “The Boston Energy Alliance will create a massive new market for people who provide clean tech services.” As the Boston Redevelopment Authority celebrates 50 years, Mayor Menino discussed the importance of becoming proactive in creating economic growth, while retaining the city’s core businesses. To address the short-term needs of businesses while envisioning long-term economic growth, the tools and resources at the BRA need to align better to support the programs and policies already in place. Mayor Menino applauded 50 years of development and innovation from the Boston Redevelopment Authority and was confident that new BRA Chief John Palmieri would ensure that the BRA’s future contributions would exceed its greatest achievements by combining land-use planning with economic planning. By re-orienting planning and economic development, Boston will remain competitive in today’s global competition. Mayor Menino pointed to the future of City Hall and Downtown Crossing as examples of vision and vitality downtown. Mayor Menino announced plans for a Business Improvement District (BID) for Downtown Crossing that would generate millions in annual revenues to fund continued investment that would continue Downtown Crossing’s transformation from a retail-only district to a mixed-use center of city life. While new areas of economic growth are just beginning to thrive, Mayor Menino stressed the importance of supporting other sectors of Boston’s economy. The financial services industry is Boston second largest employer, providing jobs for 80,000 people and generating over $500 million in state income tax. Building on a recommendation from the Chamber for a new partnership between financial services with the city’s business schools to create a top-tier think tank where the financial innovations can be developed, Mayor Menino announced that he will host the first discussion between business school deans and top executives in January. “When we combine innovation with collaboration, we unleash Boston’s full economic power. We need to remember that our vision for new economic growth depends on our ability to marry creative thinking with a common commitment,” Mayor Menino said. “This is Boston’s Strategy for Success and I encourage you all to be a part of it.”

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