“A new approach is called for on the waterfront – one that is both more deliberate and more experimental. The massive expanse of the South Boston waterfront, with its existing knowledge base, opportunity for growth, and world-class infrastructure is ripe to produce world-class products and services.”
– Mayor Thomas M. Menino
The Innovation District is Mayor Thomas M. Menino’s initiative to transform 1,000 acres of the South Boston waterfront into an urban environment that fosters innovation, collaboration, and entrepreneurship. From a tech meetup at a coworking space to an art exhibition opening, to the launch of a new start-up or a special chef’s event at a local restaurant, the Innovation District is expanding quickly.
The Innovation District is nestled between Boston’s transportation gateways: abutting historic Boston Harbor, adjacent to Logan International Airport, and at the nexus of two major interstate highways. It also contains the largest tract of underdeveloped land in the city of Boston, and is an area with opportunity for growth, a strong existing knowledge base, and the ideal location for producing new ideas, new services and new products.
In the three years since the initiative began, the area has grown rapidly. The growth is spread across a diverse range of companies in different sectors and at different scales. Here are selected highlights of all we’ve accomplished in just a few short years:
- Added over 5,000 new jobs in over 200 new companies
- Technology companies have contributed 30% of new job growth
- 21% of new jobs are in creative industries like design and advertising
- Greentech + life sciences are growing, with 16% of new jobs in these sectors
- Of the new companies, 11% are in the education and non-profit sectors
- 40% of new companies are sharing space in co-working spaces and incubators
- 25% of new companies are small scale, with 10 employees or fewer
…And More on the Way!
Many other companies have announced plans to join the Innovation District community, and will add another 4000+ jobs to the neighborhood.