Peabody Now Among 26 'Gateway Cities' in Mass.
With the new status comes access to targeted state aid for housing and economic development projects and/or preference in broader, statewide programs.
Peabody is now listed among 26 "Gateway Cities" in Massachusetts after a review by state officials of recent local data found mid-range household incomes fell below the state average along with the number of adults who hold a four-year college degree. While on the one hand, that's discouraging news for the Tanner City, on the other hand, it does mean Peabody has greater access to state aid for housing and economic development projects. “Our Gateway Cities possess tremendous potential and opportunities and the Patrick-Murray Administration’s emphasis on these communities is designed to help unlock that potential,” said Secretary of Housing and Economic Development Greg Bialecki in a statement. “By continuing to invest in innovation, …
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John Castelluccio
9:37 am on Monday, March 4, 2013
Just to clarify, the income data used for this distinction is not focusing on just low-income households. It's the median household income in Peabody, which is now $65,471 and just below the state average of $65,981, according to the Executive Office of Housing and Economic Development. more ›