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A Message from the Mayor

Welcome to Peabody. We value your business and want to do everything we can to help you succeed. This website is designed to answer your questions and help walk you through the permitting process so you can spend more time running your business and less time at City Hall. In Peabody, we share pride in our beginnings as a farming community, followed by our growth as an industrial center of New England’s leather industry and now in our evolution as a driving force of the region’s economy in the 21st century. By partnering with businesses like yours, the possibilities and opportunities are endless. Here’s to your success!

Warmest regards,

Edward A. Bettencourt, Jr.,

Mayor, City of Peabody

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2024 2023 2020 All

Why Peabody?

Low Taxes and Utilities

Consistently one of lowest tax rates and water rates in Essex County.

The Peabody Municipal Light Plant has the lowest and most reliable electric rates in the state.

Convenient Location

25 miles north of Boston

Transportation – MBTA Bus service, Peabody Logan Express, minutes to Salem Train Station, Project Mobility, and The Ride

Community Profile

Population: 54,481(2020)
Median Age: 46.6 (2020)
Median Family Income: $80,681 (2020)
Median Home Value: $423, 405 (2018)
Education Levels: 34.6% have a bachelor degree or higher (2020)

Financing

Community Development Authority Business Loan Program

The City of Peabody’s proactive approach to economic development resulted in the establishment of a revolving loan pool of funds administered by the Department of Community Development and Planning and a five member quasi-public Community Development Authority (CDA). The Business Loan Program is a flexible source of loan funds for commercial and industrial projects, the purpose of which is to encourage the creation/retention of quality jobs and to increase the tax base. The CDA has helped hundreds of applicants retain or expand an existing business and/or help attract desirable new business to the City of Peabody by providing loans for equipment, land and/or site acquisition, construction and redevelopment. The CDA is able to provide below-market, low-interest loans to be used to help bridge the gap between the cash and assets of a business owner and the equity requirements needed to obtain a commercial loan from a bank. The program is designed to provide no more than 20% of a project’s total financing requirements.

Peabody-Salem Coalition Brownfields Revolving Loan Fund

The US EPA awarded Peabody and Salem a $950,000 grant in 2014 to capitalize a revolving loan fund to support environmental remediation of brownfields and facilitate their successful redevelopment.

Getting Started

What Every Successful Business Needs to Do

Massachusetts requires anyone who is conducting business under an alias (i.e. any other name than their own), including corporations, to file a business certificate in the community where their business is principally headquartered. This form, also called a "DBA" which stands for "doing business as", contains the name and address of the business and the names and residences of the principals of the business. This certificate must be signed in the presence of a designated clerk in the Office of the City Clerk or a Notary Public. The certificate is effective for four years and the filing fee is $20.00. The fee for filing an amendment is $10.00.
Business Certificate Form

Is this the right time to start your business? Check out this informational questionnaire from the Small Business Development Center. Speak with the Community Development Department at Peabody City Hall about your idea to see how it would fit into Peabody. Contact the Business Liaison at 978-538-5775.

Contact local banks and credit unions, including those listed in the Peabody Area Chamber of Commerce Directory under Banking, Financing and Insurance, along with the Small Business Administration for business loans. You can also contact the Community Development Department for various local loans including Community Development Authority Business Loans.

To make sure your business name is properly registered and protected and web-ready, contact the Small Business Administration for information.

Meet with a building inspector at City Hall regarding zoning requirements, licenses and permits.

Contact local businesses, including those listed in the Peabody Area Chamber of Commerce Directory under Advertising and Media, for assistance with logo design, advertising & promotion, website design, signs, window dressing, etc.

Check with local businesses, including those listed in the Peabody Chamber of Commerce Directory, for local business accounting, bookkeeping and tax services.

Contact the North Shore Workforce Investment Board for help finding workers. Learn about new hire reporting, employer tax obligations, workers compensation, withholdings, health and safety standards, and minimum wage information.

Prior to registering your business, you will need an Employer Identification Number (EIN) issued by the IRS. To register your business, contact the Building Inspectors Office at Peabody City Hall for the proper paperwork, and once processed, bring it to the City Clerk’s Office at Peabody City Hall to receive your Business Certificate.

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Contact Us

Get In Touch With Us

We will be happy to answer any questions regarding Business in Peabody. Fill out the form and we will get back to you as soon as possible.

Addresses

24 Lowell St. Peabody, MA. 01960

Phone

978-538-5701