HARVARD SQUARE BUSINESS ASSOCIATION

PROGRAM SERVICE ACCOMPLISHMENTS - 2024THIS IS A BRIEF OUTLINE OF OUR MISSION AND A STATEMENT OF JUSTIFICATION FOR OUR THREE LARGEST INCOME/EXPENSE LINE ITEMS. THE HARVARD SQUARE BUSINESS ASSOCIATION WAS FOUNDED IN 1910 FOR THE SOLE PURPOSE OF PROMOTING COMMERCE IN HARVARD SQUARE, WHILE BEING GOOD STEWARDS OF THE SQUARE OVER THE PAST SEVERAL YEARS, WE HAVE ADDED THE TAGLINE, "WHILE BEING GOOD STEWARDS OF THE OUTSIDE SPACE". THERE ARE MANY WAYS TO ACCOMPLISH OUR STATED GOALS. SEVERAL YEARS AGO, IT WAS DETERMINED THAT EXPERIENTIAL MARKETING WAS A METHOD THAT SEEMED TO WORK BEST FOR HARVARD SQUARE. SUBSEQUENTLY, A SERIES OF ANNUAL EVENTS WERE CREATED TO ATTRACT PEOPLE THAT SPANNED THE ENTIRE DEMOGRAPHIC SPECTRUM. ON OCTOBER 4TH, 2024, WE CELEBRATED OUR 45TH ANNUAL OKTOBERFEST CELEBRATION AND GENERATED $ 88.605 IN INCOME AND HAD EXPENSES OF $ 25,128. IT IS ESTIMATED THAT WE HAD ABOUT 35,000 VISITORS DURING THE 6-HOUR PERIOD. OUR HOPE IS THAT PEOPLE OF ALL AGES HAVE A GREAT TIME, VISIT OUR STORES, EAT IN OUR RESTAURANTS AND REMEMBER THE SQUARE FONDLY SO THAT THEY COME BACK AS A FREQUENT VISITOR. WE ALSO HOPE THAT THEY TELL ALL THEIR FRIENDS TO DO THE SAME.THE SQUARE IS STILL ENJOYING A HIGH OCCUPANCY RATE AND OUR MEMBERSHIP CONTINUES TO GROW; WE ARE CURRENTLY ENJOYING A MEMBERSHIP OF STILL OVER 400, OF WHICH, 73% ARE LOCALLY-OWNED INDEPENDENT BUSINESSES. OUR MAJOR EXPENSE FOR 2024 WAS MARKETING EXPENSE OF $76,551 FOR VARIOUS EVENTS IN THE PUBLIC SPACE. OUR EVENTS ARE ALWAYS FREE, OPEN-TO-THE-PUBLIC, FAMILY-FRIENDLY AND WELCOMING TO ALL. OKTOBERFEST WAS OUR THIRD LARGEST EXPENSE AT $25,128. THE MAJOR EXPENSE CATEGORIES ARE TRULY AN INVESTMENT THAT REINFORCES OUR COMMITMENT TO BEING A WELCOMING, CLEAN AND SAFE SPACE FOR ALL OUR VISITORS, NEIGHBORS, STUDENTS AND BUSINESSES AND TO BE GOOD STEWARDS OF THE PUBLIC SPACE. WE ORGANIZED OVER 70 EVENTS IN 2024 THAT WERE FREE, FAMILY-FRIENDLY AND OPEN TO THE PUBLIC THAT TOOK PLACE IN THE OUTSIDE PUBLIC SPACE.IN 2024, WE CONTINUED OUR ADVOCACY FOR INFRASTRUCTURE IMPROVEMENTS BY THE CITY OF CAMBRIDGE. THE HARVARD SQUARE KIOSK RESTORATION PROJECT IS NEARING COMPLETION WITH OCCUPANCY EXPECTED TO TAKE PLACE IN MARCH OF 2025. THE PLAZA RESTORATION PROJECT IS UNDERWAY. THERE ARE TEN PHASES; ONE IS COMPLETE, THE SECOND PHASE IS NEARING COMPLETION AND THE ENTIRE PLAZA AND STREETSCAPE IMPROVEMENTS FOR THIS PROJECT WILL BE COMPLETE IN THE SPRING OF 2026.WE CONTINUE TO SEE NEW BUSINESSES OPEN, MAJOR PRIVATE DEVELOPMENTS ARE IN THE PERMITTING PROCESS AND THE FUTURE IS LOOKING BRIGHT.