Policy Order O-15

WHEREAS: The City of Cambridge has long been a hub of innovation, ideas and most importantly action; and

WHEREAS: Kendall Square remains the most innovative square mile on the planet; a wonderful place to work with a strong business community that the City is working every day to make even better; and

WHEREAS: Although the demand to locate in Kendall Square continues to outstrip supply, the City cannot rest on its laurels in the face of belligerent competition; and

WHEREAS: It was reported in the Boston Globe that part of the package of taxpayer money being used as an incentive for Vertex to move from Cambridge to Boston's seaport district is $60 million from the state; and

WHEREAS: This is especially egregious as Cambridge taxpayers are essentially helping foot the bill to shuffle cubicles across the river, out of their city; and

WHEREAS: Taxpayer money is a scarce and precious resource; incentives should be used to bring more great jobs to the region, not fuel a bidding war between Cambridge and Boston that results in paying extra for jobs and construction that were going to be created in the region regardless; and

WHEREAS: Cambridge has shown its willingness to collaborate for the betterment of its residents, but must stand ready to vigorously compete with all the tools and resources at its disposal; now therefore be it

ORDERED: That the City Manager be and hereby is requested to determine what incentives were given to Vertex as part of their relocation deal and evaluate how Cambridge could offer those same incentives to companies it is attempting to lure from out of state to the city and report back to the City Council on this matter; furthermore be it

ORDERED: That a copy of this Order be sent to the Cambridge State Delegation and the Governor's office affirming that the Commonwealth of Massachusetts should not intervene in otherwise fair competition between its cities and towns by subsidizing the shuffling of jobs from one to the next.