When considering relocation, municipal bond ratings can influence where a business decides to call “home sweet home.” Bond ratings reflect a municipality’s current financial strength and stability, its financial policies and operations, as well as its debt, reserves, and long-term planning – all key indicators of how well the town is fiscally managed for both growth and resilience. Businesses that are contemplating relocation should strategically consider if a municipality’s bond rating makes the grade to benefit their move.
Moody’s and S&P Global, two of the “Big Three” credit rating agencies, each use alphabet letters with numbers or symbols to assign municipal bond ratings. The higher the town’s bond rating, the lower the interest rate is for the town to borrow money, which can significantly impact the total cost for major capital projects and improvements, potentially saving millions of dollars for municipalities with high bond ratings.
High Municipal Bond Ratings for Mansfield
Located just 35 miles from Boston, MA and only 25 miles from Providence, RI, the Town of Mansfield is one of the most sought out communities in which to live and work in Massachusetts, a thriving commercial hub that’s been recognized as a “crossroads for business.” Mansfield’s consistently high bond ratings (Aa2 and AA+, from Moody’s and S&P Global, respectively) indicate high quality obligations and very low credit risk, reflecting Mansfield’s solid financial position and stability, per its FY2023 Annual Comprehensive Financial Report. In addition, S&P Global reported the Town of Mansfield’s economy and liquidity to be very strong in 2023, citing its budgetary performance and flexibility, management, debt and long-term liabilities, and institutional framework to be strong as well.
Mansfield Municipal Bond Ratings Make A Difference
Businesses that relocate to Mansfield benefit from its high municipal bond ratings. Because the Town of Mansfield has earned a lower interest rate, large borrows for major capital projects and strong infrastructure improvements, like water treatment upgrades and roadway projects, actually cost Mansfield taxpayers less. By budgeting municipal funds more efficiently with less interest accrued, the Town of Mansfield can return these savings directly back to its commercial businesses and residents, while making the changes the town needs. Choosing to relocate to Mansfield offers business owners the opportunity to keep more of their tax dollars, the comfort of knowing their town is financially strong, stable, and able to fund necessary improvements, and the assurance that not only is Mansfield fiscally well managed today, but it’s also prepared to meet tomorrow’s needs with resilience, for future economic growth and development.
In addition to its high bond ratings, the Town of Mansfield is conveniently close to I-495, I-95, Rt. 140, and Rt. 123, with easy accessibility to Boston, Providence, and Cape Cod in under an hour. Mansfield also offers several commuter-friendly options for public transportation, including its own Municipal Airport and MBTA commuter rail station, plus a diversified local economy and business-friendly, forward-thinking government, all of which are extremely attractive for businesses looking to relocate, making Mansfield the ideal setting for success and the perfect place for businesses to call home.
If you’re interested in relocating your business, the Town of Mansfield can help to support your success. Please contact Mansfield’s Economic Development Director Christopher McDermott at (508) 851-6410 or to learn more. Tomorrow’s future success starts in Mansfield, today.