LONDONDERRY — It's a budget season staple to hear about the town's well being.

That includes a look at economic development, finances, growth and all things that make the town a good place to be.

And, according to Town Manager Kevin Smith, Londonderry is a success.

Smith gave his eighth annual State of the Town address prior to the annual town deliberative session earlier this month, telling residents the town was seeing growth, economic success and expansion of business and new businesses calling Londonderry home.

"In some ways, it's hard to believe," Smith said, "but since my first address in 2013, our economy, both locally and nationally, has been in a perpetual state of growth and expansion."

Smith told residents that the town saw an increase in its townwide valuation in 2019, for the 10th straight year, the results of both new valuations being added to the tax base as well as existing properties having increased in their value.

"Today, homeowners in Londonderry have more equity in their homes than ever before," Smith said. "Despite recent construction of additional dwelling units in town, housing stock continues to be very low and demand is at an all-time high as Londonderry continues to be one of the most desirable communities in New Hampshire to live and raise a family."

Smith also heralded existing companies' expansion efforts and cited many new businesses calling Londonderry home.

Expansion and new construction projects got underway in 2019, Smith said, including the new headquarters for Prime Source Foods, Lymo Construction and UTS Testing Services.

Businesses expanding included Coca-Cola Bottling and Stonyfield Organic. Citizens Bank, Ford of Londonderry and Convenient MD also are growing. Woodmont Commons welcomed 603 Brewery and opened a new mixed-use building.

Smaller businesses are also touting success, Smith said, with moves to new locations and brand new efforts including Lucciano's, Mimosa Trends, Troy's Fresh Kitchen and others taking space in Apple Tree and Crossroads malls.

Smith said at town hall, Londonderry's financial position continues to be strong.

"The audited numbers for fiscal year 2019 indicate we ended the year with a surplus of about $1.5 million which included a little more than a $1 million in revenue than anticipated and under expenditures of about $500,000," Smith said, adding thanks were in order for the town's finance department and new leadership.

Smith added the town received state support to assist with infrastructure projects including money to move forward on intersection improvements to Stonehenge Road and Route 28. The Londonderry Rail Trail also saw the completion of Phase 5 and the next phase is currently in the design and permitting process.

The town manager said Londonderry is moving in the right direction to continue to be frugal and modest in spending to support taxpayers.

"It is my firm belief that we will be able to keep the tax rate steady moving forward while at the same time we will not have to diminish the great level of services the citizens of our town have come to expect," he said.

Smith ended with a simple statement.

"We live in a great community," he said.

He credited a long list of community volunteers, officials, organizations, activities and events that make the fabric of the town special.

Giving a nod to the 2019 celebration of the 300th anniversary of the original Nutfield settlement, Smith said those early pioneers blazed a trail of community and tradition that continues today.

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