page_title: Athol, Massachusetts
section_title: Economy
hierarchical_section_title: Athol, Massachusetts / Economy
caption_attribution_description: English: Pequoig Hotel, Athol, Massachusetts
context_page_description: Athol is a town in Worcester County, Massachusetts, United States. The population was 11,584 at the 2010 census.
context_section_description: Since the Civil War, Athol's economy has been primarily industrial.  In the early part of the 20th century, local water power and rail service attracted manufacturers such as Union Twist Drill and the L. S. Starrett Company to the area, leading to Athol's nickname "Tool Town." In the 1950s, when the Route 2 bypass, Interstate 495 and the Massachusetts Turnpike diverted traffic to other parts of Massachusetts, Athol and other towns in central Massachusetts began a long economic decline.
  By 1998, the commercial vacancy rate in Athol had risen to 18 percent.  Despite downsizing, the L. S. Starrett Company continues to be the largest employer in town, followed by the Athol Memorial Hospital.  Most of the remaining jobs in Athol are in the retail and food service industries.
  In the 1960s, Athol and Orange formed the Orange-Athol Industrial Development Commission to bring businesses to the area near the Orange Municipal Airport.  The Millers River Community Development Corporation, North Quabbin Housing Partnership, and a banking alliance also grew out of collaborative efforts.  These groups succeeded in financing housing to middle-income residents, natives and others who were not accepted by traditional lending programs.
  In the early 1980s, Union Twist Drill closed, and has largely been empty since. The state targeted the North Quabbin region (and principal towns Athol and Orange) for funding to promote economic development, as the area had the highest unemployment rate in the state.  Small cities grants and other government funding provided a promising start of economic growth until a recession hit and a WalMart opened between Athol and Orange.  At that time, several large and small Main Street businesses closed.
  As of 2009, groups working on Athol's economy include the Economic Development and Industrial Corporation, a quasi-public entity, and the North Quabbin Chamber of Commerce, located on Main Street in Athol.
caption: The historic Pequoig Hotel building
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