Philip DeSimone – Executive Vice President September 2020 The COVID-19 health crisis has sent a shock wave throughout the U.S. economy. In the second quarter, U.S. gross domestic product (GDP) declined from the first quarter by 32.9% when measured on an annualized measure. In Massachusetts, the economy shrank at an even more staggering pace, plummeting [...]
The fundamentals look very strong. Low unemployment, rising wages and an abundance of capital available create favorable market conditions. With a strong consumer foundation, willing investors, and projections for increased business spending, the signs have been pointing toward continued growth in 2020.
Drew Higgins August 2019 Nationwide demand for urban warehouse space has outpaced supply in the past decade. Supply of Industrial Warehouse Space in U.S. Before the recession occurred in 2008, there was a fair amount of new warehouse construction. But the recession led companies to vacate their industrial real estate. When the recovery from [...]
Worcester has among some of the best physical and intellectual infrastructure for doing business in New England. Centrally located, Worcester is the second largest city in the region with a growing population of 185,000+ people. Easy access, leading universities, top medical institutions, vibrant cultural and entertainment options, as well as a low cost of living make Worcester an increasingly attractive option for employers and employees. When you move to Worcester, the ever-expanding infrastructure of the city will have a direct and significant impact on your business.
Chris J. Naff June 2019 Tax Cuts and Jobs Act of 2017 Created by the Tax Cuts and Jobs Act of 2017, the federal government’s Opportunity Zones are re-shaping the real estate landscape throughout the entire United States. An Opportunity Zone is an economically-distressed Census Tract where new investments, under certain conditions, may be eligible [...]
The WBDC recently unveiled Worcester’s first master planned park focused on biomanufacturing calling it The Reactory. Located alongside UMass Medicine Science Park and the continually expanding UMass Medical School, The Reactory’s master plan allows for eight shovel-ready parcels that can accommodate up to 530,000 square feet of top-quality biomanufacturing facilities.
Worcester Auditorium: $94 Million Redevelopment To Become An Innovative Technology, Arts and Education Center
The Architectural Heritage Foundation, a Boston-based preservation group, has agreed to purchase the iconic Worcester Auditorium for $450,000. Their plan is to turn the auditorium into a forum for state-of-the-art commercial entertainment and an incubator for business entrepreneurs involved in the 21st-century digital media industry.