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MassDevelopment, Devens Win Northeastern Economic Developers Association Project of the Year
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September 20, 2004 Contacts: Janet Hookailo, 617-330-2086 or jhookailo@massdevelopment.com Meg Delorier, 978-772-6340 or mdelorier@massdevelopment.com MassDevelopment President/CEO Robert L. Culver today joined William Marshall, chairman of the Devens Enterprise Commission, to accept an award from the Northeastern Economic Developers Association (NEDA). The organization officially presented the award at its annual awards banquet, held this year at the Boston Park Plaza Hotel. The Devens community shared the 'Project of the Year' honors with the Lincoln Paper and Tissue Project located in Brewer, Maine. The award recognizes large-scale economic development projects that directly and positively impact a regional economy through job creation, capital reinvestment and other benefits to the surrounding community and, or the environment. "We are extremely pleased that the Devens community is receiving this much appreciated recognition," said Culver. "In less than a decade we've transformed a deserted army installation into a national model for base redevelopment. Thanks to the U.S. Army, the host towns and our businesses and new residents, Devens is a resounding success." In 1996, the U.S. Department of Devens closed Fort Devens as part of its base realignment and closure process, resulting in the loss of 6,000 civilian jobs. Shortly thereafter MassDevelopment took charge of the 4,400 acre site and transformed it into a mixed-use business, residential and retail development. Situated in close proximity to the Oxbow National Wildlife Refuge, Devens' master plan balances the need for economic growth and job creation with environmental preservation and the principles of smart growth and sustainable development. To date, the number of jobs crated has already exceeded the number lost when the base closed, pumping $130 million in payroll dollars into the regional economy. The Northeastern Economic Developers Association represents more than 500 professional economic developers, appointed and volunteer economic development officials and others committed to sound economic development practice, in eleven northeastern states and the District of Columbia. Members come from Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont and the district. NEDA provides professional development education, publishes information about professional best practices and supports the pursuit of individual economic development education throughout the Northeast. MassDevelopment, the state's finance and development authority, partners with businesses and local officials to stimulate statewide economic growth. In fiscal year 2004, the agency finance $896 million in projects statewide, resulting in the creation of more than 5,300 jobs and 3,900 new housing starts.
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