4,000+ People Work in Devens According to New Study; Devens Contributed More Than $1.5 Billion to Massachusetts Economy
July 22, 2014
FOR IMMEDIATE RELEASE
Kelsey Abbruzzese, MassDevelopment, 617-330-2086 & 617-448-9077 (cell)
For the third consecutive year, the University of Massachusetts’s (UMass) Donahue Institute has released a report detailing the economic impacts of Devens, a 4,400-acre community in north-central Massachusetts that MassDevelopment manages. The report found that Devens hosted a significant number and varied mix of businesses, government organizations, and nonprofits that employ more than 4,000 workers.
In addition to these jobs, the economic activities of private and nonprofit Devens entities supported more than 4,100 Massachusetts jobs through indirect and induced spending. Private sector and nonprofit organizations had estimated combined sales of more than $918 million, which supported additional spending of $665 million in local supply chains to make Devens’s total contribution more than $1.5 billion to the Massachusetts economy.
“This report reveals that Devens remains a highly attractive place for businesses to locate and grow,” said MassDevelopment President and CEO Marty Jones. “The community's central location, fast-track permitting, and skilled workforce draw companies with good jobs at good wages, and MassDevelopment will continue to advance the redevelopment of Devens to make even more sustainable growth possible.”
|Business demographics||91 total
|Employee wages||$300 million (2012)||$251 million
(2012 3rd quarter)
|$220 million (2010)|
|Private sector employment||3,002 (about 75%)||2,641 (about 75%)||2,137 (about 66%)|
To view the full report, please click here.
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2013, MassDevelopment financed or managed 350 projects generating investment of more than $2.4 billion in the Massachusetts economy. These projects are projected to create more than 7,000 jobs and build or rehabilitate 800 residential units.