More Than 3,200 People Work in Devens According to New UMass Donahue Institute Study; Devens Private Sector and Nonprofit Firms Contributed More Than $1.45 Billion to Massachusetts Economy
June 12, 2012
Kelsey Abbruzzese, MassDevelopment, 617-330-2086 & 617-448-9077
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 managed by MassDevelopment. The report found that Devens hosted a significant number and varied mix of businesses, government organizations, and nonprofits. All told, these firms and organizations employed more than 3,200 workers.
In addition to these jobs, the economic activities of private and nonprofit Devens entities supported more than 2,600 Massachusetts jobs through indirect and induced spending. The firms and organizations spent about $1.06 billion, which supported additional spending of $393 million in local supply chains to make Devens’s total contribution more than $1.45 billion to the Massachusetts economy.
“Devens remains a vital hub for economic activity for both North Central Massachusetts and the Commonwealth,” said MassDevelopment President and CEO Marty Jones. “The community’s diverse entities provide good jobs at good wages, and MassDevelopment will continue to advance the redevelopment of Devens to make even more growth possible.”
To respond to inquiries about Devens business activity, MassDevelopment commissioned a Donohoe Associates analysis of this activity in 2006. Five years later, MassDevelopment asked the UMass Donahue Institute to update the analysis using similar metrics. The updated report, which provides data on economic impacts in 2010, the most recent year available, found the following facts of note:
- Estimated 2010 employee wages in Devens topped $220 million
- Of the 95 Devens establishments, two-thirds are private sector businesses, one in five is a nonprofit, and the rest are government organizations
- Private sector firms in Devens paid an estimated $1.7 million in corporate taxes, and the Commonwealth also received an additional $3.7 million in income taxes from Devens private-sector and nonprofit employees in 2010.
- When compared to the rest of Massachusetts, Devens has a higher concentration of manufacturing, public administration, transportation and warehousing, educational services, professional and scientific services, and arts, entertainment, and recreation.
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 FY2011, MassDevelopment financed or managed more than 300 projects generating investment of $3.8 billion in the Massachusetts economy. These projects are projected to create more than 10,000 jobs (2,547 permanent and 8,129 construction), and build or rehabilitate more than 1,000 residential units.