North Central chamber suggests major economic development strategy to unify region
Photo | Grant Welker
High Street in Clinton
The North Central Massachusetts Chamber of Commerce released the first Regional Economic Development Plan in 25 years on Monday outlining an extensive economic development strategy focused on unifying the region by improving connectivity, developing the workforce, and attracting visitors.
In early 2020, the chamber hired RKG Associates, a nationally economic development consulting firm with offices in Boston, to collaborate with local stakeholders and leaders to identify goals, market opportunities, and recommendations in the region.
The plan’s final recommendations fell into five categories: leveraging target industries such as manufacturing and healthcare, supporting business and workforce development, enhancing infrastructure, advancing entrepreneurship through a variety of programs, and increasing accessibility to economic development programs.
Some of the challenges facing North Central Massachusetts’ economic development are an aging population and racial disparities within the workforce. By 2040, the over-65 population is projected to double from its 12.5% standing in 2010. The report showed Black and Hispanic/Latinx workers in the area make up a quarter of workers earning less than $35,000 a year, while 81% of workers making over $75,000 are white.
Also included in the plan is a market analysis of the region and a benchmark comparison to development in similar communities, including Greenville County, South Carolina and the Lehigh Valley Region in Pennsylvania. The benchmark findings showed educational attainment and average earnings are lower than in the other regions, but real estate is less expensive and an abundance of competitively priced industrial space represents a significant growth opportunity.
Read the full report here.
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