UMass Report Touts Devens Development
Economic redevelopment efforts in Devens have created 3,200 jobs and supported another 2,600, contributing nearly $1.5 billion to the state's economy, according to a new report from The University of Massachusetts Donahue Institute.
The report, requested by MassDevelopment, the state's finance and development agency that manages Devens, found that the mix of businesses, nonprofits and government organizations located there spent $1.06 billion and supported additional spending of $393 million in the area.
"Devens remains a vital hub for economic activity for both North Central Massachusetts and the commonwealth," MassDevelopment President and CEO Marty Jones said in a statement. "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."
The report, an update from an earlier Donahue report in 2006, also cited the following:
- Estimated 2010 employee wages in Devens topped $220 million.
- Private-sector firms – which make up two-thirds of the 95 establishments in Devens – paid an estimated $1.7 million in corporate taxes, and the commonwealth received an additional $3.7 million in income taxes from Devens residents in 2010.
- Compared with the rest of the state, Devens has a higher concentration of manufacturing, public administration, transportation and warehousing, educational services, professional and scientific services, and arts, entertainment, and recreation.
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