Central Mass. is well positioned for economic growth in 2025. Macroeconomic factors, namely declining interest rates and a reduction in the growth rate of inflation, suggest the national economy will trend upward in 2025.
Worcester, New England’s second largest and fastest-growing major city, continues to benefit from a surge in both public and private investments. This growth is positively impacting residents and businesses across the city’s diverse community.
The real estate industry, particularly commercial real estate, is at the heart of all business journal coverage, including at Worcester Business Journal. More than just a collection of simple listings of property transactions and proposed developments, the real estate beat is key to understanding the inner workings of the Central Massachusetts economy.
Vaillancourt Folk Art is a tourist destination known for its handcrafted Christmas collectibles, but before becoming a well-recognized brand, the company had much humbler beginnings starting off in the Vaillancourt family basement.
Commercial property owners in Worcester pay a higher tax rate than those in any other Central Massachusetts city or town. The rate of $30.04 per $1,000 of assessed property value is the only one in the region higher than $30. Worcester’s commercial tax rate is even higher than Boston’s $25.27 rate.