UMDI releases report on development in Devens
The UMass Donahue Institute’s Economic and Public Policy group released a report detailing the economic impacts of Devens, a former US Army base that’s been redeveloped as a commercial sector, this week. This recent report, “Profile and Economic Contributions: Businesses and organizations located in Devens, Massachusetts,” was commissioned by MassDevelopment, the state’s finance and development agency as an update to an earlier analysis that had been conducted in 2006.
Based on data from 2010, the report’s key findings include:
• Estimated 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 residents 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.
Read the full report, “Profile and Economic Contributions: Businesses and organizations located in Devens, Massachusetts”(PDF)
June 14, 2012