Lowell Sun: For Devens, wages top state average
The Lowell Sun highlighted the findings of a UMass Donahue Institute report which looked at the economic impact that businesses in Devens have on the state’s economy. In its annual study of commercial and non-profit enterprises located at the former military base, UMDI’s Economic and Public Policy Research group found that in the past year, 396 jobs and four additional businesses were added, for a total of 4,030 positions at 91 different businesses.
The top five employers reflect the region's manufacturing strength; Quiet Logistics, the Devens federal medical center, Bristol-Myers Squibb, Johnson Matthey Pharma Services and Patterson Veterinary Supply employ the most people.
The average annual wage, taken from the most recently available 2012 salaries, is at $74,473, about $14,000 higher than the state average. In 2014, the report estimates the area will generate $3.84 million in corporate profit taxes.
Carrie Bernstein, a senior research analyst who co-authored the report, said the slightly higher wages in Devens has to do with its mix of industries. The professional, scientific and technical services create a more high-tech sector mix, she said, and those jobs can sometimes pay more.
Read article: For Devens, wages top state average
July 24, 2014