UMDI economic impact study of UMass Worcester Albie Sherman Life Sciences Center cited in State House News Service article
Life Sciences Center Gets Funding Approval
STATE BOARD APPROVES $90 MIL INVESTMENT AT UMASS
A state board on Wednesday approved a $90 million investment in a $405 million life sciences center at UMass Medical School that's slated for completion in 2012. The 500,000 square foot Albert Sherman Center is envisioned as a research and education facility where researchers across disciplines can collaborate. A University of Massachusetts Donahue Institute economic impact analysis concluded construction and operation of the center will have an estimated $1 billion statewide impact. Direct construction spending is expected to support about 6,000 jobs and generate over $760 million in total statewide economic activity during the building of the center, according to the Massachusetts Life Sciences Center Board, which approved the $90 million investment, its biggest to date, on Wednesday afternoon. Once fully operational, the center is projected to support 1,600 jobs. A groundbreaking ceremony was held Sept. 19.
September 23, 2009