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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.

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