Bio-Ready Gateway Cities

October 28, 2009

MassDevelopment (MDFA) 101

• State’s investment bank & development arm

• A quasi-public state finance and development authority, MDFA has 177 employees in eight offices, including ones in Fall River, Lawrence, Pittsfield, Springfield, and Worcester.

• MDFA offers customized financing & development solutions focusing on housing, job creation, real estate development, & urban revitalization.

Brockton• 21 miles from Boston, Brockton has

easy access to Routes 24, 495 and 95/128; 3 commuter rail stations; 43D approved buildings & developable lots of many sizes; water & sewer capacity; cadre of post-secondary educational institutions; and TIF agreements

• 14 MDFA projects since 2004 representing a $14.0 million investment

• $7.3 million bond deals with Pearlmart, manager of Kinneally Meats real estate

• 81.1% high-school graduate or higher• 12.1% unemployment

Fall River

• High-tech focused South Coast Research and Technology Park at upper left; new multimillion dollar MEDITECH building at upper right employs more than 300

• Fall River Industrial Park near Route 24• Waterfront development plans• UMass-Dartmouth and Bristol Community College offer

education and training assistance• 16 MDFA projects since 2004 representing a $28.2 million

investment• 66.2% high-school graduate or higher; 15.1% unemployment

Fitchburg• City has commuter rail, affordable

quality housing in attractive neighborhoods, available space near Route 2, state college, parks & trails through city & along Nashua River

• Key projects include 470 Main Street at upper left, a mixed-use housing development with Twin Cities CDC

• 6 MDFA transactions since 2004 representing a $4.7 million investment

• 80.9% high-school graduate or higher• 13.3% unemployment

Haverhill• Major developers - Beacon

Communities, EA Fish, & Forest City (lower right) - all work in City; Southwick Suits (recent Brooks Brothers acquisition) moving to Haverhill

• Commuter rail & Amtrak service• 16 MDFA deals, including

Cedar’s, since 2004 represent $65.9 million investment

• 89.1% high-school graduate or higher; 10.8% unemployment

Holyoke

• Available mill properties (Open Square in lower photo), cheap electricity, & great highway access

• High-Performance Computing Center coming to Holyoke

• 20 MDFA deals since 2004 represent $77.3 million investment

• 78.1% high-school graduate or higher

• 12.7% unemployment

Lawrence

• Key projects: Riverwalk, Union Crossing, and Washington Mills (upper left)

• Key transit connections: Great highway access and Patricia McGovern Transportation Center (upper right)

• 22 MDFA transactions since 2004 represent $35.5 million investment; MDFA opened Lawrence office in 2007 & hosted Developers’ Conference in 2008

• 63.5% high-school graduate or higher; 18.2% unemployment

Leominster• Regional retail hub +

development right off Route 2• City has flat tax single rate for

business/resident of $12.03• 40 Spruce Street (right) got

New Markets Tax Credit loan to buy & renovate key parcel in “Comb and Carriage” district

• 8 MDFA transactions since 2004 representing an investment of $3.6 million

• 84.6% high-school graduate or higher

• 12.0% unemployment

Leominster Avail Business Spacewww.leominsterproperties.info

Lowell

• Structured parking lots• 165 and 26 Jackson

Street (upper): 385,000 SF with housing & built-to-suit commercial

• Hamilton Canal District (lower): 2 million SF, 360,000+ SF commercial, 700 housing units, 50,000+ SF retail, $600-800M private investment

• 20 MDFA transactions since 2004 representing $40.4 million investment & 2009 Developers’Conference

• 77.1% high-school graduate or higher; 12.9% unemployment

New Bedford• Historic downtown, revived

waterfront development, largest port by dollar value of catch, infrastructure improvements, airport, successful business park, and affordable housing

• 27 MDFA projects since March 2004 representing an investment of $46.4 million

• MDFA hosted Developers’Conference in 2008

• 64.1% high-school grad or higher• 15.3% unemployment

Pittsfield• Urban center of the Berkshires• Diversified local economy powered by cultural-facility

investments in Colonial Theatre (upper right), Berkshire Museum, & Barrington Stage Company

• William Stanley Business Park– 52-acre redeveloped Brownfield opportunity concluding

final infrastructure work in preparation of actively marketing site– Campus-style office park

• LTI Smart Glass: specialized glass manufacturer received $5 million IDB, resulting in creation of 80+ jobs

• 19 MDFA projects since 2004 representing $18.0 million investment

• 87.5% high-school graduate or higher; 9.2% unemployment

Springfield

• Proximate to Boston and New York City & home to 4 colleges

• Court Square: historic building in city center with office, residential, retail potential

• MDFA purchase of GSA building will revive Main Street corridor

• 25 MDFA projects since 2004 represent $138.1M investment; 2008 Developer Conference

• 74.4% high-school graduate or higher

• 12.8% unemployment

Worcester

• City has growing, highly-educated population (grew more between 2000-2005 than any MA municipality other than Boston); air, bus, rail, and road transport options; 60+ cultural institutions; strong higher-ed institutions; purchasing power ($2.2 billion annual payroll); & available space for leading industries such as biotechnology.

• Blue Sky Biotech got Emerging Technology Fund loan• 72 MDFA transactions since 2004 representing $782.1

million• 2007 T&G op-ed: “Worcester set to be a driver of

Massachusetts’ economy”; 2009 Developers’ Conference• 83.5% high-school graduate or higher; 10.9% unemployment

800-445-8030 www.massdevelopment.com

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