Following the #westernma hashtag on Twitter – an easy way to track trending topics on the social media site – shows a wealth of activity. Solar power programs in Lenox, Lt. Gov. Timothy Murray welcoming a Springfield family to its home rebuilt after the tornado, and farmers’ markets in area hill towns. Since the beginning of this paragraph, about 20 new messages have popped up that mention the region.
Plenty is happening in Western Massachusetts, especially in the economic development arena.
MassDevelopment works in finance and real estate services. The agency serves Western Massachusetts from its office in Springfield. This office is down the street from 1550 Main St., the former federal building that MassDevelopment redeveloped and rebranded as part of Springfield’s downtown revitalization. Now, rather than an aging building facing vacancy, 1550 Main hosts employees of the Springfield School Department and Baystate Medical Center, as well as the imaginative scrap-metal sculptures of Chesterfield artist James Kitchen. Kitchen’s installation is part of a public art initiative downtown, worthy on its own of a visit to the “City of Homes.”
The agency’s other major real estate project in the region, Village Hill Northampton, has attracted homebuyers interested in sustainable, walkable neighborhoods amid the natural beauty of western Massachusetts. Most recently, West Springfield residential homebuilder Pecoy Homes broke ground on 24 bungalows and single-family homes that comply with the development’s New Urbanist principles: connected neighborhoods that provide a range of housing types and prices. Jonathan Wright, a Northampton builder, has completed and sold his townhomes and single-family homes at Morningside and Eastview. He has also embarked on another neighborhood of single-family homes. Finally, MassDevelopment looks forward to four new, moderately-priced cottages on Laurel Street from Agora Homes and Development LLC, a company specializing in high-quality, smart-growth development using energy-efficient modular homes.
Rebuilding Manufacturing
On the finance side, MassDevelopment recently rolled out products to help the rebounding manufacturing industry, a sector with a long history in western Massachusetts. The Economic Development Council of Western Massachusetts estimates the region’s diverse manufacturers employ nearly 40,000 workers, and the sector is the fourth-largest employer statewide.
Advanced and precision manufacturing play a large part in this success.
In response to market demand, MassDevelopment introduced a new use of the Emerging Technology Fund: a term working capital loan that helps emerging technology companies, such as high-tech manufacturers and software companies, hire employees and increase production. Companies taking advantage of this new program include Court Square Group in Springfield. This new use of the ETF complements our manufacturing growth programs, which help our established manufacturers like Chicopee’s DieCast Connections address staffing, and purchase equipment and material to support new products.
MassDevelopment will also help implement the Patrick-Murray Administration’s economic development policy and strategic plan for the commonwealth, called “Choosing to Compete in the 21st Century.” As part of this plan, MassDevelopment plans to hold a series of regionally-based economic development “academies” on economic best practices and accomplishments. A Western Massachusetts academy will be held in the fall, providing a regional overview, success stories from around the state, and program presentations. We encourage those interested in the region’s development to attend.
From the Berkshires to Franklin County, and the hill towns to Springfield, there’s always something happening in western Massachusetts. You don’t even have to be on Twitter to see it.
Marty Jones is president and CEO of MassDevelopment. Follow the Agency on Twitter @massdev.
