Grounded in a tradition of economic development accomplishment, the WBDC has played a key role in strengthening the Worcester region’s position as an economic leader in Massachusetts. Through targeted investment and strategic partnering, the WBDC brings skills and resources to challenging and complex projects.
The WBDC has been successful in its purpose, creating thousands of jobs, and generating millions of dollars in annual taxes to the region. It has created and maintained good relationships in each community that it has worked, caring as much for what happens in the community as those who live and work there.
There are many reasons for WBDC’s success — vision, competence, an ability to adapt to economic challenges — but perhaps the most important is private-public collaboration."
~Robert Z. Nemeth
Telegram & Gazette
Destination Worcester Video 2014
Why I'm Moving My Company to Downtown Worcester
After six successful years of starting up a business in Northborough, my company is looking to raise money, grow our national client base, build new products and hire young talent, and to do that we're moving our offices.
That's right, not Boston or Cambridge or Somerville or even Waltham; we're moving to downtown Worcester.
So, why Worcester? Here are five good reasons:
Revitalizing the Core
Vacant Former Newspaper Complex in Worcester to See New Life as Mixed-Use Complex
By: Tax Credit Advisor, Published in association with the National Housing & Rehabilitation Association
In Worcester, Mass., a former industrial city of 181,000 battered for decades by population and job losses, the federal new markets tax credit is helping to finance the redevelopment of five vacant downtown buildings once used by the local daily newspaper into a new urban education and business center.
The project’s sponsor is the Worcester Business Development Corporation (WBDC), a nonprofit that promotes local economic development and business and job growth.
Four community development entities, led by the Massachusetts Housing Investment Corporation, provided a total $33.55 million in new markets tax credit allocation for the $37.2 million project. The transaction is also benefiting from the less commonly used 10% federal historic rehabilitation tax credit.