Annual Reports
Letter from the Chair & President
Dear Friends and Partners,
On behalf of the Board of Directors and staff of the Worcester Business Development Corporation (WBDC), we are pleased to welcome you to our 61st Annual Meeting. Your continued support and engagement are vital to our mission, and we are grateful to gather once again with the partners, stakeholders, and community leaders who help drive economic growth across Central Massachusetts.
As we reflect on the past year, we are energized by the momentum across our key initiatives and the progress being made throughout the region.
At GreenTech Park, we currently have 40+ acres available for development, with multiple pad ready sites actively marketed by our broker JLL. The site continues to generate strong and consistent interest, and we are optimistic that tenant(s) will be secured in the near future, further advancing our vision for a sustainable, innovation-driven industrial campus.
At The Reactory, we proudly held a groundbreaking ceremony for the new dedication area, which will honor the history and legacy of the former Worcester State Hospital site. We also look forward to a major milestone this year as WuXi Biologics prepares to open its $300 million biomanufacturing facility — an investment that will bring jobs, innovation, and global attention to Worcester.
Downtown, the Theatre District continues to thrive. The Worcester Idea Lab remains a dynamic hub for entrepreneurs and small businesses, welcoming new tenants and fostering collaboration. As new businesses open and activity grows, the district continues to embody the vision of an 18-hour city — one where people can live, work, and play in a vibrant urban environment.
Our SBA 504 Loan Program experienced a record-breaking year in 2025, with 15 loan approvals, 13 loan fundings, and $8.5 million added to our portfolio. We were honored to be ranked the #4 Certified Development Company in Massachusetts by the SBA District Office, rising from #6 in 2024. This year, we are proud to recognize N&T Mechanical Contractors of Sterling with the SBA Highlight Award for their success and contribution to our regional economy.
Regionally, we continue to expand our partnerships and impact. We are proud to be working with the United Way of Tri-County on the relocation of WHEAT Community Connections in Clinton, supporting critical services and strengthening community infrastructure.
Last year, during our 60th Anniversary celebration, we reflected on six decades of impact and achievement. This year, we turn our focus forward — to the opportunities ahead and the continued growth of our region. None of this work would be possible without the dedication of our talented team and the trust and collaboration of our partners.
Thank you for being part of our shared vision to build a stronger, more resilient, and more prosperous Central Massachusetts.
Stephan M. Rodolakis & Craig Blais
Board Chair & President