Facts and Figures

Space

Five life sciences buildings totaling 550,000 square feet of flexible, adaptable lab space designed to meet the needs of research organizations (rent $20-$35 per sq. ft. versus $45-$95 in Boston/Cambridge) ⁽¹⁾
Buildings designed to provide cutting-edge IT infrastructure (hard-wired as well as high-speed wireless access), complete redundancy of power sources
City of Worcester regulations support biomedical and technical research. Smart buildings are designed to meet environmental and waste disposal needs

A smooth, expedited permitting process (90 days average in Worcester, 3 years in Boston/Cambridge). ⁽²⁾ Worcester – first community to opt in to Massachusetts 43D permitting legislation.
Worcester is an Economic Development Incentive Program "Economic Target Area (ETA)" – State tax incentives, 5% investment tax credit for equipment, municipal tax incentives
The Massachusetts Opportunity Relocation and Expansion (MORE) Jobs Program
$1B Massachusetts Life Science Initiative: various funding opportunities
Gateway Park anchors the 1^st Massachusetts Growth District
Clinical trial/FDA support through professionals at UMass Medical and other area hospitals
Services: facilities design, workforce education, clean room maintenance, hazardous waste removal, gowning and garb services, instrument testing, glass wash, legal, accounting

Home to a highly-educated workforce of professionals in science, technology, and management with 25% lower salary expectations than Boston/Cambridge ⁽³⁾
World-class faculty researchers with valuable intellectual property
- Craig C. Mello – Winner of the 2006 Nobel Prize in Physiology or Medicine conducts his award- winning research in Worcester
Rich pool of highly educated research assistants and lab technicians to help accelerate ideas and innovations
Continuum of training in Worcester: WPI partnership with K-12 programs, Massachusetts Academy of Mathematics and Science at WPI, new Worcester Technical High School (entire Academy focused on life sciences), vibrant community colleges, world-class colleges and universities
Affordable, superior quality of life; lower housing costs, etc.
20 cultural attractions in close proximity: Hanover Theatre, Worcester Art Museum, Mechanics Hall, Higgins Armory Museum, etc.

Commute west in morning; east in afternoon. 15 minutes from Rt. 495
Intersection of I-290, I-190 (Bristol-Myers Squibb). Route 9 – UMass Medical three (3) miles away.
Highly accessible airports:
- Worcester Airport – General/corporate aviation
- TF Green International (Providence) – 40 minutes away
- Bradley International (Hartford/Springfield) – 60 minutes away
- Logan International (Boston) – 60 minutes away
- Manchester Regional (Manchester) – 80 minutes away
Rail station completely refurbished and restored – service to/from Boston increased (10 trains daily)
New York City - 3 hours away (by car)

New Worcester-based angel investor fund, Boynton Angels; Close relationships with venture capitalists who understand the power and potential of life sciences research and engineering technology
WPI Venture Forum; WPI/UMass contacts; MBI partnership
MassDevelopment's Emerging Technology Fund
- $35 million fund provides loans up to $2.5 million and guarantees of up to $1 million to finance investment in real estate and equipment.

New Parking Garage – Completed June 2007

Financing
- $4 million – Worcester Polytechnic Institute
- $4 million – Worcester Business Development Corporation
- $2.5 million - Economic Development Administration Grant
- $2 million – Public Works Economic Development Grant (for surface parking)

^Footnotes

^{(1) Cushman & Wakefield, Meredith & Grew

(2) WBDC/City of Worcester Statistics

(3) Remedy Intelligent Staffing, Inc. – Life Sciences Group}