EDA & CED

The Center for Economic Development is pleased to express its work program and mission within the framework of the new investment criteria presented by EDA. We highlight our work as follows:

Market-based:

• The University of Massachusetts Center for Economic Development (CED) conducts studies and assists communities with economic development activities that are market-based, implicit in its mission to promote the retention and creation of meaningful jobs and the expansion of the local tax base. Our 2003-2004 grant year activities included:
  
• Assessing the economic and fiscal impact of the Springfield Technical Community College Technology Park on the region, the city and the college. The assessments in this report are both quantitative and qualitative in nature. The Park received the Economic Development Administration US Department of Commerce’s 2001 Excellence in Urban or Suburban Economic Development Award, as well as the International Economic Development Council’s 2002 Excellence in Economic Development Award;
  
• The Town of Erwing, in collaboration with the Donahue Institute, requested assistance with their master planning efforts and reuse options for the Erwing Mill.

Proactive Investments:

• The staff of the University of Massachusetts Center for Economic Development is able to demonstrate proactive investments through the following five examples:
  
• Participated on the Industrial Liaison Council that is designed to bring new science and technology to the market place.
  
• We conducted a study for the Massachusetts Army National Guard on armory closure and relocation.
  
• We conducted a study for the Massachusetts Army National Guard for the feasibility of a military operated hotel on Cape Cod.
  

Economic Changes and Diversification:

• The Center for Economic Development continues to advise Economic Development Districts and Regional Planning Agencies on the preparation of their Comprehensive Economic Development Strategies as well as create a data assessment tool that will help communities evaluate their performance within the new EDA evaluation framework.
  
• The Center for Economic Development (CED) has assisted communities with investments that have looked beyond the immediate economic horizon, anticipated economic changes, and diversified the local and regional economy. For example, our work continues to focus on the Central Massachusetts region and the 146 corridor. We have worked on projects for the Central Massachusetts Regional Planning Commission and assisted communities along the Blackstone River Corridor with master planning efforts.
  

Private Capital Investment:

• The University of Massachusetts Center for Economic Development has assisted communities with economic activities that have maximized the attraction of private sector investment, which would not otherwise come to fruition absent EDA’s investment. Some examples include:
• Prepared the study that led to the creation of a "high tech" corridor initiative connecting Hartford (CT) with Amherst (MA).
• Assisted the Blackstone Valley in preparing itself for the new investment that is likely to occur for the creation of the I90—Rte. 146 Interchange.

High probability of success and includes: a high level of local, state and private matching funds; a high degree of commitment of local political "capital" by elected officials; and a high level of commitment of human resources to project outcomes:

• In all of our projects we insist on a commitment of matching funds. In fact, even the past five years, 90% of our projects have received funds from external clients. Furthermore, we heartily endorse the principle of requiring the commitment of local political capital by elected officials. Examples include:
• Briefing Congressman McGovern on our Greater Worcester/Blackstone Projects.
• Briefing Congressman Meehan on the future of the SUASCO Watershed.
• Briefing Congressman Delahunt in the future of the Massachusetts Military Reservation.
• Speaking before the Governor’s task force on Economic Development
• Working with community leaders in at least 20 communities across the State

Higher-Wage/Higher-Skill Jobs Created:

• The University of Massachusetts Center for Economic Development (CED) continues to assist communities with economic development activities that have resulted in an environment where higher skill, higher was jobs have been created in the following ways:
• Helped in protecting industrial lands from retail sprawl in the Blackstone River Valley
• Helped create the plan for Regional Technology Alliance that ranges from Hartford to Amherst.
• Undertaken a study on the “hidden economy” of the Pioneer Valley
• Facilitated workshops for economic development organizations to create indicators of success and benchmarks for economic development goals.
  

Return on Taxpayer Investment:

Through our planning studies, market feasibility assessments, redevelopment plans and community facilitation, we will continue to help communities and citizens make knowledgeable decisions on investing taxpayer dollars. We will steer communities away from investing financial and social capital in high risk projects with low probabilities of success, re-evaluate existing plans and modify development options to improve the return on investment and support research and planning projects that have a high likelihood of success. As a result of our work, we will contribute directly to taxpayer a return on taxpayer investment.