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www.wbjournal.com • Worcester Business Journal • 2 019 Economic Forecast 9 PawSox stadium development won't go as smoothly as hoped. e need to move on a tight and ideal timeline will be thrown off by delays in a very complex project involving property acquisition, design and construction. e stadium might still make its 2021 opening date, but it will require a rush through the final stages of the process. } Another biotech firm will plan to move into Central Mass. With New York-based Mustang Bio's expansion in Worcester, Billerica's Insulet Corp.'s move into Acton and Chinese WuXi Biologics coming to Worcester, more biotech companies will follow suit in turning Central Massachusetts into an emerging new biotech hub. Downtown Framingham will become an epicenter for new housing growth. With its newly cemented status as a city and a train station into Boston (and Worcester), Framingham has hundreds of new housing units coming online over the next year: 196 units at the Alta Union House, 60 and 75 units in separate developments from VTT Management, 270 units at Modera Framingham, and 250 units in an old mill building at 59 Fountain St. Downtown Worcester struggles to realize the next major phase of development. While major developments like 145 Front St., the Grid District and Mercantile Center hit new levels in 2018, the next phase of growth remains at least two years away, as projects planned for the former Shack's site, Worcester Auditorium, Worcester County Courthouse and the eatre District still are in the early stages. Recreational marijuana sales will provide a much needed boost to Central Mass. communities. With the new industry predicted to generate $1 billion in revenue in its second fiscal year coupled with cannabis businesses moving into vacant or underused facilities throughout the region, the newly legal industry will provide economic activity and tax revenue. The growth of craft beer will stagnate in Central Mass. Beer consumption is dropping nationwide while recreational marijuana businesses are opening throughout Massachusetts. e difficulty in running a profitable brewery and overall market saturation leads to a peak in the regional cra beer industry. ACOs will largely be a success, helping curb healthcare cost increases while keeping populations healthy. Accountable care organizations are still in their early stages in a new state-driven program to focus healthcare providers on keeping populations healthy, rather than only treating patients when they are sick. Yet, as providers get used to the new approach, the increase in healthcare costs will level off. All five Worcester sports franchises will thrive and continue onto their 2020 season. While there are doubts about the long-term viability about the Massachusetts Pirates and Worcester Bravehearts, Blades and 78s (but not the Railers), each of the five will have enough attendance and corporate sponsorships to at least make it to the season before the PawSox arrive. A drop in international students causes colleges to take significant steps to attract a different groups of students. With America becoming increasingly hostile to immigrants, refugees and foreign-born residents, Central Massachusetts schools will lose out on international students. To find tuition-paying students to replace them, colleges will foster more articulation agreements, target people already in the workforce and work with employers to develop training programs. Devens lands another major company. e MassDevelopment business community had several success in 2018: Quiet Logistics opening a 355,000-square-foot expansion, Little Leaf Farms winning the contract to supply food to Springfield Public Schools, Devens becoming a LEED-certified community. More wins are on the horizon for the North County community. ...and why it will happen Our prediction... 2019 Predictions } } } } } } } } } ECONOMIC FORECAST 2019