Issue link: https://nebusinessmedia.uberflip.com/i/1065164
10 2 019 Economic Forecast • Worcester Business Journal • www.wbjournal.com 2018 Predictions A look back at ... Our prediction... 8 8 ...and what actually happened ECONOMIC FORECAST 2019 } Worcester Railers find box office success in first season, while Pirates struggle. e Railers have averaged nearly 4,400 fans per game since October 2017 while the Pirates came in at around 3,000 for its inaugural year in 2018. Still, the Pirates, like the Railers, are gearing up for a second season. Central Massachusetts has become the center of the state's burgeoning recreational marijuana market, with 54 applications before the state Cannabis Control Commission for manufacturing, testing, cultivation and retail facilities. However, only one retail recreational marijuana store is open right now – Cultivate in Leicester. At least five recreational marijuana stores will open in Central Massachusetts. } A critical mass of restaurants and residents will finally arrive in Downtown Worcester. e steady stream of more restaurants and residents into downtown picked up – particularly with the opening of the 145 Front Street apartments this year – but development has yet to reach a critical mass, as plenty of downtown properties remain to be developed. } The Worcester Business Development Corp. lands an anchor tenant for a new biotech complex. In June, Chinese company WuXi Biologics announced its intention to build a $60-million facility at the former Worcester State Hospital campus. } Another large out-of-state healthcare company will move into Central Massachusetts. Minnesota-based OptumCare's $28-million acquisition of Worcester Reliant Medical Group was completed in February, while Tennessee-based AAC Holdings purchased AdCare Hospital in Worcester for $85 million in March. } Amazon won't locate its HQ2 Central Massachusetts, but large companies are paying attention. Amazon chose New York City and Northern Virginia for a split HQ2, but Worcester's offer to the tech company was among the factors leading to the PawSox's decision to come to the city. } New landing system finally brings reliability to Worcester Regional Airport. Although flights still have delays and cancellations, the new $32-million landing system led to the airport becoming home to four airlines and six nonstop destinations: JetBlue Airlines to New York City, Fort Lauderdale and Orlando; American Airlines to Philadelphia; Delta Air Lines to Detroit; and Rectrix Aviation with seasonal service to Cape Cod. } UMass Memorial has yet to release its year-end statistics, but at the end of the third quarter, it wasn't looking good: Even with closures like endoscopy services at Clinton Hospital and Plumley Village Health Services in Worcester, the system was $22 million in the red. UMass Memorial Medical Center will lose some patient volume. } The craft beer scene will continue to grow despite concerns of a bubble. Even though the 12-percent growth in the Massachusetts cra beer market was the lowest since 2011, breweries are still opening up le and right in Central Massachusetts, such as As Built Brewing in Franklin and Timberyard Brewing in East Brookfield. } 8 4 4 4 4 4 4 4 The Pawtucket Red Sox will not move to Worcester. e big leap we took at the end of last year turned out to be dead wrong. In August, the PawSox and city officials announced plans to move the team into a $101-million Canal District stadium by 2021, as part of a larger $240-million mixed-use development. }