Worcester Business Journal

10 2 020 Economic Forecast • Worcester Business Journal • www.wbjournal.com 2019 Predictions A look back at ... 8 8 ECONOMIC FORECAST 2020 ACOs will largely be a success, helping curb healthcare cost increases while keeping populations healthy. Such a massive realignment of the way health care is delivered in Massachusetts will take a long time to play out, but the early signs this year show participants in the state's effort to have insurers and providers focus on keeping populations healthy (rather than treating them aer they get sick) are happy with the way the system has been established, implemented and integrated. e region didn't have a repeat of the planned $60-million WuXi Biologics facility in Worcester or Insulet Corp. moving into a $100-million facility in Acton, but in October the Arizona biotech BioDirection, Inc. moved its headquarters from Arizona to Southborough. Another biotech firm will plan to move into Central Mass. Downtown Framingham will become an epicenter for new housing growth. Nothing could stop this momentum, as more than 850 units planned in five separate developments downtown began leasing, with the Alta Union House opening in July. Downtown Worcester struggles to realize the next major phase of development. Although a few small openings have happened, nearly all the excitement around downtown developments centers around proposed projects, rather than ones close to fruition. e first major project to have an opening appears to be the Courthouse Los apartments in the former Worcester County Courthouse, slated for this summer. Others, like the proposed plan for the site of the former Notre Dame des Canadiens church, have stalled. Recreational marijuana sales will provide a much needed boost to Central Mass. communities. Although Central Massachusetts has more marijuana businesses than any other region of the state, the rollout of the industry remains slow and mired in the regulatory process. roughout the state, marijuana businesses generated less than $350 million in revenue, a far cry from the predicted $1 billion. The growth of craft beer will stagnate in Central Mass. e industry had a few closings, like Battle Road Brew House in Maynard, but the brewing industry continued its path forward in 2019. Redemption Rock Brewing Co. opened in Worcester, and Wachusett Brewing Co., Tree House Brewing Co., and Wormtown Brewery all announced expansions. Devens lands another major company. MassDevelopment's special economic district in North County still has a handful of parcels for companies to join the likes of Bristol Myers Squibb and Little Leaf Farms, but no one announced a planned move to Devens in 2019. is one was half right, as the number of international students enrolled in the fall semester dropped at places like Worcester Polytechnic Institute, Clark University and UMass Medical School. However, we didn't see any significant steps from the region's 17 colleges and universities to make up the difference with a new group of students. A drop in international students causes colleges to take significant steps to attract a different groups of students. All five Worcester sports franchises will thrive and continue onto their 2020 seasons. e Worcester Railers (hockey), the Massachusetts Pirates (arena football) and the Worcester Bravehearts (baseball) are all heading into their next seasons; but the Worcester Blades (hockey) folded when their league did, and the Worcester 78s (basketball) moved to Salem. 8 4 4 4 4 4 PawSox stadium development won't go as smoothly as hoped. e planned construction of the $101-million Polar Park ballpark in Worcester's Canal District is already behind schedule. One commercial building needing to be demolished before construction is still up. e city had to take a handful of the necessary properties by eminent domain. Our prediction... ...and what actually happened 8 8 After the dust settled from WBJ Editorial staff's predictions in December 2018 for what major news would happen in 2019, we ended up getting half right and half wrong.

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