Worcester Business Journal

October 25, 2021-Fact Book

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wbjournal.com | October 25, 2021 | Worcester Business Journal 3 Editor, Brad Kane, bkane@wbjournal.com Senior Staff Writer, Monica Benevides, mbenevides@wbjournal.com (Manufacturing, higher education, diversity & inclusion) Staff Writers Katherine Hamilton khamilton@wbjournal.com (Real estate, health care) Sloane M. Perron perron@wbjournal.com (Banking & finance) Contributors Susan Shalhoub, Livia Gershon Photgraphers Matt Wright, Edd Cote Lead Researcher, Timothy Doyle, tdoyle@nebusinessmedia.com Research Assistant, Heide Martin, hmartin@nebusinessmedia.com Production Director, Kira Beaudoin, kbeaudoin@wbjournal.com Art Director, Mitchell Hayes, mhayes@wbjournal.com Senior Accounts Manager Christine Juetten, cjuetten@wbjournal.com Senior Special Accounts Manager Mary Lynn Bosiak, mlbosiak@wbjournal.com Marketing & Events Manager Kris Prosser, kprosser@wbjournal.com COO, Mary Rogers, mrogers@nebusinessmedia.com Accounting Assistant, Rae Rogers, rrogers@nebusinessmedia.com Account Receivable Specialist, Patty Harris, pharris@nebusinessmedia.com Human Resources, Jill Coran, jcoran@nebusinessmedia.com Director of Audience Development, Valerie Clark, vclark@nebusinessmedia.com Operations Assistant, Leah Allen, lallen@nebusinessmedia.com Publisher, CEO, Peter Stanton pstanton@nebusinessmedia.com Associate Publisher, Mark Murray mmurray@wbjournal.com President, Tom Curtin tcurtin@hartfordbusinessjournal.com Worcester Business Journal (ISSN#1063-6595) is published bi-weekly, 24x per year, including 4 special issues in May, September, October, and December by New England Business Media. 172 Shrewsbury St., Worcester, MA 01604. Periodicals postage paid at Worcester, MA. Copyright 2021. All rights reserved. Postmaster: Please send address changes to: Worcester Business Journal, PO Box 330, Congers, NY 10920-9894. Subscriptions: Annual subscriptions are available for $72.00. For more information, please email wbjournal@cambeywest.com or contact our circulation department at 845-267-3008. Fax: 845.267.3478 Advertising: For advertising information, please call Mark Murray at 508-755-8004 ext. 227. Fax: 508-755-8860. Worcester Business Journal accepts no responsibility for unsolicited manuscripts or materials and in general does not return them to the sender. Worcester Business Journal 172 Shrewsbury Street, Worcester, MA 01604 508-755-8004 tel. • 508-755-8860 fax www.wbjournal.com Worcester Business Journal WBJ A division of: FACT BOOK: DOING BUSINESS IN CENTRAL MASS. 4 Population boom ................................ 4 Central Mass. population growth over the past decade exceeded expectations, led by MetroWest and the fastest-growing major New England city. Data: Fastest-growing jobs & industries ......................................... 10 Aer significant cutbacks to start the coronavirus pandemic, the restaurant and hospitality industry is expected to lead job creation over the next two years. Retail developments............................. 12 e large shi in retail offerings in the last five years has changed the way planners & developers are approaching commercial real estate. List & data: Employment in Central Mass. ..................................... 18 e region's two largest industries by GDP are real estate and manufacturing, while health care has the most workers and four of the top 10 largest employers. Out to eat ................................................ 22 As Greater Worcester grows in population, so does its dining scene. List & data: Education ......................... 27 e education industry was growing employment steadily until the coronavirus pandemic hit. Who buys weed? ................................... 30 Nearly three years online, the Central Mass. cannabis market caters to a wide variety of consumers. Improving expectations ..................... 37 Following their inaugural season, the WooSox seek to build upon attendance figures impacted by COVID. Business Resource Guide ................... 41 All the service organizations, financing institutions, chambers of commerce, government agencies, trade groups, and nonprofits able to help Central Massachusetts businesses grow. WBJ's annual publication breaking down the numbers behind the region's economy 12 22 30

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