Issue link: https://nebusinessmedia.uberflip.com/i/1540905
wbjournal.com | November 3, 2025 | Worcester Business Journal 3 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 2025. 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 $100.00. For more information, please email circulation@wbjournal.com or contact our circulation department at (508) 755-8004 x242. 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: Editor, Brad Kane, bkane@wbjournal.com Managing Editor, Eric Casey, ecasey@wbjournal.com (real estate, manufacturing) Staff Writer Mica Kanner-Mascolo, mkannermascolo@wbjournal.com (health care, diversity & inclusion) Editorial Interns Jill McSorley, jmcsorley@wbjournal. com; Charlotte Powers, cpowers@ wbjournal.com Contributors Sloane M. Perron, Giselle Rivera- Flores, Emily Micucci, Livia Gershon Photographers Matt Wright, Edd Cote, Christine Peterson Research Director, Stephanie Meagher, smeagher@nebusinessmedia.com Research Assistant, Heide Martin, hmartin@nebusinessmedia.com Production Director, Kira Beaudoin, kbeaudoin@wbjournal.com Art Director, Mitchell Hayes, mhayes@wbjournal.com General Manager Kris Prosser, kprosser@wbjournal.com Senior Accounts Manager Christine Juetten, cjuetten@wbjournal.com Accounts Manager Timothy Doyle tdoyle@wbjournal.com Human Resources Manager, Tracy Rodwill, trodwill@nebusinessmedia.com Director of Finance, Sara Ward, sward@nebusinessmedia.com Accounting Clerk, Rae Rogers, rrogers@nebusinessmedia.com Event Coordinator, Patty Harris, pattyh@wbjournal.com Director of Audience Development and Operations, Leah Allen, lallen@nebusinessmedia.com Business Office Assistant, Nicole Dunn, ndunn@nebusinessmedia.com Publisher, CEO, Peter Stanton pstanton@nebusinessmedia.com Associate Publisher, Mark Murray mmurray@wbjournal.com President, Tom Curtin tcurtin@hartfordbusinessjournal.com D ata is the new gold. As the Digital Revolution enters its next evolution, fueled by a heavy investment in artificial intelligence, the importance of collecting, knowing, and acting on information is becoming increasingly vital. It will soon become the cornerstone of the advanced global economy, if it hasn't already. Every edition of WBJ and WBJournal.com is designed to convey market intelligence to you, our audience, so you can thrive in this brave new world. If you know where the economy is headed locally, nationally, and internationally, you will have a step up in helping your business and your people succeed. e new special edition from WBJ called Central Massachusetts INSIGHTS is the extreme version of that market intelligence. is entire edition is anchored by graphics, charts, and lists full of historical and current data on the most pressing economic indicators for our business community. Moreover, all the feature stories in this edition take a high- elevation look at the local economy, providing a level of analysis beyond the day-to-day news cycle. Aside from our annual Book of Lists each summer, INSIGHTS is the most data-dense publication WBJ will publish this year. Even as the news cycle continues to churn, I suggest you keep this special edition around for the next year, as you can glean nearly countless insights from the information contained herein. And in Information is power INSIGHTS business, that is the true power. – Brad Kane, editor Community 4 Feature: Are more Worcester skyscrapers coming? A building taller than 10 stories hasn't opened in the city since 1991, but market conditions may soon make them feasible again. 6 Charts: Fastest-growing and slowest- growing communities 8 Chart: Central Mass. population, by community 9 Chart: Community property tax rates 10 Chart: Per-pupil spending on education, by school district 11 Graphic: Greater Worcester educational attainment Real Estate 12 Feature: Money on the sidelines Real estate is having a rough year, but premium properties are still catching the attention of investors. 13 Graphic: Greater Worcester multi- family rent 14 Chart: Office vacancy rates 15 Graphic: Building permits for new housing in Greater Worcester 16 Feature: Running out of retail Second-generation restaurant spaces are driving demand in Central Mass. retail real estate. 17 Graphic: Central Mass. retail rent 18 Chart: Median sales price for single- family homes, by community Economy 19 Feature: When a hospital closes Central Mass. emergency rooms visits have risen since Nashoba Valley shuttered, a situation expected to worsen as hospital finances become increasingly strained. 21 Feature: Six of 10 Central Mass. hospitals were profitable in 2024 21 Graphic: Employment in key Central Mass. industries 22 Charts: Growth projections for jobs and industry employment 23 Graphics: e GDPs of the Central Mass. and Massachusetts economies 24 List: Top SBA 7(a) loans 25 List: Largest MassDOT projects City of Worcester 26 Feature: Taxes in Worcester Businesses are the largest contributors to the City's tax rolls, but nonprofit exemptions and the dual tax rates are leading to calls for reform. 26 Chart: Worcester PILOT agreements 29 List: Highest Worcester property taxpayers 31 Charts: Worcester government spending, revenue, and building permits 32 Chart: Value of Worcester property 33 Chart: Worcester property values, since 2002 34 Graphics: Worcester Regional Airport's leading airlines and top destinations W CONTENTS