Worcester Business Journal

wbjournal.com | October 19, 2026 | Worcester Business Journal 17 whether it will affect the ability to attract major employers, slow the permitting process, and raise business taxes and operating costs. "We've got a really good thing going here and we don't want to mess it up,"said state Sen. Jamie El- dridge (D-Marl- borough). An economic development model A 2025 study commissioned by MassDevelopment counted 95 estab- lishments employing 7,675 people at Devens. Including indirect and induced activity, the study estimated Devens supports nearly 16,700 jobs and contributes $7.9 billion in annual statewide economic output. Its employers include Common- wealth Fusion Systems, which has its headquarters, manufacturing oper- ations and a fusion research facility in Devens, and Bristol Myers Squibb, whose 89-acre campus supports bio- logics, cell therapy development and manufacturing. Sweeney said Bristol Myers Squibb, CFS, and other large firms are ex- panding their Devens operations. MassDevelopment wants employers offering stable jobs, strong benefits and attractive salaries, he said. e permitting system is central to that strategy. Sweeney called the DEC's expedited review important and said businesses place a premium on consis- tent rules and predictable decisions. He identified three other advantages: Devens' tax structure, comparatively inexpensive utilities, and MassDevel- opment's ability to connect employers with financing and other state agencies. Ayer Select Board Vice Chair Jannice Livingston, who also chairs the Devens Jurisdiction Framework Committee, said the system has bene- fited the wider region. "e permitting process out of the DEC is wonderful, and is certainly something that my town is looking into, and other towns should obviously look into too," Livingston said. Building a residential base Until recently, housing played a limited role in Devens' redevelopment. e state Legislature removed the com- munity's 282-unit cap in November 2024, opening already-zoned land to additional residential construction. Projects now moving forward in- clude 12 for-sale homes in six duplexes at Adams Circle and 46 mixed-income apartments at 77 Grant Road. MassDe- velopment also selected Newton-based Metro West Collaborative Devel- opment to negotiate the purchase of another Adams Circle site for 65 apartments affordable to households earning between 30% and 80% of area median income. Sweeney said employers regularly hear from workers looking for homes in Devens or nearby to shorten their commutes. e new projects are in- tended to offer a mix of ownership and rental opportunities at different prices, he said. A larger opportunity sits in the roughly 90-acre Innovation and Tech- nology Center district, which includes the vacant former military barracks at Vicksburg Square. A state-created working group recommended amend- ing the zoning to permit apartments, townhouses, duplexes, cottages, and other housing there while retaining Office vacancy rates Regional market Office vacancy rate Worcester County 17.2% Route 495 West 23.1% Boston Suburbs 24.2% Boston Inner Suburbs 22.7% Route 128 Mass Pike 23.2% Note: Data is for second quarter 2026. Source: Colliers Real Estate You know your business inside and out; we know business banking inside and out. Local businesses like yours count on us to help them manage their cash position and grow—because it's what we know, you know? WE HAVE THE KNOW-HOW TO KNOW HOW BUSINESS WORKS. Member FDIC Member DIF Scan to learn more. continues on page 18 Sen. Jamie Eldridge Year Permitting time (days) 2022 71 2023 64 2024 51 2025 51.5 Note: Data is for second quarter 2026. Source: Colliers Devens' fast permit track Devens requires permitting decisions within 75 days, and its average review time has decreased since 2022. By comparison, Massachusetts' Chapter 43D expedited permitting program gives participating municipalities 180 days to issue local permitting decisions for designated development sites.

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