Issue link: https://nebusinessmedia.uberflip.com/i/469102
10 2015 Economic Forecast www.wbjournal.com Worcester Business Journal 2015 ...and what actually happened Our prediction... A health care provider in Central Massachusetts will be involved in a merger or acquisition. Reliant Medical Group of Worcester and Southboro Medical Group will become one as of Jan. 1 aer the two broke off from the Atrius Health network. } 4 e median price for a single-family home rose about 3 percent in Central Massachusetts. But as for inventory, it actually shrunk a little, according to data from e Warren Group. } Housing prices in the region will rise, but only by a little, as more homes — new and used — become available on the market. 4 } The nation's Gross Domestic Product will top 3 percent. at's the consensus "line in the sand" that determines whether growth is strong or tepid. e annual rate as of the third quarter was 3.5 percent. 4 } CitySquare will move ahead — slowly — as officials review new plans for housing in the downtown area. In September, Leggat McCall Properties, which is in charge of redeveloping CitySquare, announced that a private developer will build 300 apartments on the site of what was Galleria Mall, the Telegram & Gazette reported recently. A plan for a hotel is also in the works. 4 } The national and state unemployment rates will fall, with the national rate ending the year at less than 6.5 percent. e national rate slid gradually from 6.6 percent to 5.8 percent in November, when employers added more than 320,000 jobs. Meanwhile, the state rate also fell to 5.8 percent, from 6.8 percent. 4 } Enrollment growth in the region's colleges and universities will continue to slow as the economy continues its surge and more people opt to work rather than go back to school. ere were fewer new full-time students compared with 2013. But colleges such as Assumption and Nichols have taken steps to rein in costs by announcing tuition freezes. 4 } The state sales tax will be lowered from its current 6.25 percent. is one never got off the mat, although one lawmaker proposed an amendment to a spending bill that would have reduced the levy to 5 percent. 8 } rough the third quarter, vacancies had plunged to 15.5 percent in Worcester and 25 percent in the MetroWest area, while rents rose 4 percent, according to Colliers International. 4 Office vacancy rates in Central Massachusetts will fall 3 percent while rents will rise. } The number of branches owned by banks based outside Central Massachusetts will dwindle. 8 By our count, there was no net change. } Another major employer will announce plans to move or expand into Marlborough, bringing with it at least 100 jobs. Score! GE Healthcare Life Sciences announced in August that it will move its headquarters to Marlborough in 2015. It's making a $21-million long-term investment in a 160,000-square-foot facility. When fully operational, it will house more than 500 "highly skilled" employees. 4