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4 2014 Central Mass By The Numbers • Worcester Business Journal www.wbjournal.com Table of Contents Demographics & Employment. .......................7 Overview ............................................................................. 8 Highest and lowest unemployment rates in Central Mass. .......9 Employment in Massachusetts ..........................................10 Population growth by community in Central Mass. ................. 11 Unemployment rate by community in Central Mass. .............. 12 Job growth forecast in Massachusetts .................................13 Education .................................................... 15 Overview .............................................................................. 16 College enrollments in Central Mass. ..................................... 18 MCAS scores at Central Mass. high schools .......................... 19 Innovation schools in Central Mass. ...................................... 20 School district spending in Central Mass................................ 21 Finance & Economics .................................. 22 Overview .............................................................................. 23 Bank branches by community in Central Mass. ....................... 25 Consumer confidence in Massachusetts ................................ 26 State budget breakdown ....................................................... 26 Tax levies by community in Central Mass. ............................... 27 Health Care ................................................. 29 Overview .............................................................................. 30 Health insurance premiums ................................................. 31 Central Mass. hospitals' operating margins ............................ 32 Massachusetts health care occupation projections ................ 32 Real Estate ................................................. 35 Overview .............................................................................. 36 Office vacancy rates: Q32014 ............................................... 36 Foreclosures by community in Central Mass. .......................... 37 Assessed value of property by community in Central Mass. ................................................. 38 Value of tax-exempt property by community in Central Mass. ................................................. 39 Single-family-home building permits by community . ................ 40 Property tax rates by community in Central Mass. . ........... 36, 41 Technology & Energy ................................... 43 Overview .............................................................................. 44 Fuel mix in Massachusetts.................................................... 45 Venture capital investment in Massachusetts ......................... 45 Top technology jobs in Massachusetts ................................... 46 Top patent recipients in Central Mass.: 2011-2013 ................ 47 Tourism & Transportation ............................. 49 Overview .............................................................................. 50 Highest use of public transit by Central Mass. community ...... 50 Gasoline prices in Massachusetts ......................................... 51 Average commuting times by community in Central Mass. ....... 51 Occupancy and revenue for Worcester County hotels ............... 51 Business Resources ............................... 52-54 Small business services in Massachusetts W hen I was a college undergrad many years ago — please don't ask how many — I had no interest in taking any course that had the least bit of math in it. I had my fill of that subject through high school and got lost in the numbers, as well as the many variables in place of numbers when the subject was algebra. My strengths were English and social studies, so, after all, why did I need math if I was going to become a reporter, and later an editor? How wrong I was! During my first few years after college, I saw how numbers and series of numbers sowed the seeds of good, provocative stories that grabbed readers' attention. Around the same time, news organizations began to invest in the discipline of graphic design to help make those numbers come alive and enhance the content around them. All of that, coupled with the fact that I developed an interest in how businesses made decisions, inspired me to take an accounting course when I attended graduate school. I found it intriguing and exciting, which probably led some of my friends to conclude that I should visit a shrink. We're a business medium, so we love numbers. We love them so much that, each year, we publish Central Mass. by the Numbers to give you a comprehensive, quantitative picture of the region. This data will help you get a sense of where the region's economic fortunes may be headed. It also provides you with data about Central Massachusetts that's within an arm's reach. This 2014 edition contains many elements readers have come to expect, including town-by-town charts of vital statistics such as population growth (Page 11), MCAS scores (Page 19), bank branches (Page 26) and property tax rates (Page 41). The book is divided into seven industry sections, each introduced by a story that addresses a trend in that sector, some of that borne out by data you'll find in this book. In addition, you'll find a collection of "quick hit" data nuggets for each of the seven sections. We hope you find this publication useful. And we welcome your comments and suggestions at rsaia@wbjournal.com or editorial@wbjournal.com. — Rick Saia, Editor Numbers and context Introduction/Table of Contents