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Celebrating 50 Years of Growth, Jobs and Development 25 Massachusetts Biotechnology Research Park • HISTORY In 1984, Worcester State Hospital and UMass Medical School jointly owned a 100-acre tract of farmland situated between the two entities. As scientific projects at UMass continued to expand and the biotechnology field blossomed, this land was considered a prime location for a park in which to further foster medical research and development. • CHALLENGE The WBDC envisioned the proposed Biotechnology Park as a state-of-the- art facility that would make significant contributions to medicine and also lay the foundation for a nationally recognized biotech center in Worcester. To accomplish such a monumental task required coordination of permitting, planning and, most important, procuring adequate financial backing. • SOLUTION The WBDC secured tremendous fiscal support, making the project possible: a $1 million Economic Development Administration (EDA) grant; a $1 million Community Development grant for street and utility improvements in the area; $2 million in state and federal funds; and a $3.5 million Public Works Economic Development (PWED) Grant for completing all necessary infrastructure. • RESULTS Upon completion in 1995, Biotech Park included eight state-of-the-art buildings on more than 800,000 square feet of land. At the time, seventeen tenants with 1,200 on-site workers occupied the park and generated approximately $3.5 million in property tax revenues for the City. From its inception, MA Biotech Park has enjoyed a strong partnership with UMass Medical School. This collaboration affords the opportunity for advanced research and development in the life sciences and biotechnology. and revenue generator Built: 1986 - Biotech One 1987 - Biotech Two 1990 - Biotech Three 1993 - Biotech Four 1995 - Biotech Five Research «