Presented to the attendees of the Massachusetts Office of International Trade & Investment's international economic development tour of Massachusetts. An overview of the redevelopment of Devens, formerly Fort Devens.

1. Massachusetts Office of International Trade and Investment
International Economic Development Tour of Massachusetts

2. MassDevelopment: Who we are
• Massachusetts’ finance and development
authority
– 175 employees in 12 regional offices
• Provide financial and technical assistance to
foster business growth across Massachusetts
• MassDevelopment’s work:
– Real estate development and consultation
– Lending Department: Industrial development
bonds and loans
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3. MassDevelopment Finance
• MassDevelopment issues bonds to:
– Manufacturers
– Affordable rental housing projects
– Nonprofits
• MassDevelopment issues loans for:
– Real estate acquisition and improvements
– Equipment purchases
– Emerging technology development
– Other special purpose businesses
– Brownfield cleanups
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4. Sample of Finance Products
Bond Program:
• Tax Exempt Bonds
• Tax Exempt Letters of Credit
• Mortgage Insurance Guarantees
Loan Program:
• Real Estate loans up to $5 million
• TechDollars: 100% loan for tech. equipment
• Seafood processing loans
• Export loans: 100% loan for businesses involved in
international trade
Kelly Arvidson: VP, Business Development
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5. Devens, Massachusetts
• Nationally acclaimed model of Army Base reuse and
winner of numerous national development awards
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6. Fort Devens
• From 1917 to 1996 a 10,000 acre Army base
• Base closed in 1996: 7,000 jobs lost (2,900
civilian jobs) with an annual payroll of $178
million
• MassDevelopment asked to manage Devens’
redevelopment planning and conversion from
Army base to mixed use community
• Reuse Plan balances economic sustainability
with social and environmental needs
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7. Devens Redevelopment
• MassDevelopment owns 4,400 acres, 2,300 available
commercial development and 2,100 acres preserved
as open space
• Devens’ designation as a State Economic Target
Area, Federal Enterprise Zone, and Foreign Trade
Zone create economic incentive opportunities
• Devens has a supportive business environment: full-
time staff assistance, new utility infrastructure, fast
track permitting, and financing assistance for many
development projects
• Targeted industries include: energy technology,
biotech, medical device, defense technology. Sectors
expected to lead Massachusetts’ future economic
growth
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8. Devens Unified Fast Track Permitting
• Devens development regulations guided by Reuse Plan principles
• Devens pre-permitted for state environmental permits
• Staff ensures proposed projects are consistent with Reuse Plan
• One local Commission issues all permits via a single application
• A through review and vote is guaranteed within 75 days
• Devens has become a model for statewide permitting reform which
includes Gateway cities
Company Project size Application Date of Permit
submitted Decision Issued
Evergreen Solar 475,000 SF 7/5/07 8/14/07 41 days
American 380,000 SF 6/8/00 7/25/00 49 days
Superconductor
Bristol-Myers Squibb 1,500,000 SF 9/6/06 10/25/06 49 days
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9. Why Choose Devens
– Lower business costs
– Large land sites with full utility infrastructure
– On site training
– Center for industry clusters
– Diversity of skilled workforce
– Region is a manufacturing stronghold
– Business amenities: golf, restaurants, hotels, etc…
– Lower living costs
– Wide range of housing opportunities
– Excellent local schools and Parker Charter School
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10. Devens Smart Growth Principles
• Greater development densities to reduce land
consumption and preserve open space
• Adoption of innovative technologies
• Development located on brownfield sites
• Green construction methods for energy and
material cost savings
• Housing designed to meet a diverse
population: from affordable starter to
executive
• Public transportation availability
• Pedestrian friendly
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11. Where Devens is Today
• $2.2 billion public/private investment
– 6.75 million SF of permitted new development
• 75+ businesses have located at Devens
– Johnson Mathey, Netstal, Anheuser Busch InBev, Bristol-
Myers Squibb, Proctor & Gamble/Gillette, Kraft Foods,
American Superconductor, Evergreen Solar
• Job creation exceeds civilian job loss (2,900) when
base closed
– More then 3,500 jobs generating $220 million annual payroll
• Better paying jobs
– Devens average of $51,279 versus MA average of $48,916
and U.S. average of $39,354
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