50 Prescott Street

Worcester, MA (2011)

50 Prescott Street

Business Development, Environment, Manufacturing

This innovative financing package helped fund construction of a 95,000-sq. ft. wet lab at Gateway Park in Worcester, which is expected to create 40 jobs.

Investment

NMTC Amount: $8,365,500
Total Project Cost: $31,279,730

IMPACT

140 FTE jobs
88 construction jobs
95,000 sq. ft. of real estate

CDEs

MassDevelopment

Investor

Unknown

Project Description

This innovative financing package helped fund construction of a 95,000 sq. ft. wet lab at Gateway Park in Worcester, which is expected to create 40 jobs. Gateway Park is agrowing center for research, development, and innovation, and had been nationally recognized as a model for environmental stewardship and urban development.