New study reveals local economic impact of Westover Municipal Development Corp.
CHICOPEE, Mass. (WGGB/WSHM) - In Chicopee, a new study revealed the economic impact that the Westover Municipal Development Corporation has on the region.
The corporation was created in 1974 after the U.S. government vacated major parts of the Westover Air Force Base, creating the smaller air reserve base.
According to a study by the UMass Amherst Donahue Institute, the development corporation, which consists of a host of businesses in those originally vacated areas, generates about $1.1 billion of revenue.
“One of the happy findings of this project is that they are paying above state-average wages here in the business park,” Donahue Institute Sr. Research Manager Rod Motamedi said. “70 percent of the workers here are making more than $40,000 a year, where the state average is about 55 percent.”
Researchers said that the nearly 100 businesses in the corporation have a total of about 3,600 employees.
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