Report title: Transforming Quincy: A Holistic Assessment of the Economic Contributions of the Quincy Center Urban Revitalization District Project
Author(s): Michael Goodman, David Borges, Elise Rapoza, Michael McCarthy, James DeArruda, Joy Smith, and Robert Stickles
Report date: Spring 2019
Sponsor: The City of Quincy
Issue areas: urban revitalization, economic development, economic impact analysis, housing
Summary & key findings: The Quincy Center Urban Revitalization District Project (URDP), one of the largest ongoing urban renewal projects in the state, is a significant contributor of jobs, labor income, and economic output. Since the formation of the URDP in 2007, more than $425.2 million dollars in public and private funds have been expended or are anticipated to be expended to support public infrastructure improvements, building renovations, and building construction.
Construction activities related to these expenditures directly supported an estimated 2,344 full-time equivalent (FTE) jobs. When the indirect and induced impacts are added, construction activities in Quincy Center supported an estimated 2,545 jobs in Quincy, 3,835 jobs in Norfolk County, and 4,227 jobs statewide (see Figure 1). Importantly, these results do not account for the impact of future potential development in Quincy Center, which will include additional public infrastructure improvements and the potential development of more than a million square feet of commercial and residential space.
Report link: Access the report here.