Springfield: Next economic development frontier?We have thrown open the blinds, turned up the lights and the signs are now all proudly displayed. The message is clear: Springfield is open for business. The city of Springfield is in the midst of a renaissance. From remarkable fiscal improvements and large-scale economic development projects to new transparencies and amplified professional management measurements, Springfield is positioning itself as a municipality able to compete in a regional market. Led by Mayor Charles V. Ryan and a finance control board, Springfield has been able to cut through bureaucratic red tape and deliver results for residents, businesses and the region. Read more  Changes along the road to economic recovery have been many. An emphasis on sound financial management has turned a $41 million deficit in fiscal 2005 into a budget reserve of $10 million in fiscal 2006, and there is a projected positive balance for fiscal 2007. This, along with stronger managerial controls, quality management and a road map for the future, has worked together to elevate the city from junk to investment grade on Standard and Poor's and Moody's. The business community has been among the first to take notice. A $14 million fitness, sports and entertainment complex is under construction along the city's riverfront. Regional distributor Performance Food Group has invested another $30 million in an expanded facility, which carries the promise of 200 new jobs. Baystate Medical Center has embarked on a renovation and expansion of its main campus, including a new 600,000-square-foot building, representing a $259 million investment and more than 500 new jobs. An increase in the level of market-rate housing has followed business investments, including a $24 million conversion of a former school in the city's North End to 110 high-end condominiums. At the center of these initiatives is the coordinated leadership of state and city officials. The city has laid the foundation to secure continued business interest. A coordinated permitting process places the responsibility for delivering projects and partnering with the business community in the hands of the city's chief development officer, who works with the finance control board. Recognizing that any economic development is dependent on the available work force, the city has a developing partnership with the Economic Development Council Homefield Advantage Program, the Regional Employment Board, Springfield Technical Community College and the Massachusetts Career Development Institute, which provide regional support, job training and workplace readiness programs. In addition, under construction is a state-of-the-art vocational high school, scheduled for completion in 2010. Springfield is the City of Homes. In addition to its well-known Victorian mansions, the city has a healthy stock of affordable housing in attractive communities. We are also home to four colleges, four world-class museums, a national historic armory, a Holocaust education center, the Springfield Symphony Orchestra and Chorus, and City Stage, proving that Springfield is a world-class city with community at its heart. We recognize that even with these efforts, it takes a keen eye to see an undervalued asset and that public safety and education improvements remain a primary focus. Springfield has turned a corner, and while costs to do business continually soar and congestion and high housing costs erode the quality of life in the eastern end of the state, Western Massachusetts is doing everything we can to turn this hidden opportunity into the state's next development frontier. Azell Murphy Cavaan is community relations director for the city of Springfield. She can be reached at ACavaan@springfieldcityhall.com. More Springfield News:
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Page last updated: Thursday, September 27, 2007 11:42 am