GOVERNOR PATRICK VISITS SOUTHGATE PLACE PROJECT TO HIGHLIGHT REGIONAL ECONOMIC REVITALIZATION
Project will yield 25 rental units; create over 30 construction-related jobs
Governor Patrick visits the Southgate Place project that will create more affordable rental units in Worcester. (Photo credit: Matt Bennett/Governor's Office). View additional photos.
WORCESTER - Tuesday, August 17, 2010 - As part of the Patrick-Murray Administration's historic $4 billion Massachusetts Works program that will put nearly 20,000 people to work across the Commonwealth, Governor Deval Patrick today toured the Southgate Place project in Worcester to view construction progress and highlight the importance of this project in spurring private development in the region. This project, made possible with a combination of federal and state funding, will create more than 30 construction jobs.
Once completed, the Southgate Place project will provide rental units for 25 mid- and low-income families, and contain a mix of one, two and three bedroom units. The project is located in the South Worcester Industrial Park and is part of an overall economic revitalization effort announced by Governor Patrick last year.
"Our number one priority is putting shovels in the ground and people to work right now," said Governor Patrick. "Through investments like this one, hundreds of projects will break ground this year around the Commonwealth, which means thousands of new jobs."
Over the past year, the Patrick-Murray Administration has awarded more than $168 million in tax credit assistance and exchange recovery funds from the federal government to revive 32 developments just like Southgate Place throughout the Commonwealth. Those projects are expected to generate more than 3,000 jobs and provide nearly 2,000 new housing units, 1,669 of which will be affordable for low- and moderate income working families.
Since day one, Governor Patrick's top priority has been to create jobs and build a stronger economic foundation for the people of Massachusetts. Through fiscally responsible, targeted investments in the life sciences and clean energy sectors, along with the largest investment in our public infrastructure in decades, the Patrick-Murray Administration is putting people back to work across the Commonwealth. As a result, Massachusetts is emerging from the recession faster and stronger than any other state in the nation.
June was the fifth straight month of job gains in Massachusetts - with a total of almost 45,000 jobs added since December 2009. In April, the Commonwealth had the largest single monthly job gain in 17 years, adding 19,000 jobs to our economy. Additionally, CNBC recently ranked Massachusetts the fifth best state to do business in, a significant improvement from 15th in 2008 and eighth in 2009. It also marked the first time in the history of the rankings that Massachusetts has finished in the top five.
The Federal Reserve Bank of Philadelphia reports that since the national recession began in December 2007, Massachusetts' economy has performed better than 33 of the 50 states. In the last quarter of 2009, Massachusetts outperformed 48 other states. And, expressly citing the Governor's successful management through the national fiscal crisis, all three national rating agencies - Standard & Poor's, Fitch and Moody's - have re-affirmed the state's AA bond rating.
To learn more about the Governor's plan to revive housing development projects across the Commonwealth, click here. To learn more about the Governor's job creation and economic growth initiatives, visit www.ma.gov/governor/jobs.