If the modest commercial elements of the Holtec/Pine Hills master plan were adopted, it would result in one of the most significant economic development opportunities on the U.S. East Coast.
In a global economy where industries are ever evolving – and often in new directions at a rapid pace – Massachusetts is at a competitive advantage, especially because of its highly talented workforce. While the state is ripe for investment by sizeable employers, it is also involved in a global site location competition that it is often losing due to the lack of job-ready large-acreage sites. In fact, a recent MassEcon study, “Large Site Demand and Capacity in Massachusetts,” reveals that 90 percent of commercial real estate professionals believe this shortage of sites puts the state at a competitive disadvantage. While several highly desirable industry sectors, such as clean energy, data and AI, and advanced manufacturing are driving demand for large acreage availabilities around the nation, Massachusetts has only 12 sites of 100-plus acres currently available. Many of these sites lack sufficient power, water, and sewer infrastructure. With our Team Massachusetts partners, MassEcon works on a considerable number of projects seeking coastal properties for a variety of marine-associated industries. Massachusetts has only three properties of 30-acres or more that could serve a coastal commercial project, and there are very few development opportunities elsewhere on the U.S. East Coast. If only a part of the Pilgrim site was made available for such development, it would vault the site to premier status on the East Coast, with its pick of desirable, job-creating, tax-generating opportunities. It is an opportunity that should not be dismissed.
– Peter Abair
Abair is executive director of MassEcon, which describes itself as “a statewide nonprofit alliance of private and public sector partners.”