While the economy seems extremely pessimistic and gloomy, the region of the Boston Seaport and the Kendall Square in Cambridge, Massachusetts is thriving as various investments are pouring in to fund various projects within the region.
The amount of money that is pouring into the region of Boston sums up to nearly 1 billion dollars. The majority of the money is being allocated to the fields of biotechnology, technology and various alternative types of energy. Many companies are constructing office towers and creating research labs around the region of Seaport and Kendall Square.
Many real estate individuals and investors are taking advantage of the thriving economy around the region by purchasing homes around the Seaport and Kendall Square area and reselling them as they make a profit. The region of Seaport and Kendall Square is said to have achieved a strong sense of economic growth and development due to a concept called critical mass.
The combination of highly trained workers and creative companies is creating a high demand from other firms and companies to move to the area.
An example of a company transferring because of critical mass was Skanska Commercial Development. The development company is constructing a brand new laboratory facility for nearly $70 million dollars.
The main reason for the development of the Skanska laboratory facility was due to the access of the transit, the surrounding universities and other research buildings and the large quantity of biomedical companies. Ultimately, the surrounding developing region is extremely attractive to various small and big businesses.
The Boston Seaport is also the location of a private funded project which is estimated at nearly $800 million dollars for the construction of an office for Vertex Pharmaceuticals.
The influx of various big name companies in the region of the Boston Seaport and Kendall Square is creating an economic boom that is currently rare.