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As a resident I am curious how this will affect me. Less traffic on Rt-20 due to the loss of 2000+ cars flowing in and out of the parking lot everyday? This is a great opportunity for the town to clean up that section of Rt-20 and put in some usable sidewalks, but I know they are going to screw it up like they always do. An outdoor mall similar to Patriot Place (on a smaller scale) would be nice, but I know that will never happen in Sudbury.
That's town tax revenue gone from both the company and those highly-paid/skilled workers who chose to live in town due to its standard of living and proximity. Towns like Framingham, Southborough and Westborough will feel it too. This will mean a steady increase of taxes on everyone else for the next several years while the town makes up for the loss.
It's not as big as for example EMC leaving Hopkinton (its overall effect on the town), but it's up there, I think.
It's never good when large companies who employ high salaried workers leave a relatively small area.
What tax revenue are you talking about? Raytheon still has to pay the same amount of property taxes on the building until they sell it and the new owner will take over the same tax payments. Once the site is developed, they will presumably pay even more in taxes if they raze the 2 buildings and turn it into a "lifestyle development" of some sort. However, if the town buys the property as a site for the new police station (we recently voted to build a new police station because the old lot was too small to accommodate a newer/bigger building) then it's a significant loss of tax revenue.
used to work there. the land goes WAY back, you could fit 25 police stations
Wow, I didn't know it was that big because all you can see is the 2 buildings close to the street. Looking at the google maps satellite view, there's also a 2000-car surface lot in the back. I think there's potential for a developer to come in and build a massive subdivision - probably 2 streets with 40-50 houses. I hope not. I'm just wondering if anyone else has experienced something like this in their town and what ended up happening after the loss of the town's largest employer.
Parsec, look at Southbridge, MA and surrounding towns. The company was American Optical. They closed up shop, still maintaining the buildings, but a huge percentage of the town was employed there and suddenly they weren't. Southbridge isn't doing well these days. Not saying this is a 1:1 comparison; Sudbury has a lot more going for it now than Southbridge ever did, but these types of departures are devastating.
Tax revenue comes from not just Raytheon's property taxes, but all those residents' taxes. If people are living in Sudbury for their Raytheon jobs, they'll likely move to where it's convenient for them. I'm not saying this happens overnight, but it will happen over time.
Parsec, look at Southbridge, MA and surrounding towns. The company was American Optical. They closed up shop, still maintaining the buildings, but a huge percentage of the town was employed there and suddenly they weren't. Southbridge isn't doing well these days. Not saying this is a 1:1 comparison; Sudbury has a lot more going for it now than Southbridge ever did, but these types of departures are devastating.
Tax revenue comes from not just Raytheon's property taxes, but all those residents' taxes. If people are living in Sudbury for their Raytheon jobs, they'll likely move to where it's convenient for them. I'm not saying this happens overnight, but it will happen over time.
Actually, this is a relief. I just found out the majority of employees are moving 5 minutes down the street to the Raytheon plant in Marlborough. The rest will be shipped to Tewksbury, Andover and Woburn depending on where their projects are based. So the Raytheon employees who live in town likely will not be moving out of town. This just opens up a big vacant lot in a prime area of town. Who knows if they will lease it to another big corporation or if it will be redeveloped though.
I don't see resident population changing much...jobs are just moving to neighboring towns and you cannot assume all workers in Sudbury actually live in Sudbury. Some local businesses def. will feel it more than others (like close by lunch eateries) and I think there is a knock-on affect that would impact slightly lower tax base but really hard to tell.
The more interesting question is what happens to that sight in general. Won't know for a few years. I would assume it involves some type of development that brings with it traffic
Actually, this is a relief. I just found out the majority of employees are moving 5 minutes down the street to the Raytheon plant in Marlborough. The rest will be shipped to Tewksbury, Andover and Woburn depending on where their projects are based. So the Raytheon employees who live in town likely will not be moving out of town. This just opens up a big vacant lot in a prime area of town. Who knows if they will lease it to another big corporation or if it will be redeveloped though.
the building is outdated & in bad shape. however the redevelopment plan ends up it'll be ripped down regardless.
Im not sure what raytheon tends to do with old properties...there's plenty of precedent i.e. Lexington, Bedford, quincy, Lowell, etc...sudbury tho, what a gold mine.
I don't see resident population changing much...jobs are just moving to neighboring towns and you cannot assume all workers in Sudbury actually live in Sudbury. Some local businesses def. will feel it more than others (like close by lunch eateries) and I think there is a knock-on affect that would impact slightly lower tax base but really hard to tell.
The more interesting question is what happens to that sight in general. Won't know for a few years. I would assume it involves some type of development that brings with it traffic
Sudbury does have a pretty good restaurant scene for such a sleepy town with nothing else to do nearby. I never made the connection between that and Raytheon's lunch hour until you brought this up. I can see many of the eateries along Rt-20 going out of business. Oh well, as long as Fugakyu, Paani and Acapulcos stay in business I'm happy.
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