Boston Fed chief Eric Rosengren called for increased attention by policymakers on the region’s mid-sized cities.
“They have not seen the same degree of economic vibrancy as residents in Greater Boston, but they do encompass an important source of future growth, for a couple of reasons,” Rosengren said. “One, they frequently serve as an entry point for new immigrants, and two, they have on average a younger population than the rest of New England.”
Rosengren — speaking in Lawrence at an annual meeting of the Community Development Advisory Council — said the populations of New England’s smaller cities, ranging from 75,000 to 200,000, taken together roughly match Boston’s.
The president of the Federal Reserve Bank of Boston said these cities continue to struggle with the loss of manufacturing jobs and lack of innovation, but “some have done better than others in turning around their economies.”
“It is this revitalization … that we all want to see replicated in those cities that are having difficulties re-engineering themselves,” he said.
Rosengren said the mid-size cities have the potential to become “resurgent,” particularly the ones along the coasts that can create opportunities with their port facilities and attract tourists and new residents. Others are located at key transportation hubs that could attract industries and promote growth.
“Providence, New Haven, and Worcester were the three New England cities classified as resurgent by (Boston Fed researchers),” he said. “These three cities all have a strong academic presence in their cities, as well as serving as major medical centers.”