UMass Study Shows Impact by Mill Town Capital in Berkshire County

11:42AM / Saturday, May 03, 2025Print Story | Email Story

PITTSFIELD, Mass. — An analysis by the UMass Donahue Institute (UMDI) indicates that Mill Town Capital generated a total economic impact of $132 million across Berkshire County, Massachusetts, between 2017 and 2023.

The independent study examined the effects of Mill Town's investments in local businesses, real estate, and infrastructure, as well as its philanthropic activities.

According to the UMDI, the investments resulted in a 1.42x economic multiplier, meaning that every $100 generated by Mill Town Capital led to an additional $42 in local economic activity. The study also found that the number of workers connected to Mill Town Capital's activities increased from 3 in 2017 to 672 in 2023. Additionally, the analysis suggests that $5.1 million in local tax revenues were generated through investment and job creation. The report states that $107.3 million (81 percent) of the total economic impact occurred in Pittsfield.

Tim Burke, CEO of Mill Town Capital, stated that the report confirms the impact of community-based investment. The UMDI report suggests that Mill Town Capital's approach, combining private investment, public-private partnerships, and community engagement, has produced measurable returns. Rod Motamedi, Assistant Director of Economic and Public Policy Research at UMDI, noted that Mill Town Capital's business model demonstrates how mission-driven capital can contribute to economic change and that community engagement can foster momentum for Pittsfield and the region.

Mill Town Capital, founded in 2016 by Dave Mixer, describes itself as an impact investment platform focused on the revitalization of Pittsfield and Berkshire County through investments in real estate, businesses, and community initiatives.

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Neal Tours Berkshire Innovation Center as Pittsfield's Tech Economy Grows

By Sabrina DammsiBerkshires Staff
05:38PM / Thursday, October 15, 2026

PITTSFIELD, Mass. —Congressman Richard Neal visited the Berkshire Innovation Center Thursday to highlight $735,000 in federal funding secured for a new cybersecurity training and testing facility.

"The number one job of the federal government is to provide for the security of its people. I mean, we should never lose sight of that, whether it's China or Russia, every single day there are these belligerents that are attempting to infiltrate national security here in the United States, and we should not be naive about it," Neal said. "I mean, we can have an argument about proportionality; we can do a lot of different things, but not to miss the point of what they're trying to do every day."

The new cybersecurity facility will provide regional manufacturers and businesses with research and design equipment, specialized lab space, and training facilities and is planned to be housed in a to-be-redeveloped space across the street from the Berkshire Innovation Center (BIC), located at 45 Woodlawn Ave.

The derelict property, formerly owned by General Electric, is now known as the William Stanley Business Park.

The project is a $7.2 million dollar investment from the state, $5.2 million from the tech collaborative, $2 million from bond funding secured by Neal, and $1 million that will be split into two phases: $500,000 for BIC to begin building and $500,000 for Myrias Optics to start production in Pittsfield, said Mayor Peter Marchetti.

BIC Executive Director Ben Sosne said manufacturers often highlight the need for help with cybersecurity, particularly in meeting the security requirements necessary to conduct business with General Dynamics and other major contractors.

Collaborators in the field and the public sector have recognized the need that has only grown since technology has advanced and is a great career opportunity, Sosne said.

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