UMass Study Shows Impact by Mill Town Capital in Berkshire County
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.
