Along with the rest of Massachusetts, Lowell suffered a heavy decline in the latter half of the 20th century as the textile-based economy of the region collapsed. The city owes its revival of economic fortune to the high-tech and service industry development downtown. In addition, the city has profited from its strategic location near other cities that lured traditionally profitable insurance companies.
The reported median income in Lowell is $ 41,272, slightly lower than the national average of $46,242. Top Lowell employers include:
- Watermark Environmental, Inc.
- US Filter
- M/A-Com
- JP Morgan Chase
- Lowell General Hospital
- UMASS Lowell
The development of Cross Point--formerly home to Wang Laboratories--created new offices with a high occupancy level. Stalwarts like Coca Cola, JP Morgan, Enterprise Bank & Trust, Fred C. Church Insurance, and Interstate Container have also pumped up the Lowell economy.
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