At a recent symposium at Tufts University, Federal president and CEO Donald C. Wood told a gathering of 100 developers and government officials, "We are in Assembly Square because of the mayor…Of the 15 (proposed) projects on the east coast, this was the one we wanted to do." Federal plans to create a $700 million mixed-use facility, including the retail space at the mall, residential development, and commercial space on the 37-acre site.

"We want to send the message loud and clear," said Somerville Mayor Joseph Curtatone. "We welcome businesses that recognize the competitive advantages of locating to Somerville, and will do everything to help them locate here and prosper." Curtatone said the city is working to reduce regulatory hurdles, simplify the permitting process, and facilitate the redevelopment of brownfield sites for redevelopment. He also emphasized the city's location and its close proximity to Boston and Cambridge. "A major theme of the city's economic development initiative will be the benefits that can be derived by integrating Somerville more fully into the Boston/Cambridge orbit, not just for Somerville, but for the entire region."

David Clem, managing director of Lyme Properties, whose firm specializes in life science real estate development, said that Somerville should take advantage of its proximity to Cambridge, the largest biotech market on the east coast. "It's location, location, location," he said. "The gestation period (to bring a product to market) for a biotech company is 15 years. When they make their entry level decision, they're looking to stay there."

The seminar was the first of a series of forums designed to promote business development here. This session focused on highlighting the city's competitive business advantages, addressing obstacles impeding local development, and the economic impact of the opportunities created by the acquisition of the defunct Assembly Square Mall.