November 09, 2012

WoMag story on SWIP

In case you missed this:

In 2010, the nonprofit Worcester Business Development Corporation, reported $1.8 million in revenues from program services, grants and investments earned while the organization promoted economic development and job creation.

Salaries and benefi ts for WBDC’s 10-member staff were $1.1 million with then president

David Forsberg taking home $235,000 in regular pay and $42,000 in other compensation and then-VP and current president Craig Blais earning $167,000 with another $41,000 in added compensation.

In case you are wondering that is 485,000 in annual compensation between the President and Vice-President of the WBDC.   


Jahn said...

Would someone please show me a small to mid sized for profit contractor or retail operation or otehr small business that pulls in $1.1M per year and has not one, but two high level executives that pull down anywhere near this kind of money or have anywhere near this kind of job security.

Assuming there's a secretary and/or administrative position(s) at WBDC that would require another $115k in compensation and you've got 55% of the WDBC's revenue stream going out the door in employee compensation.

Seems the primary thing being dev'ed a WBDC is the employees bottomline and please I do not want to hear what great guys the folks at WBDC are. I have met David and yes he seems like a decent guy...but this aint about who's a nice guy and how isnt. This instead is about private sector workers who are on the ropes paying these 1%'er types salaries to non profit employees.

Bill Randell said...


All good questions and I think we should ask them three years from now when MassPort has had full ownership for 5 years.