Window in utility room?

I've got a dilemma I'm hoping you guys can offer some input on...
My house was built in 2000, and has a utility room in the basment containing the furnace (FHA/oil), water heater (separate oil), oil tank, water meter, and circuit breaker panel. The room measures about 10x12, has one 36" wide entrance door and a double-hung outside window (basement is above ground).
Here's the problem: I need to add a bunch more electrical circuits and the breaker panel's full, so I've decided what's needed is a subpanel. Problem is, the best (and almost only) place to put the subpanel is right next to the existing one, where the window is located.
So the question: can anyone think of a reason, code or otherwise, to keep the outside window? There's already a vent thru the wall to provide combustion air for the burners.
This is in Massachusetts, if it makes a difference.
Thanks!
Eric Law
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Maybe not. Larger panel, half sized breakers are alternatives.

Could be a code issue as a fire escape. Check with your building inspector.
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