Worcester Business Journal

wbjournal.com | September 3, 2018 | Worcester Business Journal 3 Editor, Brad Kane, bkane@wbjournal.com News Editor, Grant Welker, gwelker@wbjournal.com (Real estate, higher education) Staff Writers Zachary Comeau, zcomeau@wbjournal.com (Manufacturing) Emily Micucci, emicucci@wbjournal.com (Health care) Contributors Susan Shalhoub Livia Gershon Research Director, Stephanie Meagher, smeagher@nebusinessmedia.com Research Assistant, Heide Martin, hmartin@nebusinessmedia.com Production Director, Kira Beaudoin, kbeaudoin@wbjournal.com Associate Art Director, Mitchell Hayes, mhayes@wbjournal.com Senior Accounts Manager Matt Majikas, mmajikas@wbjournal.com Senior Accounts Manager Christine Juetten, cjuetten@wbjournal.com Senior Special Accounts Manager Mary Lynn Bosiak, mlbosiak@wbjournal.com Marketing & Events Manager Kris Prosser, kprosser@wbjournal.com Events & Marketing Intern Megan Irish, events@wbjournal.com Distribution and Database Coordinator A Guide to STUFF, a publication of New England Business Media Patty Harris, pharris@nebusinessmedia.com COO, Mary Rogers, mrogers@nebusinessmedia.com Accounting Manager, Valerie Clark, vclark@nebusinessmedia.com Accounting Assistant, Rae Rogers, rrogers@nebusinessmedia.com Collections Manager, Raki Zwiebel, rzwiebel@nebusinessmedia.com Human Resources, Jill Coran, jcoran@nebusinessmedia.com Publisher, CEO, Peter Stanton pstanton@nebusinessmedia.com Associate Publisher, Mark Murray mmurray@wbjournal.com President, Joseph Zwiebel jzwiebel@nebusinessmedia.com Worcester Business Journal (ISSN#1063-6595) is published bi-weekly, 24x per year, including 4 special issues in May, September, October, and December by New England Business Media. 172 Shrewsbury St., Worcester, MA 01604. Periodicals postage paid at Worcester, MA. Copyright 2018. All rights reserved. Postmaster: Please send address changes to: Worcester Business Journal, PO Box 330, Congers, NY 10920-9894. Subscriptions: Annual subscriptions are available for $54.95. For more information, please email wbjournal@ cambeywest.com or contact our circulation department at 845-267-3008. Fax: 845.267.3478 Advertising: For advertising information, please call Mark Murray at 508-755-8004 ext. 227. Fax: 508-755-8860. Worcester Business Journal accepts no responsibility for unsolicited manuscripts or materials and in general does not return them to the sender. Worcester Business Journal 172 Shrewsbury Street, Worcester, MA 01604 508-755-8004 tel. • 508-755-8860 fax www.wbjournal.com A division of: Worcester Business Journal WBJ A mong the household roles I've fallen into aer 10 years of marriage to my wife Sarah is that of money manager. I pay the bills, handle the incoming payments and set the budget. When our family wants to spend outside the budget – a more elaborate vacation, an impromptu trip to the toy store – I make the call. is job sucks. I end up having to say no about half the time and end up feeling like the bad guy crushing all my kids hopes and dreams. While they are disappoint- ed and only think about what they are losing out on, I have to remember we use that money for: the mortgage, groceries, utilities, long-term savings, fixing the roof, keeping them clothed. When Worcester announced on Aug. 17 the Pawtucket Red Sox had signed a deal to move to a new stadium in the Canal District, my first question was very similar to one I ask my wife when we consider going outside the household budget, "How much are we going to have to pay?" Stadium financing deals across the country are notorious for not working out in favor of municipalities, and I figured Worcester would have to stake significant- ly more than the $38 million Rhode Island and Pawtucket were offering. Turns out, Worcester is on the hook for about double. Every December when Worcester City Council goes to adopt the next year's property tax rate, businesses across the city are up in arms. ey decry the annual raises and the rising difference between the commercial and residential tax rates. Timothy Murray – president and CEO of the Worcester Regional Chamber of Commerce, who has been very supportive of the PawSox deal and has a column on page 21 – wrote a letter to the council in May saying taxes were partially responsible for Worcester losing three manufacturing companies and nearly 500 jobs. is is where my thoughts dried during the excitement following the PawSox announcement: What is the tax rate going to do now? City Manager Edward Augustus is confident the stadium development will pay for itself; economists aren't so sure. e nine independent econ- omists who reviewed the financing details for WBJ all said it wouldn't. Really, this is beside the point. Much like Not to harsh your buzz, but… I N T H I S I S S U E aer my kids go on a toy run, that money is spent. Once the city approves the deal, there's no turning back. Now, it's about get- ting the most out of our purchase. - Brad Kane, editor W THE REGION'S PREMIER BUSINESS BROKERAGE FIRM 65 James St. Worcester, MA georgeandco.com 508-753-1400 Business Brokerage Business Appraisals Financing Mergers & Acquisitions Since 1981 Is it time to sell your business? Need to know what your business is worth? Thinking about buying a business? At George & Company we have the knowledge and experience to help businesses of all sizes find what they are looking for, be it a buyer, seller, acquisition, or their own value. NEWS & ANALYSIS DEPARTMENTS 4 Central Mass. In Brief 5 Flash Poll 12 Focus on Higher education 15 The List: Top colleges and universities 17 The Rainmaker 18 Know How 19 Movers & Shakers 20 Photo Finish 21 Opinion 22 Shop Talk: Ava Collins, Saint Vincent Hospital 12 Worcester's downtown university Since coming to Worcester in 2000, MCPHS' campus has grown to almost 2,000 students and 18 buildings. CORRECTIONS: The Aug. 20 Shop Talk feature entitled "A family affair" incorrectly said BirchTree Bread Co.'s square footage is 1,500 and its parking lot is at 22 Housatonic St. The correct facts are 5,800 square feet and 22 Assonet St. • An Aug. 20 profile on WBJ 40 Under Forty winner Blaine Schnare incorrectly said she is a current board member of the Webster Dudley Oxford Chamber of Commerce. She is a former board member of that chamber. • An Aug. 20 profile on WBJ 40 Under Forty winner Mark A. Borenstein incorrectly said he currently serves on the Worcester Community Development Advisory Committee. He stopped serving on that committee in 2016. • An Aug. 20 profile on WBJ 40 Under Forty winner Tom Lubelczyk incorrectly spelled the name of the The Carlos Odria Trio. • An Aug. 20 profile on WBJ 40 Under Forty winner Bonnie J. Walker incorrectly said she took over the position of Worcester Polytechnic Institute executive director of diversity & inclusion strategy immediately after rejoining WPI from Boston College. She rejoined WPI as associate director and coordinator of multicultural recruitment and was eventually promoted to executive director of diversity & inclusion strategy in 2016.

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