Worcester Business Journal

April 15, 2024

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wbjournal.com | April 15, 2024 | Worcester Business Journal 3 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 2023. 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 $84.00. For more information, please email circulation@wbjournal.com or contact our circulation department at 845-267-3008. 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 Worcester Business Journal WBJ A division of: industry to remain permanently dimin- ished. Even if the cottage industry around moviemaking never grows to another more than just that, it's still plenty of fun to have around. – Brad Kane, editor W ho doesn't love movies? e glitz, the glamor, seeing familiar faces and places on the big screens. Even a bad movie can still be plenty of fun. Well, the Central Mass. economy isn't a big fan. Sure, the region's business community loves movies just as much as anyone, but the industry just doesn't have much of an impact here. In 2017, the industry created 1,153 full-time equivalent jobs throughout all of Mass., according to a study from the state Department of Labor. at's less than 10% of the 16,352 employed by UMass Memorial Health just in Central Mass. By 2022 (a high water- mark year for Worcester moviemaking), the Motion Picture Association put the statewide number at 4,350 direct jobs, but that's a quarter of what one company in UMass Memorial employs in just this re- gion, in the region's third largest industry. Still, though, none of that really matters when you see a Worcester location pop up in a movie or spot celebrities walking around the city. Even in the business world where practically everything is judged by dollars and cents, the mystic around films transcends their economic impact. A decade has passed since actor Jennifer Lawrence shot scenes in Worcester for "American Hustle" and Worcester Mag- azine is still writing stories about it. Yet, this magical industry in Central Mass. has hit an impasse, as Staff Writer Eric Casey details in his "HollyWoo pro- duction, halted" on page 12. anks to the film tax credit and the momentum of films like "American Hustle," a cottage industry has popped up in Central Mass., support- ing moviemaking with props, crew, and a sound stage. In 2022 and 2023, Worcester saw 16 movies shot in the city, more than all previous years combined. at fell off a shelf in 2023 when Hollywood writers and actors went on strike, stopping production everywhere. Production has not returned to the same levels, including in Central Mass., as another potential work stoppage might impact the industry moving forward. If filmmaking never returns to the same levels in Central Massachusetts or if the in- dustry comes roaring back in the next year or two, the region's economy will barely feel it. Regardless, it would be sad for the e magic of moviemaking T A B L E O F C O N T E N T S 4 Central Mass. In Brief 14 Focus on Health Care & Life Sciences 19 List: Life sciences and biotech companies 21 List: Top NIH grant winners 22 Guest column: Bob Martel 23 Know How 24 Movers & Shakers 25 Opinion 26 Shop Talk: NORESCO 14 Preventing type 1 diabetes UMass Chan researcher is developing a treatment for a skin disease, which could provide insight into prevention of the less prevalent form of diabetes. 18 How Greater Worcester small business owners can find success in 2024 Know How advice columnists Stephanie Martin and Chris Hudach from Bank of America offer three straightforward tips for companies to get on the proper footing. W Correction: In the Movers & Shakers column in the April 1 edition, the photo accompanying the entry for Dinah Olanoff from Fallon Health incor- rectly identified her as Nikole Nolle. Editor, Brad Kane, bkane@wbjournal.com Staff Writers Eric Casey, ecasey@wbjournal.com (real estate, manufacturing) Mica Kanner-Mascolo, mkannermascolo@wbjournal.com (health care, diversity & inclusion) Contributors Giselle Rivera-Flores, Laura Finaldi, Monica Benevides, Alan Earls, Susan Shalhoub, Livia Gershon Photgraphers Matt Wright, Edd Cote, Christine Peterson Research Director, Stephanie Meagher, smeagher@nebusinessmedia.com Research Assistant, Heide Martin, hmartin@nebusinessmedia.com Production Director, Kira Beaudoin, kbeaudoin@wbjournal.com Art Director, Mitchell Hayes, mhayes@wbjournal.com General Manager Kris Prosser, kprosser@wbjournal.com Senior Accounts Manager Christine Juetten, cjuetten@wbjournal.com Accounts Manager Timothy Doyle tdoyle@wbjournal.com Human Resources Manager, Tracy Rodwill, trodwill@nebusinessmedia.com Director of Finance, Sara Ward, sward@nebusinessmedia.com Accounting Assistant, Rae Rogers, rrogers@nebusinessmedia.com Account Receivable Specialist, Patty Harris, pharris@nebusinessmedia.com Director of Audience Development and Operations, Leah Allen, allen@nebusinessmedia.com Business Office Assistant, Nicole Dunn, ndunn@nebusinessmedia.com Publisher, CEO, Peter Stanton pstanton@nebusinessmedia.com Associate Publisher, Mark Murray mmurray@wbjournal.com President, Tom Curtin tcurtin@hartfordbusinessjournal.com

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