64 Worcester Business Journal | October 28, 2024 | wbjournal.com
35th Anniversary
WBJ
© 2024 Morgan Stanley Smith Barney LLC. Member SIPC.
CRC
CONGRATULATIONS TO
WORCESTER BUSINESS JOURNAL
ON 35 YEARS OF PUBLICATON!
THANK YOU FOR CONNECTING AND STRENGTHENING
OUR BUSINESS COMMUNITY
THE KENARY WEALTH MANAGEMENT GROUP AT MORGAN STANLEY
with companies interested in the city.
"Folks came to the table and said we
have to have a group that's dedicated to
business attraction, retention, speaking to
the business community," Harris said.
MEDC began as a membership
organization but since 2011 has been
funded through a local option excise tax
on hotel rooms administered through the
city. It proved its value in the early 2010s,
helping developer Atlantic Management
transform a former Hewlett-Packard
campus into a mixed-use development
with the help of a city overlay district.
Today, the district is home to big
employers like Quest Diagnostics, smaller
companies, homes, and hotels.
While that project was moving
forward, discount retailer TJX Cos.
bought two office buildings in the city,
and Boston Scientific Corp. moved its
global headquarters there. Like Atlantic's
redevelopment efforts, both these projects
got support through a city tax-increment
financing (TIF) deal, which exempts
companies from some taxes on the
Continued from previous page
Embassy Suites by Hilton is one of 11 hotels in Marlborough.
COURTESY MASS. OFFICE OF TRAVEL & TOURISM
