Worcester Business Journal

6 Worcester Business Journal | March 10, 2025 | wbjournal.com Laughlin most recently served as chief operating officer for Indi- ana-based lighting equipment manu- facturer Group Dekko. Look has previously served as chief information officers for North Carolina-based pumping equipment company Hayward Holdings, while Jon-Michael Raymond comes to L.S. Starrett from Wisconsin-based sorbent manufacturer FyterTech Nonwovens, where he served as glob- al sales and marketing senior vice president. "The other newly created positions of Global Chief Information Officer, Chief Revenue Officer, and Chief Operating Officer will position L.S. Starrett for the future as we continue to make significant investments in people, processes, and resources to grow and perform as the best tool makers in the world," Paterson wrote. The new executives will be based out of Starrett corporate headquar- ters in Athol. They will focus on continuous im- provement, growth and innovation, according to the press release. Continued from previous page Boston Scientific to acquire Israel hypertension tech firm for up to $540M Marlborough medical device manufacturer Boston Scientific has entered into a purchase agreement worth up to half a billion dollars to acquire SoniVie, an Israel-headquar- tered medical device company with a focus on hypertensive disorders. With the acquisition, Boston Sci- entific will add SoniVie's TIVUS: an intravascular ultrasound system that cuts off the nerves surrounding blood vessels to treat high blood pressure. The investigational catheter-based technology is used during a procedure called renal artery denervation, which minimizes activity in the renal nerves of the kidney, according to the release. Boston Scientific is a current in- vestor in SoniVie, with a 10% equity stake. With the acquisition, Boston Scientific will pay $360 million upfront for the remaining 90% stake and up to an additional $180 million once specific regulatory milestones are met. The company anticipates to com- Our newest full-service branch is now open across from Polar Park! Stop by for all your personal and business banking needs Polar Park Branch NOW OPEN! 1 Green Island Boulevard Worcester, MA 01610 508-556-7775 www.unibank.com Member FDIC • NMLS #583135 Give tax breaks to small businesses After six years in business, Worcester craft brewery Redemption Rock Brewing per- manently closed its doors on Dec. 29. In the wake of its closure, CEO Dani Babineau said the City of Worcester could be doing more to support small businesses. Brian Treitman expressed a similar sentiment when he announced he would close his B.T.'s Fried Chicken & BBQ in Worcester after the influx of chain restaurants in the region in part had forced him to close up shop. Local governments will often offer property tax breaks to businesses and new property developments in an effort to spur economic growth. Nearly all these tax breaks go to large corporations and companies with the connections and resources to advocate for a reduction in their taxes. When polled online, the majority of WBJ readers said local governments should have programs for small businesses to receive property tax breaks. Should Central Massachusetts' local governments establish a program to provide property tax breaks to small locally-owned businesses or their landlords? 56% Yes, tax breaks would ease the burden for small businesses. Yes, landlords would be incentivized to find small businesses to fill their spaces. No, tax breaks should be reserved for large companies with significant economic impact. No, governments shouldn't give tax breaks to any businesses. 20% 5% 18%

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