Worcester Business Journal

www.wbjournal.com April 13, 2015 • Worcester Business Journal 7 $3,900 to the plan, the Labor Department said. Holden Sand and Gravel ceased operations in 2008. NATICK — Convergent Dental has secured $9 million in capital to help bring a dental laser product to market. The funding round for the product, Solea, was led by existing investors Long River Ventures and the Gund Foundation, as well as new individual investors and family offices. The com- pany said the computer-aided laser, approved by the U.S. Food and Drug Administration, "is establishing itself as the go-to tool for many dentists, replac- ing the noise, vibration and needle typically associated with dental visits with a quiet, virtually painless patient experience." M A R L B OROU G H — R X i Pharmaceuticals, which is pushing toward federal approval of its initial products, saw 8.3-percent revenue growth in the final quarter of 2014 while paring its quarterly loss over the fourth quarter of 2013. RXi, which is seeking approval of a drug that would reduce the formation of post-surgical scars, lost $2.76 million during the quarter on revenue of $1.56 million. In the fourth quarter of 2013, the compa- ny brought in $1.44 million in revenue and lost $3.72 million. For the full year, RXi brought in $5.68 million in reve- nue, down nearly 68 percent over 2013. Net losses decreased substantially, from $29.5 million in 2013 to $12.93 million last year. NORTH BROOKFIELD — North Brookfield Savings Bank has received approval from a federal agency to underwrite and service government- backed loans to family farms in Worcester and Hampshire counties. The bank, which operates in the Brookfields, Ware, Palmer and Belchertown, has secured "standard eli- gible lender" (SEL) status from the U.S. Department of Agriculture's Farm Service Agency for Massachusetts, the agency said in a statement. The SEL program admits lenders with experi- ence in making and servicing farm loans, but which have little or no previ- ous experience with guaranteed loans from the Farm Service Agency (FSA), the statement noted. FRAMINGHAM - !e Planning Board has approved plans for Chick-fil-A the to build a restaurant between routes 9 and 30, adjacent to Kohl's. Sandwiched between the two roads in the Shoppers' World plaza, construction is expected to begin this summer with an opening planned for early 2016, according to company spokeswoman Brenda Mor- row. !e privately-held fast-food chain wants to add up to 10 new locations in New England, including Hyannis and Seekonk, Morrow said. Chick-"l- A opened its "rst Central Massachu- setts location last year in Westborough on the eastbound side of Route 9. Businesses grabbed more office space along Route 495 in the first quarter of the year, while more space became available in Framingham, Natick and four surrounding communities, accord- ing to a Boston-based commercial real estate agency. Vacancy rates in the Route 495 west area, which covers a span along the interstate highway from Acton and Ayer to Milford, fell to 20.7 percent from just under 22 percent in the fourth quarter of last year, accord- ing to Newmark Grubb Knight Frank, which released aggregate market data for all of the Greater Boston area out to Route 495. Newmark Grubb said ask- ing rents in the 495 west area also rose during the quarter, to $20.08 per square foot, marking a 2-percent jump over the first quarter of 2014, and 4 percent from the start of 2013. Confidence among Massachusetts business owners climbed in March to a level not seen since 2005, according to the Associated Industries of Massachusetts (AIM). AIM's monthly Business Confidence Index recorded a 60.2 on a 100-point scale (50 is neu- tral). This marks a 0.4-point increase from November and 9.1 points above the index's March 2014 reading, accord- ing to AIM. "We have had a 10-point gain over the past 13 months as employ- ers shed much of their post-recession caution, bringing increased job cre- ation and business investment here in Massachusetts," Raymond G. Torto, chairman of AIM's board of economic advisors, said in a statement. "The slowdown (that was) apparent in the most recent employment report clearly is not perceived as a significant threat to growth." State tax revenue collections were up $132 million over benchmarks through March, the Department of Revenue announced, as officials took a respite from planning for an estimated $1.8-billion budget deficit. Facing a mid-year budget gap estimated at $765 million earlier this year, lawmakers passed a corporate tax amnesty pro- gram, which they expected would raise $18 million as businesses avoid fines on back taxes. The program, which runs March 16 through May 15, is so far underperforming. Through the end of March, DOR received $163,000 from 281 participants, which is only a frac- tion of the $3.6 million estimate for amnesty collections in March. Q Central Massachusetts' Source for Business News For information on how to get your company's message in front of the region's business leaders, contact: Mark Murray, Associate Publisher • 508.755.8004 x227 • mmurray@wbjournal.com Your business deserves a powerful presence in Central Mass. www.wbjournal.com UPCOMING ISSUES April 20 Business Profiles April 27 Education: MBAs & Workforce Development May 11 Central Mass. 100 May 25 Entrepreneurship Small Business June 8 Family Business Awards June 22 Regional Focus: Worcester July 6 Book Of Lists July 20 Life Sciences August 3 Business & Public Policy August 17 Education August 31 40 Under Forty REGIONAL BRIEFS >> Continued from Page 5

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