Worcester Business Journal

www.wbjournal.com January 4, 2016 • Worcester Business Journal 5 Worcester kindergartners and start them off with an initial $50, an effort planned to eventually expand statewide. Goldberg is visiting Worcester on Monday to announce the college savings program, dubbed "$eedMA," at the Jacob Hiatt Magnet High School. Through the program, each kindergar- tener in the city's public schools will receive a commitment of $50 to a "529" college savings account at the start of the next school year. The $50 initial deposit is intended to "help jump start families" as they make their own contributions to the account, according to a fact sheet from Goldberg's office. Earnings in the account grow tax- free, and each account can hold a maxi- mum of $375,000 per beneficiary. Chamber: Tax rate hurts business recruiting Following a disappointing vote that halted five years of moving towards a single tax rate, Tim Murray said the Worcester Regional Chamber of Commerce will continue to encourage businesses to locate in the city, but the job will be tougher. "The vote going opposite the way we have been going the past five years, it makes it more difficult to make the case why an employer should be here," said the chamber's president and CEO the day after the vote. "The policy we had been on for the last five years had impacted people in a minimal way, but it sent a signal to the business community that the city was pro-growth." The vote marked a move towards more of the tax burden being carried by the city's businesses, Murray said. The vote Tuesday set the residential tax rate at $20.61 per $1,000 of valuation and the commercial-industrial rate at $33.98. This was in contrast to rates of $20.99 and $33.04 that had been endorsed by the chamber. Under the final business rate, the city's median commercial-industrial property of $275,300 will see a tax increase of $638. This hits hard in a community that relies on its small and mid-sized busi- nesses for growth, Murray said. Anna Maria, QCC offer $40K degree It has just become more affordable for those seeking a career in service-orient- ed fields such as firefighting or social work to get a bachelor's degree as Anna Maria College and Quinsigamond Community College announced a $40,000 transfer initiative in December. The Higher Education and Active Responsiveness through Transfer (HEART) program allows students to take two years of classes at QCC and then transfer to Anna Maria in their junior year. The cost for the entire degree for the earned associates and bachelor's degrees is capped at $40,000. The program focuses on majors linked to public service. They include criminal justice, fire science, human services and Productions Revelation Creative & Technical Event Services Revelation Productions offers brilliant technical and creative services that are seamlessly orchestrated, resulting in an exceptional event for you and your audience. • Audio • Video • Lighting • Event Management • Staging and Scenic Design • Temporary Power Distribution Preview our portfolio of corporate events and gala affairs online at revprod.com www.revprod.com 14569_WBJ_9x6_Ad.indd 1 2/10/15 4:54 PM >> Continued from previous page REGIONAL BRIEFS REAL DEALS Real Deals highlights recent commercial property transactions in Central Massachusetts. Commercial real estate firms that want to submit information on transactions can send it to editorial@wbjournal.com. Source: Kelleher & Sadowsky Associates ADDRESS: Laurel Hill Apartment Complex, 11 Whitney Circle and 1-17 Temple St., Auburn AREA: 10,000 sq. ft. SALE PRICE: $4 million SELLER: Laurel Hill Realty Inc. BUYER: Micozzi Management — Compiled by Sam Bonacci, Worcester Business Journal Digital Editor This four building complex of 44 units garnered a great deal of attention when it was sold, receiving multiple bids for the property. The apartment complex consists entirely of two-bedroom, one-bath units and was fully occupied at closing. social work degrees. Becker names David Jordan director of social business center Becker College has named Seven Hills Foundation President and CEO David Jordan as the first director of a new center that will focus on how business can iden- tify and solve social problems, the Worcester school announced Wednesday. Jordan, who sits on the Becker board of trustees, will be the inaugural director of the Yunus Social Business Centre @ Becker College. He will receive no com- pensation for his services and expertise. The center will be the first of its kind in the United States. It is named for Muhammad Yunus, a Bangladeshi econ- omist and social entrepreneur who pio- neered the concept of social business, using micro-finance to help the world's poor develop self-sustainable businesses. Yunus won the Nobel Peace Prize in 2006, UMass Memorial posts 2015 revenue, patient growth UMass Memorial Health Care posted continued revenue growth through fis- cal 2015 while reporting more patients served throughout a system that is mov- ing more towards outpatient care. >> Continued on next page

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