4 Business Profiles 2016 Worcester Business Journal www.wbjournal.com
D
epending on the source, you might get the impression that the Massachusetts
economy is in desperate need of repair. The Forbes list ranks the
Commonwealth No. 18, due to high taxes, and high labor, energy and
housing costs. On the flip side, the New England Economic Partnership
reports that the state has posted "…impressive gains in employment, wages,
and consumer spending, outpacing the nation as a whole."
According to the report, the unemployment rate in Massachusetts dropped to 4.5
percent, which is below the national average of 5.4 percent. Also, growth in wages and
subsequent increased consumer spending bodes well financially for the state.
Massachusetts ranks third when it comes to quality of life, thanks to its top-notch
colleges and universities – the Higher Education Consortium of Central Massachusetts
represents 12 member universities and colleges in the Greater Worcester area – numerous
opportunities for cultural, artistic and recreational activities and a strong hospital network
system.
If you ask any of the businesses spotlighted in Worcester Business Journal's 2016 Business
Profiles issue, they would agree with the overall positive economic outlook. The theme of
growth runs throughout each profile, regardless of industry. From financial institutions,
technology firms and service businesses to fitness companies, solar enterprises and
hospitality venues, revenue, staff, products/services and clients reflect an upward trend.
Readers will be familiar with some of the businesses profiled in this year's edition. As
usual though, there are some new and exciting enterprises included. Niche Hospitality's
Michael Covino goes back to his physical therapy roots with the launch of a state-of-the-art
fitness performance training center and a Framingham-based company provides top brand
fitness equipment and service to all customers, including many professional athletes.
A Nichols College graduate brings his business skills to a successful IT services company,
while the locally known Protector Group highlights its acquisition by the Marsh &
McLennan Agency. And, an environmentally aware and enthusiastic team is focusing its
experience, education and skills on developing sustainable housing in the region.
While some challenges remain, the Central Massachusetts economy is generally stable.
The Worcester Business Journal offers kudos for continued success and sustained growth to
all the businesses that contribute to this positive fiscal climate.
n
Phyllis Hanlon
Project Editor, Business Profiles
BUSINESS
April
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Worcester Business Journal (ISSN#1063-
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