Worcester Business Journal

wbjournal.com | December 5, 2016 | Worcester Business Journal 3 Editor, Brad Kane, bkane@wbjournal.com Digital Editor, Sam Bonacci, sbonacci@wbjournal.com (Real estate, construction, retail) Staff Writers Laura Finaldi, lfinaldi@wbjournal.com (Manufacturing, energy, technology, higher education, finance, nonprofits) Emily Micucci, emiccuci@wbjournal.com (Health care) Contributors Susan Shalhoub Livia Gershon Research Director, Stephanie Meagher, smeagher@nebusinessmedia.com Research Assistant, Heide Martin, hmartin@nebusinessmedia.com Production Director, Kira Beaudoin, kbeaudoin@wbjournal.com Associate Art Director, Mitchell Hayes, mhayes@wbjournal.com Senior Accounts Manager Matt Majikas, mmajikas@wbjournal.com Custom Publishing Project Manager Christine Juetten, cjuetten@wbjournal.com Marketing & Events Manager Kris Prosser, kprosser@wbjournal.com Events and Sales Assistant Clare Hyland, chyland@wbjournal.com COO, Mary Rogers, mrogers@nebusinessmedia.com Accounting Manager, Valerie Clark, vclark@nebusinessmedia.com Accounting Assistant, Rae Rogers, rrogers@nebusinessmedia.com Collections Manager, Raki Zwiebel, rzwiebel@nebusinessmedia.com Human Resources, Kim Vautour, kvautour@nebusinessmedia.com Publisher, CEO, Peter Stanton pstanton@nebusinessmedia.com Associate Publisher, Mark Murray mmurray@wbjournal.com President, Joseph Zwiebel jzwiebel@nebusinessmedia.com O ur next issue coming out Dec. 19 will be WBJ's special Economic Forecast edition, so this effectively serves as our last regular issue of 2016. While nationally the news was marked by fighting and the typical doom and gloom that comes with the election year, the stories that dominated the Central Massachusetts business community were largely about optimism and growth. If I had to pick two words to summa- rize the year, they would be: restaurants and biomanufacturing. The revitalization of downtown Worcester continued to march forward with the renovations of the Mercantile Center, opening of new hotels and a new urban plan granting the city the power of eminent domain. Of all this development news, what stands out most to me are the number of restaurants opening throughout the city and the region because of the excitement these new establishments bring to the lunch crowd, the business community and economic development initiatives. In August, I got to sit down with Victoria Mariano, who opened a new farm-to- table restaurant in the Bull Mansion, who explained all these new restaurants aren't competitors, but collaborators in creating a robust food scene in Worcester. This year also continued the march of biotechnology and biomanufacturing to become more of an anchor industry to the Central Massachusetts economy. Earlier this year, Travis McCready, the new president and CEO of the Massachusetts Life Sciences Center, start- ed his push highlighting Central Massachusetts as a potential stronghold of biomanufacturing, as the companies developing the technology in Greater Boston look for larger production facili- ties where real estate is cheaper. This vision became even more real in September when McCready and the state selected the Worcester Business Development Corp. to develop a 500,000-square-foot biomanufacturing campus on 44 acres in the city. On top of this, MetroWest companies achieved milestones in their technological research, including BioStage in Holliston obtaining the key orphan drug designation from the U.S. Food and Drug Administration. Of course, 2016 in Central Massachusetts was about much more than biomanufacturing and restaurants. Discover Central Massachusetts found its footing at the main cheerleader for regional tourism. The Hanover Insurance Group got its new CEO, Joseph Zubretsky, who apparently is busy at work with the internal operations of the company, and we look forward to have more in-depth conversations with in 2017. The record $60-billion acquisition of Hopkinton Looking back at 2016 Worcester Business Journal (ISSN#1063-6595) is published bi-weeky, 24x per year, including 5 special issues in April, July, September, November and December, by New Engand Business Media. 172 Shrewsbury St., Worcester, MA 01604. Periodicals postage paid at Worcester, MA. Copyright 2015. All rights reserved. Postmaster: Please send address changes to: Worcester Business Journal, PO Box 330, Congers, NY 10920-9894. Subscriptions: Annual subscriptions are available for $54.95. For more information, please email wbjournal@ cambeywest.com or contact our circulation department at 845-267-3008. Fax: 845.267.3478 Advertising: For advertising information, please call Mark Murray at 508-755-8004 ext. 227. Fax: 508-755-8860. Worcester Business Journal accepts no responsibility for unsolicited manuscripts or materials and in general does not return them to the sender. Worcester Business Journal 172 Shrewsbury Street, Worcester, MA 01604 508-755-8004 tel. • 508-755-8860 fax www.wbjournal.com A division of: NEWS & ANALYSIS DEPARTMENTS 4 Briefing 6 Ticker 12 Focus on Central Massachusetts Power Players 20 The List: Highest-paid executives 21 Know How 22 On the Move 23 Photo Finish 24 Business Leads 25 Opinion 26 Shop Talk: Joe Cox 8 Plan B After its merger with Office Depot fell through in May, Framingham retailer Staples instituted its backup plan to save its financial future. 10 Western expansion Boston provider Steward Health Care believes it has the formula to successfully vie for patients in Central Massachusetts. I N T H I S I S S U E Worcester Business Journal WBJ GREEN SOLUTIONS… ONE SOURCE The company that builds and installs the critical systems in virtually every type of facility is the same company you can rely on to maintain them. For 50 years, our clients have trusted us to provide sustainable, more efficient, greener facilities. We are experts in: Energy Systems and Incentives Building Automation Technologies Sustainable Design and Operation 196 6-2016 196 6-2016 860.871.1111 Toll Free: 800.741.6367 nemsi.com License #'s: E1-104939 • S1-302974 • P1-203519 • F1-10498 • SM1-192 • MC-1134 MECHANICAL • ELECTRICAL • PLUMBING • SHEET METAL • BUILDING AUTOMATION • FACILITIES SERVICES technology firm EMC by Texas-based Dell was finalized, still creating uncertainty in MetroWest, despite Dell's assurances that Massachusetts will be its third hub (after Texas and Silicon Valley). Not every piece of business news this year was positive, and not every year is going to be positive. Yet, when I look back at everything that happened in our local business community in the past 12 months, I can't help but feel the region moving toward a bright future. - Brad Kane, editor W Correction: The story "Military Experience Wanted" from the Nov. 21 issue incorrectly stated that the TechSandBox program for entrepreneurial veterans was solely for clean- tech companies. The program is for veterans who want to start any sort of technology-based company and is not just limited to cleantech.

• Cover