Worcester Business Journal

wbjournal.com | July 24, 2017 | Worcester Business Journal 7 Crompton Collective opening Hudson location Worcester craft and antique boutique Crompton Collective will open a second location in August in Hudson. The new store will be called Haberdash, named after the original mobile store run by Founder Amy Lynn Chase in 2009, which was the precursor to Crompton Collective in 2012. With the expansion into the new 730-square-foot location, Chase expects to hire two more employees to serve the two stores, bringing her to nine total employees, all of whom are part time. The $850-per-month lease on the Hudson space runs for two years, with an option for three more years. Haberdash will be more gift and clothing oriented than Crompton, said Chase. Hopkinton tobacco seller sentenced for tax evasion A Hopkinton man who ran what authorities said was a multimillion-dol- lar tax-evasion scheme has been sen- tenced to a year and one day in prison. Raza Ali, 56, was sentenced July 14 by a U.S. District Court judge in Boston for evading federal income taxes and defrauding the state of millions of dol- lars in connection with the sale of ciga- rettes and other tobacco products. Ali must pay $28 million in restitu- tion to the state, as well as a $30,000 fine, and forfeit all property involved in the scheme, including a warehouse full of tobacco products and more than $160,000 seized during the investiga- tion. He pleaded guilty last year after he was arrested with two others in December 2015. LCU assets reached $643M in 2016 Assets increased by 3 percent in 2016 at Leominster Credit Union, which is currently ranked as Massachusetts' 13th largest nonprofit financial institution. Assets grew from $627 million in 2015 to $643 million last year, the credit union announced Thursday. Loans increased from $419 million to $440 million and deposits grew from $436 million to $454 million. Amy Lynn Chase, founder and owner, Crompton Collective 50 WATER STREET | WORCESTER Discover the Next Up-and-Coming Event Market! SEE AMAZING VENUES! Hogan Center College of the Holy Cross DCU Center Arena & Convention Center Mechanics Hall Beechwood Hotel and Conference Center Hanover Theatre Worcester Art Museum RSVP (Space is limited, reserve today.) Stephanie Ramey | sramey@discovercentralma.org | 508.753.1550 Invitation open to professional meeting and event planners. Overnight accommodations provided upon request. Join Discover Central Massachusetts for a tour of Worcester and experience the renaissance for yourself! From major conventions to corporate retreats, Worcester offers the perfect venue for your clients – in a central location. Exclusive Invitation for Event and Meeting Planners! SELECT A DATE 9 am – 3:30 pm Thursday August 3, 2017 – or – Thursday August 17, 2017 www.discovercentralma.org State-of-the-Art Function Facilities | Top Notch Dining Brand New Hotel Properties | Cultural Attractions Parking & Accessibility | Tremendous Value Milford drugmaking facility expanding Avecia, a pharmaceutical manufac- turer in Milford, says it is building what will become the largest manufacturing site in the world for a specialized drug ingredient called oligonucleotide. The expansion, which will add 20,000 square feet of space, will more than double the Milford site's total capacity, the company said in an announcement Thursday. Oligonucleotide, a type of acid poly- mer, is used in a range of drugs, includ- ing to treat cancer. Avecia makes such pharmaceuticals for other biotech, medical device and pharmacy firms. Avecia plans to mark the opening of the facility with a ribbon-cutting cere- mony Aug. 2. Avecia has about 220 employees in Milford after adding more than 120 jobs in the past 12 months. Source: WalletHub Best place to start a business WalletHub ranked Massachusetts as the 18th-best state to start a busi- ness, with the most educated residents in the country but with high busi- ness costs, according to a new report from the California-based research organization. Here's a snapshot of the rankings. 1. North Dakota 2. Texas 3. Utah 18. Massachusetts 20. Vermont 37. Maine 44. Connecticut 47. Rhode Island 49. New Hampshire 50. New Jersey W

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