Worcester Business Journal

wbjournal.com | Fact Book 2017 | Worcester Business Journal 49 202 Brigham St., Northborough, MA • 508-393-2444 For Tee Times: www.juniperhillgc.com Juniper Hill Golf Course Celebrating Over 85 Years of Golf • Friendly Atmosphere • Two well groomed, established courses • No membership fees • 36 Challenging Holes • Top 10 Public Golf Course in Massachusetts • Golf Teaching Center Call us at 508-351-9500 Give the gift of golf Gift certificates for golf, lunch, lessons and equipment are available in the Pro Shop 508-393-2444 Outings & Functions 3 to 300 guests in a variety of settings Saint Vincent Hospital, Worcester 10.20% Marlborough Hospital 8.20% HealthAlliance Hospital, Leominster 3.40% Heywood Hospital, Gardner 3.20% Athol Memorial Hospital 3.00% Steward Nashoba Valley Medical Center, Ayer 2.50% UMass Memorial Medical Center, Worcester 2.30% Metrowest Medical Center, Framingham and Natick -0.60% Milford Regional Medical Center -0.70% Clinton Hospital -9.50% Operating margins for acute hospitals in Central Mass. Central Mass. Hospitals averaged a 2.65% total operating margin in FY '16, down from 3.8% in FY'15 Source: Mass. Center for Health Information and Analysis (Notes: In 2012, Heywood and Athol Memorial hospitals merged their administrative functions in a cost-savings move. In 2017, HealthAlliance and Clinton hospitals merged.) the buzz UMass Memorial and other healthcare organizations are creating in Worcester and beyond. With new IT offices on Front Street in downtown Worcester, UMass Memorial has added 500 employees to the downtown daily foot traffic in the last year, as new apartments aimed at working profes- sionals are being built across the street, creating the potential for employees to live and work downtown. Meanwhile, Dickson noted retail and residential redevelopment is happening on the Worcester-Shrewsbury line, right near the UMass Memorial's University Campus and the University of Massachusetts Medical School. At the same time, Dickson sees an opportunity to grow the UMass Memorial work- force even more, by investing in pro- grams to entice more people to seek high-level care in Worcester instead of Boston. A wealthy workforce Healthcare salaries tend to be rela- tively high, creating tax revenue for communities where employees buy more expensive homes. The average, full-time UMass Memorial nurse earns more than $100,000 annually, Dickson noted. "These are really good jobs in medi- cine that can really have an impact locally," Dickson said. In addition to tax revenue, growth of healthcare organizations is a major source of work for the construction industry. Reliant Medical Group, the Worcester multispecialty physician organization with locations throughout Central Massachusetts, is in the midst of building out new, expanded offices in multiple locations, as old leases are set to expire and space needs change. Steve Knox, Reliant's chief operating officer, said the organization strives to divide the work up among multiple contractors, being cognizant of provid- ing work for local trade labor groups. "We've tried very hard to work with the local unions," Knox said. Health care does more than generate dollars that stay in the community. It also drives innovation. A biomedical corridor Higher education, another top indus- try, is intertwined with the medical sec- tor in the Worcester area, creating a breeding ground for research and development and biotechnology start- ups. Kevin O'Sullivan, president and CEO of Massachusetts Biomedical Initiatives Inc. in Worcester, called the stretch from Boston to Worcester a burgeoning biomedical corridor, as startups from all over the country seek space here, knowing the access to talent and resources available to the industry here. Worcester is especially attractive because rent is cheap, he said. "We have the trained workforce on all fronts," O'Sullivan said. "We clearly are competitive and affordable." As healthcare's presence in downtown Worcester proliferates, officials are tak- ing notice. Robert Coughlin, president of the Massachusetts Biotechnology Council, visited the city half a dozen times this fall, O'Sullivan said. "He sees us as a growing entity," O'Sullivan said. W I N D U S T R I E S H e a l t h C a r e

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