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In December 2023, the WBJ Editorial staff made 10 bold predictions for news events to happen in Central Massachusetts throughout the year. Turns out, we missed the mark on all but two.
Although both sides, particularly UMass Memorial, discussed this as a possibility as Heywood struggled financially, the Gardner-based health system righted its ship through bankruptcy and remains an independent health system. Elsewhere, UMass Memorial did merge with Milford Regional Medical Center.
[Related: Check out the WBJ newsroom's predictions for 2025.]
Oh boy. We couldn’t have been more wrong about this one. Not only did commissioners make an offer to David Lakeman, a former CCC official who runs a similar agency in Illinois, but a WBJ investigation found Hilton-Creek was a major contributor to a toxic work culture at the CCC impeding the growth of the entire industry. Lakeman turned down the offer, so technically Hilton-Creek still could get the job, but a legislative overhaul of the agency is much more likely.
The industry is still right-sizing itself after its rapid expansion in the wake of COVID-19, and a few companies laid off dozens of employees: Marlborough-based Sumitomo Pharma America laid off 53, and Marlborough-based Hologic is closing a plant in Connecticut, resulting in 86 layoffs. Yet, large-scale layoffs never happened at Central Massachusetts life sciences firms.
Through November, boardings at Union Station were estimated at 478,000 for 2024, up from 441,000 over the same period in 2023, according to the Massachusetts Bay Transportation Authority.
This could turn out to be true, but it will take more time, since the City of Worcester took longer than expected to find the right person. Kevin Lovaincy from Quinsigamond Community College started in the remade role of chief equity officer at the end of October. Lovaincy was already hit with his first major crisis: helping the City respond to a scathing U.S. Department of Justice report about alleged wrongdoings of the Worcester Police Department.
Amazon decided to activate this facility ahead of the busy holiday shopping season, officially opening the new location on Oct. 16.
The legal marijuana industry remains highly competitive, with a significant number of businesses and dropping prices. While a handful of small cannabis businesses did close, no major chain called it quits in this region.
The impact of lower interest rates wasn’t felt until the second half of the year, but it was enough to reverse the trend of falling sales. Through November, 2024 single-family home sales were up 0.1% in Worcester County and 4.2% in Middlesex County, according to Peabody-based real estate data provider The Warren Group.
Although bold, this seems like a safe prediction a year ago, as private school attendance figures have been stagnant and schools were adjusting their business models. Yet, all the private schools open at the end of 2023 were still open at the end of 2024.
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Worcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
Worcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
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