May 24, 2021 - Worcester Business Journal

News

🔒In the year since George Floyd’s murder

The aftermath of the Minneapolis police murder of George Floyd, an unarmed Black man, on May 25, 2020, brought pledges from Central Massachusetts business leaders to work to address institutional racism in society, as well as examine their own cultures relative to diversity, equity, and inclusion.

Government & Politics

🔒As city leaders seek to attract more investment in Worcester, they boast of its advantages

Strong fundamentals, committed leadership, anchoring institutions, vibrant culture, and untapped potential: Bo Menkiti’s five reasons for why Worcester, why now.

Education

🔒Worcester’s colleges have fostered a startup ecosystem to help students become business owners

When Becker College in Worcester announced it will be closing its doors in August, the Massachusetts Digital Games Institute had a big question to answer. The statewide center for video game entrepreneurship, known as MassDiGi, had been based at the college since its start a decade ago. Where would it go now?

Arts & Entertainment

🔒Cultural leaders see Worcester’s arts scene thriving with collaboration and optimism

Even in the coronavirus pandemic, the heart of Worcester and its cultural and arts institutions are optimistic and committed to supporting and growing the community.

Arts & Entertainment

🔒Worcester developers see new high-profile projects attracting more interest

As Worcester grows, so does its appeal to investors and developers.

Government & Politics

🔒MassDevelopment fosters community connections to help Worcester overcome unique challenges

State economic-development agency MassDevelopment – which provides financing solutions such as low-interest loans and tax credits to developers, businesses, nonprofits and communities – has been a major player in Worcester’s urban growth initiatives.

Diversity & Inclusion

🔒Racial discrimination in mortgage lending has created a segregated Worcester

Worcester, like cities around the rest of the country, is in the midst of a cultural reckoning.

Diversity & Inclusion

🔒Poor neighborhoods with diverse populations struggle to sustain economic development

Downtown Fitchburg has struggled to attract new growth when so many people are following jobs to more prosperous areas or finding affordable areas elsewhere.

Advice

🔒Saying goodbye to beloved employees

As an employer, it is hard to prepare when you lose an employee who you value and care for.

Advice

🔒4 Things I know about … non-PPP small business lending options

The COVID-19 pandemic shutdowns had a drastic impact on many small businesses. Two rounds of Paycheck Protection Program loans provided critical support, but in early May, the funding dried up for most.

Advice

🔒SEC increases crowdfunding limits for entrepreneurs

But despite all the gloom, the U.S. Securities and Exchange Commission delivered good news in November, when it voted to approve increasing the amount entrepreneurs can raise using investment crowdfunding platforms. The new rules went into effect in mid-March.

Advice

🔒101: Peer Coaching

One-to-one coaching isn’t the only kind of executive coaching out there. Peer coaching – where groups of colleagues work together to reflect on problems or practices, build new skills and teach and mentor one another – comes with unique workplace benefits.

Banking & Finance

Movers & Shakers for May 24, 2021

Central Massachusetts professionals are taking new jobs and getting promoted at companies like Estate Preservation Law Offices, Avidia Bank, AdCare Hospital and Banjo Health.

Opinion

🔒Phishing is the worst thing for your business. Just ask Colonial Pipeline.

We learned a few things from the Colonial Pipeline ransomware attack: fuel travels at 5 mph, and despite the FBI’s advisory against paying cybercriminals, Colonial’s vast 5,500-mile infrastructure for moving fuel couldn’t wait.

News

🔒Many brave choices led to Worcester’s seminal Red Sox moment

All the attention this spring around the arrival of WooSox has been a win for Worcester. That victory, though, was set up by a long line of brave innovators who took a chance and reinvented the Canal District into one of the hottest development zones around.

Opinion

🔒A Thousand Words: Minority cannabis entrepreneurs’ investor burden

Banking & Finance

🔒Q&A: Devens fusion firm strives to achieve $1B world-altering breakthrough

Over the next year and a half, Commonwealth Fusion Systems is building a $300-million, 47-acre headquarters in Devens, in its $1-billion, long-term effort to make fusion the default energy source on Earth

Banking & Finance

🔒Rich dreams, poor dreams: Racial discrimination in mortgage lending is holding communities down

This five-month investigation by Worcester Business Journal and Worcester Regional Research Bureau dives into how racial discrimination in mortgage lending and home ownership creates neighborhoods of have's and have-not's in Greater Worcester, where educational and economic success is harder to achieve.

Government & Politics

May 24, 2021Edition

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