Westborough is a Hot Market for Business Growth
WESTBOROUGH _ On Friday, December 1, 2017, the Westborough Economic Development Committee (EDC) welcomed nearly 200 elected officials, municipal, business, and community leaders, for the 2017 Year in Review Fourth Annual Celebratory Event, recognizing the regional economic impact of the Westborough EDC and honoring thirteen local businesses and organizations. The event was held at the DoubleTree by Hilton Hotel Boston-Westborough, located at 5400 Computer Drive in Westborough.
Westborough EDC Chairman, Deborah Penta, CEO of PENTA Communications, Inc., welcomed attendees and provided an overview regarding the forward movement that took place in 2017. “The Westborough EDC assisted in the sale and acquisition of more than 1.8 million square feet in commercial or industrial space. This contribution to the Westborough economy has added $125 million to our local tax base between January and December of 2017. These expansion projects have increased the Westborough labor force significantly, adding nearly 600 new jobs, and the EDC was also involved in retaining more than 2,500 jobs in Westborough and we project an additional 1,500 new jobs in the upcoming years, just based on the data we currently have today.”
Penta also noted that Westborough is a Google Community, a Bio-Platinum Ready Community, and has been touted by Family Circle and Money Magazine as one of the best places to live in the United States, and it has received the highest reviews from Boston Magazine and other media for its outstanding school system.
Keynote Speaker, Lieutenant Governor Karyn Polito, commended the Westborough EDC’s tireless efforts to spearhead renewed economic vitality within the community, the effects of which have rippled throughout the region.
“To see the EDC in reality, working to really benefit not only Westborough, but this region is really encouraging, but not surprising to me. You’ve got a top-notch leadership team here in this community that’s always thinking about your future. With the changes in the economy and a lot of movement towards the city of Boston, we’ve had to rethink and reimagine what this area, this Commonwealth, should be like and what you need to do in order to reprogram, repurpose, reposition this area of the Commonwealth. You’ve done this quite well. I see so many of the same people who were here 10, 15, 20 years ago, which is another asset that you have. That people stay in this community. People who live here, their children are still here. People who worked here still live here and there are generations of family businesses. These are assets that are real and strong, and they are yours. To be able to reposition and market with the incredible skills of Deborah Penta what Westborough today and in its future should be for new businesses, startup companies, large and small enterprises to want to come here is really important,” said Lt. Governor Karyn Polito.
Thirteen Westborough businesses and organizations were honored in twelve different award categories, in recognition of their outstanding achievements within the local community:
- Best Expansion Project: Signature Healthcare
- Driver for Business Growth: Curry Printing
- Public-Private Partnership: E.L. Harvey & Sons, Inc.
- Leader in Development: United Site Services
- Employee Attraction: BJ’s Wholesale Club
- Westborough Foodie: Sapporo Korean BBQ & Sushi Restaurant
- Sustainable Business: AAFCPAs
- Innovation: EMSEAL Joint Systems, Ltd.
- Excellence in Community Design: WDA Design Group
- Company to Watch: Atlantic Management Corporation
- Westborough New Small Business: Westborough Cork & Grain
- Civic Pride: 300th Anniversary Committee
- Civic Pride: Westborough Garden Club Downtown Beautification Committee
“Businesses in Westborough employed two to three times the amount of people who live in Westborough. Throughout the depression we just had, Westborough had an unemployment rate of one-third to one-fourth of what the national unemployment rate was. Right now it hovers between two and a half and three percent. During the height of the depression, it never went above 5%. That’s astounding at a time when the entire country was struggling so mightily,” said Westborough Town Manager Jim Malloy.
Malloy disclosed that Astellas Institute for Regenerative Medicine would move to Westborough and invest $80 million in converting an office building into a pharmaceutical research and development facility. The company plans to employ between 200 and 300 workers.
The Westborough EDC extended special gratitude to presenting sponsor Avidia Bank and to supporting sponsors AAFCPAs; Bowditch & Dewey, LLP; Carruth Capital, LLC; James N. Ball & Company, Inc.; Middlesex Savings Bank; PENTA Communications, Inc.; and WDA Design Group, for their support of this annual celebration.
“Today, we are so excited to celebrate the success and achievement of our Westborough commercial base, the Town’s ongoing economic growth, and most importantly to recognize the many businesses that are making such a huge economic impact here in Westborough,” said Westborough EDC Chair Deborah Penta.
The Westborough Economic Development Committee (EDC) was formed from Article 4 of a Special Town Meeting on October 20, 2008. The EDC’s primary purpose is to promote business development in the Town of Westborough, aid the Board of Selectmen regarding economic development policy, and work cooperatively with businesses and state agencies to retain current businesses and attract new business and development to the Town of Westborough. The Committee is comprised of town officials and four appointed business leaders from companies in the Town of Westborough.
# # #