Day: June 28, 2022

Nominations Sought for Super 60 Program

By
Daily News Hampshire County Super 60

SPRINGFIELD — The Springfield Regional Chamber (SRC) is seeking nominations for its annual Super 60 awards program. Super 60 recognizes the success of the fastest-growing and privately owned businesses in the region. Nominations must be submitted by August 5.

Each year, Super 60 identifies the top-performing companies in this region, based on revenue growth and total revenue. In 2019, one-quarter of the Total Revenue winners exceeded $30 million, with all the winners combining for more than $720 million in revenue. In the Revenue Growth category, all winners had growth above 21%, and 50% of the top 30 companies grew by more than 50%.

“Small businesses are the backbone of our region and have been especially resilient throughout the pandemic,” said Springfield Regional Chamber President Diana Szynal. “We’re thrilled to bring this awards program back to honor our region’s businesses and recognize their successful navigation through the past two years.”

To be considered, companies must be independently and privately owned; based in Hampden or Hampshire counties or be a member of the Springfield Regional Chamber; have revenues of at least $1 million in the past fiscal year; and have been in business for at least three full years. Companies are selected based on their percentage of revenue growth over a full three-year period or total revenues for the latest fiscal year.

Companies may be nominated by financial institutions, attorneys, or accountants, or they can self-nominate. Along with an application, nominators must provide net operating revenue figures for the last three full fiscal years, signed and verified by an independent auditor. All financial information must be reported under generally accepted accounting principles and will be considered confidential.

Nomination forms can be found on the Chamber’s website and can be submitted by faxing to SUPER 60, Springfield Regional Chamber, (413) 755-1322. Nomination forms must be submitted no later than August 5. The Super 60 awards will be presented at the annual luncheon and recognition program on Oct. 28, at the MassMutual Center in Springfield.

The Super 60 award luncheon attracts more than 500 business leaders each year. Super 60 sponsorships are now available. For information, call (413) 755-1309 or e-mail Szynal at [email protected].

State Maintains R&D Leadership, Says New Innovation Economy Index

By
Biz Tips & Industry News Coronavirus COVID-19 Daily News Economic Outlook

BOSTON – The echoes of the COVID-19 global health crisis were apparent in the latest edition of The Index of the Massachusetts Innovation Economy, a report that tracks the strength of the Commonwealth’s tech and innovation sectors.

Even with net job losses in nine of 11 key tech sectors in 2020, the Massachusetts tech and innovation economy continued to be a top state in terms of total R&D investment ($36 billion in 2018, second only to California), record venture capital investment ($15.8 billion in 2020), and increased investment in higher education per student (up 29.4% since 2015).

Despite the data capturing the worst of the COVID-19 recession, all three of the sectors below were well above their 2015 employment levels, with the first two having actually added jobs during 2020:

• Biopharmaceuticals and Medical Devices (+37.8% since 2015);

• Scientific, Technical, & Management Services (+25.4% since 2015); and

• Software & Communications Services (+16.8% since 2015).

The 2021 Index found the following areas were bright spots for the innovation economy:

Leading Higher-Ed:

• A marked increase in higher education investment, with appropriations per student up 29.4% since 2015, greater than any of the LTS save for California;

• Highest number of degrees conferred per capita among the LTS (18.1 per 1,000 residents);

• 47.6% of the workforce has at least a bachelor’s degree, higher than any other state and well above the U.S. average of 34.4%.

R&D and VC Investment Rising: 

• Massachusetts is one of the leading producers of patents per capita, with 1,275 utility patents per million residents in 2020, second in the LTS;

• Of the 5 LTS with more than $1 billion in annual investment in 2015, Massachusetts saw the fastest growth in VC funding, up 88.3 percent from 2015 to 2020.

Healthcare Research:  

• $3.3 billion in National Institutes of Health (NIH) funding in Massachusetts in 2020;

• $5,659 of NIH funding per $1 million GDP;

• 11 Massachusetts research institutions received more than $100 million in NIH funding in 2020.

“While the pandemic’s impacts were stark, the investments made by the private and public sectors continue to fuel growth in the areas that are driving our innovation economy,” said Pat Larkin, director of the Innovation Institute at MassTech. “On education, we’ve seen the clear rise in higher-ed investment by the state, which is a key driver for our talent development pipeline. The Index also points to the potential for further strengthening, as the state expands Innovation Pathways programs at the K-12 level, efforts which will further train students for careers in advanced manufacturing and robotics, which desperately need talent.”

All 10 leading tech states saw net job losses in key sectors during 2020, including in Massachusetts. Since 2015, the Commonwealth’s innovation job losses were concentrated in a few key manufacturing sectors, including: Diversified Industrial Manufacturing (- 6.9%); Advanced Materials (-7.4%); and Computer & Communications Hardware (-16.9%).

To download a copy of the Index of the Massachusetts Innovation Economy, or to access interactive copies of the graphs and charts from the report, visit masstech.org/index.

Country Bank Recognizes President’s Platinum Recipient

By
Daily News

WARE — Country Bank recently announced that Tracey Wrzesien, assistant vice President, retail banking officer, is the recipient of its 2021 President’s Platinum Award.

The bank’s recognition program, “CB Shines,” encourages team members to look for coworkers who embody the bank’s corporate values of integrity, service, teamwork, excellence, and prosperity (iSTEP). Within this program, members can receive different levels of recognition: Silver Spotlight, Gold Star, and the President’s Platinum.

“Country Bank’s team members contribute to the bank’s success in so many ways throughout the year, and we are delighted to celebrate their contributions,” said Paul Scully, president, and CEO of Country Bank. “Tracey embodies the bank’s corporate values. In addition, her nominator recognized her contributions to the organization, customers, and coworkers. Our team is extremely dedicated, knowledgeable and committed to delivering the best service to their external and internal customers.”

Leadership Pioneer Valley Welcomes Five Additions to Board

By
Daily News News

SPRINGFIELD — Leadership Pioneer Valley recently welcomed five local leaders to its board of directors:

• Claudia Pazmany, executive director, Amherst Chamber of Commerce;

• Ryan Barry ‘17 LPV, partner, Bulkely Richardson & Gelinas LLP;

• Kristin Cole ‘13 LPV, director of Workforce Training, Greenfield Community College;

• Katisha Gallishaw, owner, KG Virtual CFO;

• Hope Ross-Gibaldi, executive director, Valley Venture Mentors

Leadership Pioneer Valley is currently recruiting for the 11th cohort to begin in September. Individuals interested in applying can find applications online at  www.leadershippv.org.