Daily News

SPRINGFIELD — Bacon Wilson, P.C. announced that eight of its attorneys have been named to Best Lawyers in America for 2023.

They are: Kenneth Albano, recognized in the category of business organizations (including LLCs and partnerships); Gary Breton, banking and finance law; Gina Barry, elder law; Hyman Darling, elder law; Mark Tanner, litigation – real estate; Michael Katz, bankruptcy and creditor debtor rights/insolvency and reorganization law; Peter MacConnell, real-estate law; and Stephen Krevalin, family law. Daniel McKellick was also recognized in Best Lawyers’ Ones to Watch in America for his work in real-estate law.

The firm was also recognized in Best Lawyers’ Best Law Firms in U.S. News & World Report. The firm is regionally ranked in tier 1 in banking and finance law, tier 2 in business organizations (including LLCs and partnerships), tier 2 in elder law, and tier 2 in family law.

Daily News

AMHERST — The Amherst Area Chamber of Commerce announced the return of the 19th annual A+ Awards celebration to be held on Thursday, Nov. 17 at the UMass Student Union Ballroom, celebrating “This Is What’s Next.” Each year, the chamber bestows A+ Awards to individuals and organizations that enrich the life of the community through their work in education, business, and civic engagement across its service area of Amherst, Belchertown, Hadley, Leverett, Pelham, Shutesbury, and Sunderland.

Nominations for the 2022 A+ Awards are open for one more week and can be made online only through Sept. 9 at amherstarea.com. The A+ Award categories are:

• The Lifetime Achievement/Legacy Award recognizes an individual or business for their outstanding contributions to the Amherst area over their career and the lasting impact their work will have on future generations.

• The Leader in Innovation Award recognizes entrepreneurs who craft creative solutions and redefine the way Amherst lives, works, and learns.

• The Leader in Sustainability Award recognizes a business, organization, or individual for their contribution to creating a sustainable Amherst, preserving and ensuring its vitality for future generations.

• The Young Professional Award honors a young professional who has a positive presence and has made a significant impact in the Amherst area.

• The Community Service Award honors a business, nonprofit, or individual that has benefited the lives of the Amherst area community through their work and outreach.

• The Chamber MVP is an individual who truly embodies the mission of the Amherst Area Chamber as a convener, connector, and catalyst for business and community development.

PeoplesBank returns as the presenting sponsor of the program and is an Amherst Area Chamber Platinum Chamber Champion partner. BusinessWest continues as media partner for this annual event.

Sponsorships and advertising opportunities are still available for the celebration. Email Claudia Pazmany, the chamber’s executive director, with any inquiries at [email protected].

Daily News

SPRINGFIELD — Ron Bryant, president of Baystate Noble Hospital and Baystate Franklin Medical Center – Northern Region, will extend his role to become president of Baystate Health Regional Hospitals, which also includes Baystate Wing Hospital in Palmer.

His new role becomes effective on Oct. 9 upon the retirement of Molly Gray as president and chief administrative officer of the Baystate Health Eastern Region.

“At Baystate Health, our goal is to continue providing a top-tier patient experience while focusing on safety, quality, and value across our organization. Ron’s proven visionary leadership and business acumen will further our mission of improving the health of the people in our communities every day, with quality and compassion,” said Marion McGowan, executive vice president and chief operating officer of Baystate Health.

Bryant joined Baystate Health in 2015 as president of Baystate Noble Hospital. Previously, he was executive vice president and CEO for the Noble Hospital Health System. In 2018, he was promoted to president of both Baystate Noble Hospital and Baystate Franklin Medical Center.

He brings a wealth of leadership experience and a passion for positive change within the Western Mass. healthcare community. During his time as president of Baystate Noble Hospital in Westfield and Baystate Franklin Medical Center in Greenfield, he successfully developed the strategic and operational plans for the two hospitals, comprised of 200 combined beds and nearly 1,800 team members. He will now oversee three hospitals with nearly 300 combined beds and more than 2,300 Baystate team members.

Daily News

SPRINGFIELD — Bing Productions will present MOSSO’s “Mix and Match: A Chamber Music Medley” on Thursday, Sept. 22 at 7 p.m. in Asbury Hall at Trinity United Methodist Church, 361 Sumner Ave., Springfield.

This performance by the MOSSO Chamber Players features violinists Robert Lawrence and Miho Matsuno, violist Masako Yanagita, cellist Patricia Edens, double bassist Boots Maleson, clarinetist Christopher Cullen, horn player Robert Hoyle, and bassoonist Shotaro Mori. According to Lawrence, the program — including the music of Mozart, Brahms, Dvořák, and Schubert — will be family-friendly and last approximately 75 minutes.

General-admission tickets, $20 for adults and $10 for seniors and students, are available at www.eventbrite.com/e/mosso-chamber-ensemble-tickets-408920240447.

Cover Story Sports & Leisure

Looking Sharp

Anneliese Townsend

Anneliese Townsend

 

“Never attempt to catch an axe.”

That’s one of a handful of rules printed above the targets in each of the 12 lanes at the Agawam Axe House. And while that’s just good common sense, said Anneliese Townsend, founder and co-owner of this intriguing business, this reminder is there for a reason.

“You would think that would be pretty obvious, but, in fact, it’s a natural instinct to put your foot out and try to stop something coming at you, so we have to remind people that it’s an axe,” she told BusinessWest, adding that, since she opened the doors in January 2018, no one has tried to catch an axe.

But many have tried to throw one.

Indeed, this unique enterprise, said to be the first of its kind in New England, the only one in Western Mass., and one of just six currently operating in the state, has seen, well, a sharp rise in interest since it opened, and the numbers — of both participants and revenue — continue to grow.

The venue has welcomed a wide range of constituencies, from companies large and small that are looking for a new and different kind of team-building exercise (a large contingent from LEGO was in recently) to birthday, bachelor, bachelorette, and divorce parties (axe throwing has become popular among women, as we’ll see); from leagues that compete weekly to individuals, many of them professionals, who are looking to blow off a little steam and rid themselves of some stress.

There are many days when Townsend will see all of the above.

“It’s absolutely massive, and it’s getting bigger every day,” she said of the sport of axe throwing, which she was introduced to while on a trip to Montreal with her boyfriend (and now business partner), Bob Manning.

“We Googled ‘things to do in Montreal,’” she recalled, “and the second and fourth items that came up were both axe throwing, and I thought that it was the best thing I’d ever heard of.”

the Burn Battle

The Agawam Axe House hosts a number of leagues and fund-raising events, such as the Burn Battle, which raises money for the American Cancer Society. Participants in last year’s ‘battle’ are seen here. The 2022 edition is set for Oct. 2.

They went to such a facility, but because they were with Manning’s children, they could not partake — it was an over-18 activity, and for obvious reasons. But Townsend was certainly intrigued, and upon returning to Western Mass., she did another Google search, this one to find axe-throwing venues near Agawam.

The closest one she found was in New Jersey. Instead of driving there, this entrepreneur — she’s been involved with an ice-cream shop and some other ventures in this community — eventually decided to open her own facility.

“We Googled ‘things to do in Montreal,’ and the second and fourth items that came up were both axe throwing, and I thought that it was the best thing I’d ever heard of.”

And from the day it opened, it’s been a hit. Or, as participants in this activity might say in this sport, it has stuck.

Business is brisk, and as the sport gets more exposure — from ESPN 8 or from the many who have already tried it — Townsend expects it will only continue to grow in popularity.

When people try it, they find that it’s not nearly as hard as it might look, and it has become a proven stress reliever — at a time when many are having issues with stress, for one reason or another.

“We have a lot of doctors from Noble Hospital [in Westfield] who come in,” she said. “They’re the most stressed people out there.”

This writer tried it, and, after a few throws to get a feel for it and stop trying to ‘flick the axe,’ as Townsend put it, managed to stick a few. Hundreds of other people have done the same, and that’s why Agawam Axe House is more than on target with its business projections.

For this issues and its focus on sports and leisure, BusinessWest talked with Townsend about the sport — and business — of axe throwing, and why she believes this is anything but a fad.

 

Gaining an Edge

When asked about axe throwing, or hatchet throwing, which is a more accurate description of the implement being used, as a leisure activity, Townsend described it as “a Canadian thing,” meaning that is where it started and is perhaps most popular.

She said urban axe throwing became a sport — and a business — in 2007 with the opening of Backyard Axe Throwing, or BATL, founded by Matt Wilson. It has grown from there, and there are now hundreds of venues across Canada, the U.S., Australia, Europe, and elsewhere, with more opening their doors every year.

Indeed, Townsend, a native of Australia whose parents still live there, said she keeps urging them to open an axe-throwing business in Sidney. They haven’t, but others have, much to her consternation.

Members of one of the leagues throwing at the Agawam Axe House

Members of one of the leagues throwing at the Agawam Axe House show off their axes, and their enthusiasm for the increasingly popular sport.

There are now actually two bodies governing the sport and promoting it on a global scale — the International Axe Throwing Federation (IATF), which the Agawam Axe House operates under, and the World Axe Throwing League (WATL).

Overall, the sport is catching on at many levels, everything from tournaments, including the U.S. Open, staged by the WATL — which took place in July in Minneapolis, with the finals airing on ESPN — and the International Axe Throwing Championship, which took place in June, to amateurs picking up the sport in places like the Agawam Axe House.

As for the business of axe throwing … getting off the ground was relatively easy, said Townsend, explaining that she acquired the location, secured the necessary permits (a liquor license was sought initially but not granted), and found insurance — a necessary but expensive item in this business sector, to be sure — through a company in Chicago that specializes in writing policies for axe-throwing establishments.

And, as noted, things got off to a fast start, and the company quickly built up some momentum.

But COVID brought things to a screeching halt in the spring of 2020, as it prompted the closing of all indoor sports facilities, said Townsend, adding that she and Manning eventually gained permission from the town to operate a few lanes outdoors, enabling the business to survive until restrictions were fully lifted in the spring of 2021.

Since then, business has been steady, with healthy amounts of new and repeat business, with both being vital to the success of any sports-related business.

Visitors to the Axe House, which now also boasts ‘foot bowling’ — bowling with a football — can use ‘house’ axes or bring their own, although it must meet certain specifications, especially with the size of the head and the material for the handle; it must be wood to control the amount of bounceback.

Many who partake, especially those in leagues, do own their own axes, which typically run for $80 to $90 — much more than a hatchet off the shelf at a hardware store would cost — and some go for as much as $200 to $300, with customized handles.

“That’s part of the fun; you come in thinking, ‘I’m never going to be able to do this,’ and you stick it, and the elation is … well, that’s what it’s all about. That’s why it’s so addictive.”

But otherwise, the sport is very affordable, with lanes renting for $25 per hour, per person.

Townsend said axe throwing is growing in popularity for a number of reasons, starting with the fact that it really is much easier than people think and doesn’t take any real strength, agility, or athletic ability in order to excel. It’s been called the ‘great equalizer’ by one facility owner interviewed by USA Today. And Townsend agreed with that assessment.

“The reason many people don’t try it is because they assume you have to be strong, you have to be able to throw it fast, you have to have some throwing ability,” she said. “It’s a lot easier than one could imagine; people come in every day and say, ‘I’ll never be able to do it,’ and four or five throws later, they’re sticking it.

“It’s all about where you stand — I can make anyone stick it,” she went on, adding that instruction for first-timers is part of the package. “And that’s part of the fun; you come in thinking, ‘I’m never going to be able to do this,’ and you stick it, and the elation is … well, that’s what it’s all about. That’s why it’s so addictive.”

What’s more, you can do this yourself or in groups of all kinds — leagues, a gathering of co-workers, those bachelor, bachelorette, and divorce parties (Townsend had two of them scheduled for the approaching weekend when she talked with BusinessWest), and fundraising events.

These include the upcoming Burn Battle, the second annual women’s tournament, slated for Oct. 2, that will raise funds for the American Cancer Society.

“Girls from all over New England and far away as New Jersey and Philadelphia come and throw and compete,” she said, adding that one of the bigger surprises thus far is how popular the Axe House, and the sport, has become with women. She estimates that perhaps 65% of customers are women. She’s not exactly sure why, although she has some theories.

“I think many women know that this is women-owned; the assumption, when you hear ‘axe throwing,’ is that it’s going to be a gentleman teaching you how to throw axes. I think that women find out it’s me, because I’ve been on the radio a few times, they’re much more comfortable coming in and trying it out,” she said. “Also, it’s an outlet — for everybody, not just women.”

Looking ahead, Townsend said there are no immediate plans to add additional locations or expand beyond Agawam. The immediate focus is on growing the business there and continuing to build the customer base by promoting the sport in any way she can.

 

All You Could Axe For

As for some of those other posted rules, they include “never run with an axe,” “no trick shots,” and “do not hold the axe by the blade.”

There is another rule — participants must wear close-toed shoes (again, for obvious reasons). Some show up not aware of this stipulation, said Townsend, adding that the Axe House has shoes (Crocs, actually) for rent.

“We call them shoes of shame, for obvious reasons — you weren’t smart enough to wear close-toed shoes throwing sharp objects,” she joked, adding that fewer people have to rent them these days, yet another sign that people are becoming aware of this activity and what it’s all about.

Suffice it to say this business venture is paying off, and that participants are not only sticking it, but sticking with it.

 

George O’Brien can be reached at [email protected]

Features Special Coverage

Meetings of the Minds

Korey Bell says Vistage has acted like a board of directors

Korey Bell says Vistage has acted like a board of directors for small companies who don’t have such a body, and has helped with some important issues.

 

Korey Bell had an issue.

It hasn’t been entirely resolved, but he’s making some real progress, thanks to some other business owners he was able to bounce things off.

The issue concerns pricing of the services provided by his company, Westside Finishing, which, despite that name, is based in Holyoke (yes, it started in West Springfield). More specifically, Bell noted that he held the line on prices, despite inflation and soaring costs of labor, material, and just about everything else, while almost all his competitors had raised theirs. He had questions about what to do and when, but needed a sounding board, like a board of directors.

And he had one in the form of a group of area business owners and managers — many of them in various stages of leadership transitions — called Vistage. This is a global entity with chapters across the country that total more than 23,000 members. The group now serving Western and Central Mass., led by business consultant Ravi Kulkarni, is in its infancy stages, having been formed in the spring.

Bell, the second-generation CEO who took over Westside Finishing from his father a few years ago, was one of the group’s first members. He credits the others in the room with being good listeners, solid providers of advice, and, perhaps most importantly, peers who will hold him accountable when he decides to move forward with something.

“We all do things differently, and that’s a refreshing perspective,” he said. “I may be thinking of attacking a problem one way, but at the meeting, some of the other members are able to ask the questions to get you looking at the problem in a different light. You might come into a meeting with a plan, and by the time you leave, you might have turned that plan on its head, but you’re more comfortable with the plan you came up with with the group then you were with your own.”

“You might come into a meeting with a plan, and by the time you leave, you might have turned that plan on its head, but you’re more comfortable with the plan you came up with with the group then you were with your own.”

Will Maybury, chief financial officer at East Longmeadow-based Maybury Material Handling, agreed. Maybury, son of company president and CEO John Maybury, is poised to take the helm at the company in a few years (there is no firm timetable) and he joined Vistage to help prepare him for that moment and learn from those who already have the title he aspires to.

“Where I saw the biggest value for myself is the growth opportunity the group provided me as someone coming into the CEO position,” Maybury said. “I’m able to surround myself with people who have been in the role and get an outside perspective, while also giving myself some personal growth and networking to help me transition into the role.”

Steve Graham, owner of Toner Plastics in East Longmeadow has been a Vistage member for more than a decade now. He’s not a member of the local group — instead he travels to Boston for meetings there — but is a firm believer of the organization’s power to bring minds together to address common problems and issues, and often help create answers.

“You have an opportunity to speak with other people who are in similar positions of leadership at their companies — entrepreneurs, owners, executives,” he said. “And having an advisory board of sorts, or a board of directors, which is what Vistage boils down to for many of us, is extremely valuable.

William Maybury, now in the process of succession planning

William Maybury, now in the process of succession planning

“You sometimes get reinforcement of an idea that you’ve been thinking about, and it’s just enough to push you over the edge to pull the trigger,” Graham went on. “And sometimes … you get a different view of the problem or the issues that you’re seeking to solve, and it pushes you in another direction; it’s extremely motivating for me.”

For this issue, BusinessWest talked with members of the local Vistage group about what they gain from participation, and how the monthly meetings have helped them become better leaders at a time when managing a business, large or small, has become ever-more challenging.

 

That’s the Idea

As he talked about his group and how and why it was formed, Kulkarni told BusinessWest that there was a clear need for such an entity in Western Mass., where there are few groups of this type focused on bringing young CEOs from diverse industries together around a conference room table.

Those that do exist are mostly regional, with Boston being the closest meeting place, and have requirements for membership that ultimately exclude many of the small businesses in this region. Vistage requires companies to have at least 25 employees and annual revenues of at least $5 million, which brings more area businesses into the mix, he said.

As for how it works, Kulkarni said it’s rather simple — when you put a dozen or so high-performing business executives in a room, these meetings of the minds have enormous potential for creating not only meaningful dialogue about the issues of the day — and there are many of them — but give and take that leads to problem-solving.

“You sometimes get reinforcement of an idea that you’ve been thinking about, and it’s just enough to push you over the edge to pull the trigger. And sometimes … you get a different view of the problem or the issues that you’re seeking to solve, and it pushes you in another direction; it’s extremely motivating for me.”

Elaborating, he said the hallmark of Vistage groups is something called ‘issue processing,’ a structured, thorough approach to helping members think through the dynamics of a challenge.

“It forces you to push beyond your assumptions and get to the real issues,” Kulkarni explained. “That’s critical to understanding and evaluating your options before making a decision and taking action.”

Such was the case with Bell and his issue with pricing and whether to increase his, which we’ll return to later. As he talked about it, Bell said that while Westside Finishing, a powder-coating operation that handles products ranging from cabinets to hand-dryers, has grown exponentially since his father started it as a one-person show and now boasts 65 employees, it is still, in most all respects, a small company.
“We’re not to the size where I would have a formal board of directors that I, as the president or CEO could lean on, bounce ideas off of, or help me with strategizing and planning for the future growth and development of our business,” he explained. “The members of Vistage are all people who have similar, high-level experience in running and managing a business, but at the same time, they have different backgrounds, very similar to what you would find on a board of directors.”

While Vistage is open to business owners and managers at all stages of their careers, Kulkarni said it is especially beneficial to those going through transition, be it in leadership or ownership.

Such was the case with Dave Boisselle, senior vice president of Operations for J. Polep in Chicopee, which has gone from being family owned to being owned by a large conglomerate, National Convenience Distributors. It’s not a small change, he told BusinessWest.

“When you’re sitting in the room and you’re talking corporate, it’s much different from family,” he said. “Family is family; everyone knows what they have to do, and they can talk to each other a certain way. Corporate is all professional, so you choose your words wisely and explain things in much more detail. It’s a much different structure.”

As for his transition to leadership of his company and how Vistage will ease that process, Maybury said he intends to be a sponge and “soak up as much as he can” at the monthly meetings with the goal of being more ready to take the helm. He said he benefits from being in a room where people at different points in their careers and different business situations, can thus provide different perspectives.

“Some people in our group are getting to the end of their careers and want to pass on some knowledge,” he explained. “I’m at the beginning, and some are in the middle; everyone is different, and that brings a lot of perspective to the table.”

Overall, Vistage provides value to members by bringing leaders of diverse businesses who are facing common issues and challenges together in a room to share what are usually different thoughts and approaches to those matters.

Ravi Kulkarni

Ravi Kulkarni says the Vistage group he leads is diverse and looking to add new members from different sectors of the economy.

“People do things differently in their businesses — they have different ideas,” said Graham. “They may have different ways of financing their business that you haven’t considered, for example, and you make some friends.”

Ryan Clutterbuck, president of Pace Engineering Recruiters in Quincy, which specializes in finding artificial intelligence, robotics, autonomous vehicle and high-performance and quantum-computing engineers, and another member of the local Vistage group, agreed.

“It’s beneficial to have a group of people that you can share ideas within a safe environment, where they’re willing to give you direct feedback,” he told BusinessWest. “You can’t always run your ideas by people below you, so you need a group of peers who can give you honest and direct feedback, and that’s what I get out of Vistage.”

Such feedback is what Bell sought, and received, when he brought his ‘issue’ to the group a few months ago.

“This year has been the busiest year in company history — we’ve set four sales records from January up until now,” he said while setting the stage for the discussion that ensued. “The issue brought to the group was ‘I’m busier than I’ve ever been, my margins are pretty good, but I feel that I may be leaving something on the table … because a lot of competitors had gone up 10-fold from what I’d done as far as price increases since COVID started.’

“I wanted to make sure I was charging a fair-market price for the service that I’m offering and make sure I’m not leaving a lot of meat on the bone,” he went on, adding, without going into much detail about his actual plans, that members of the group were able to help him answer those critical questions and others that were brought to the table.

“You can’t always run your ideas by people below you, so you need a group of peers who can give you honest and direct feedback, and that’s what I get out of Vistage.”

This is the essence of issue-processing, said Kulkarni, adding that members ask clarifying questions and, by meeting’s end, have the member in question much closer to moving beyond asking questions and acting. And once this action is taken, these same group members will follow up and hold the members accountable for the actions taken, again, similar to the way a larger company’s board of directors would.

Boisselle agreed.

“When it comes to issue-processing, first members listen and then they ask questions and ultimately give suggestions,” he said. “And you start changing your perspective on how you’re going to do things; asking the questions gets you to start thinking, then the advice comes, and then you connect everything together and decide how to move forward.”

Clutterbuck brought his own issue — one of scalability and the personal mindset to accompany such possible growth — to the group and came away with the feedback he was seeking.

“I’d gone through the roller-coaster of ‘are you building to scale or are you building to get to a certain level and then sustain?’” he said. “So, I brought an issue to the table that was related to more my personal mindset of what should I be doing from a target standpoint and a growth standpoint that’s going to beneficial for both the company and the family and making sure I’m not burning out on either end.

“It certainly helped me reset and get back to the original plan that I had developed for the business and the direction I wanted to go in,” he went on as he recalled this issue-procession session. “It was a good conversation to have, because there’s no one else I can have it with.”

 

Meeting Expectations

Moving forward, Kulkarni said his immediate goal is to recruit more members — “we’re looking for those who are hungry, humble, and smart” — and bring the number of business leaders in the room closer to 12, the desired sweet spot.

Doing so will bring more voices to that table and more processing of critical issues facing area business owners and managers.

These company leaders do not have their own board of directors, but they can share one. And this is the essence of Vistage, summed up effectively and concisely by Clutterbuck.

“They say it’s lonely at the top; I don’t necessarily agree with that, but you don’t have a lot of sounding boards,” he said. “It’s not like you can bring these conversations to your employees or people within your organization because they’re deeply personal. This is a good group of people to have real conversations with.”

 

George O’Brien can be reached at [email protected]

Insurance Special Coverage

Into the Breach

 

 

 

When hackers gained access to a large retailer’s computer network through scam emails to employees, more than 900 store locations were affected, and 2 million customers were impacted before the company was alerted by a security blogger six months later. That led to several class-action lawsuits against the company, attorney generals in multiple states opened investigations, and the affected credit-card companies issued fines.

In another case, a ransomware attack blocked all access to a regional accounting firm’s computer system, and also deleted files. After ransom was paid, it took several days to restore the applications and recover deleted files from a backup. As a result, the firm was unable to meet tax-filing deadlines, causing brand and reputation damage.

Then there was a company that provides technicians to a laptop manufacturer’s repair center. While a young woman’s laptop was in the custody of technicians at the center, her Facebook account was hacked, and several sexually explicit photos were posted to it. She negotiated a quick multi-million-dollar settlement with the laptop manufacturer, which demanded, in turn, that the staffing company compensate it for the privacy breach.

These are only three of many real-life cases detailed by the Hartford Financial Services Group as warnings that companies of any kind and any size are vulnerable to cybercrime.

“That’s where insurance comes in, to mitigate the cost of a claim,” said Chris Rivers, senior vice president of Phillips Insurance Agency in Chicopee. “Small businesses sometimes feel they have less risk than larger ones, but that’s not the case. Anybody can be hacked and be held ransom or have data get out.”

Breaches can come at all severity levels, he noted, from a simple Facebook hack to an attack that steals credit-card information or Social Security numbers from tens of thousands of consumers.

Chris Rivers

Chris Rivers

“Small businesses sometimes feel they have less risk than larger ones, but that’s not the case. Anybody can be hacked and be held ransom or have data get out.”

The Hartford reports that the average cost of a data breach in 2020 was $3.86 million, and the U.S. will account for half of all breached data in the world by 2023, when an estimated 33 billion records will have been stolen by cybercriminals.

One of the more severe types of attacks, those involving ransomware, take place every 11 seconds, and the average ransom payment increased to more than $233,000 in 2020. Such attacks result in an average of 19 days of business interruption and downtime.

Again, it’s not just large companies at risk of cyberthreats of all kinds, said Jack Dowd, vice president of Personal Lines and a commercial risk consultant for the Dowd Insurance Agencies in Holyoke.

“The percentage of small businesses that are targeted is significant,” he noted. “A lot of the people doing this know that a lot of small businesses don’t have the infrastructure in place that a larger business does and are more susceptible to attack, and that’s why they’re attacking them.

“It’s important to know, if you’re taking credit cards or you have a system where you store any type of sensitive information with clients, you’re vulnerable,” he went on. “We’ve seen them target people who wouldn’t think they’d be typical targets, and your best course of action is to protect yourself as best you can, and that would include looking into cyber insurance.”

 

Costs Pile Up

According to the Philadelphia Insurance Companies, the average cost of a data breach is $204 per lost record, with more than half of such costs attributable to lost customers and the associated public-relations expenses to rebuild an organization’s reputation.

That’s one reason why cyber insurance policies cover two distinct classes of loss: first-party and third-party.

First-party coverages include loss resulting from damage to or corruption of electronic data and computer programs; income reimbursement during the period of restoration of the computer system; customer notification, regulatory fines and penalties, and public-relations expenses; and reimbursement for extortion expenses, among others. Third-party coverages, on the other hand, include legal liability for financial damage and privacy violations involving customers, employees, and other third parties.

“Network-security liability is a coverage that will provide defense and settlement costs in the event a third-party claimant sues the insured over a failure to secure their own computer system,” Dowd explained.

Jack Dowd

Jack Dowd

“If you’re taking credit cards or you have a system where you store any type of sensitive information with clients, you’re vulnerable.”

But he warned that these expenses can total much more than the client anticipates. In fact, insurers often include sublimits on certain specific types of losses, and it’s up to the insured party to purchase higher limits.

“A lot of insurance companies give a certain amount, say $50,000, toward notifying people they’ve been hacked. But the notification costs alone, depending on the size of the client book, could be more than that. Then there’s the cost to rebuild data, the cost to secure their network … a lot of things go into cyber insurance that people don’t always consider.”

Rivers agreed. “Within the insurance industry, a lot of carriers have thrown in some smaller sublimits that weren’t there in the past. But you can always buy more, up to what you want.”

It’s easy to see why they would. The Philadelphia Insurance Companies lists many breaches over the past several years that affected thousands of customers, like the international hacking group that gained access to the computerized cash registers of a restaurant chain and stole the credit-card information of 5,000 customers, starting a flood of fraudulent purchases around the world.

Or an employee of a Massachusetts rehabilitation center who improperly disposed of 4,000 client records that contained Social Security numbers, credit- and debit-card account numbers, names, addresses, telephone numbers, and sensitive medical information. The center settled the claim with the state and agreed to pay fines and penalties as well as extending $890,000 in customer redress funds for credit monitoring on behalf of the victims.

Selective Insurance Group relates the case of a payroll employee at a plastics manufacturing company who received a spoofed email from a scammer purporting to be the CEO, requesting that the employee send all employees’ W2s immediately. Which he did, and multiple employees reported that fraudulent tax returns were filed in their name.

This last example is a case of what’s known as ‘social engineering,’ and such phishing attempts have become more savvy and authentic-looking. “They’ve gotten a little more sophisticated in recent years,” Dowd said, which is why companies, often encouraged by their insurance companies, initiate training to reduce the chances of human error causing a breach.

 

Closing the Circle

Insurance companies provide another human element to the fight against cyberthreats, Dowd said.

“If you have a cyber policy, you have a place to go, a place of refuge, if you will. If you ever go to work Monday morning and your system is hacked and someone is demanding a ransom payment, you don’t know where to begin. But if you have cyber insurance, you can call the company; they’ve been through this many times, and they’ll tell you exactly what to do. It gives you a starting point you wouldn’t have otherwise.”

When quoting a policy, he added, an agency might run a test of the company’s system and let it know of any holes that need to be closed, Dowd added. “Even if you don’t proceed with coverage, at least you know you have those entry points, and you can pass it on to a person able to close those gaps for you.”

Insurers may also supply clients with training and quarterly check-ins, he added. “They’ll have your employees take these quizzes that will supply them with real-life incidents that happen in the cyber world, and have them identify the errors or signs that they were fake or malicious; they can actually give you some real-life practice on that.”

Rivers said many insurers provide an online help center, but many clients don’t use that resource, instead hiring a computer specialist to make sure the company has the correct virus and malware protection and that there are no gaps in security, in both the hardware and human realms.

However they delegate it, keeping up to date with the latest threats, strategies, and technology is critical, he added. Even though there’s a cost associated with that, it can pale compared to the cost of a breach.

“It’s something that is out there, and everyone can be impacted by it, no matter how small or how big they may be,” Rivers told BusinessWest. “The reputation of a company can certainly be impacted by it. It’s something people don’t always think about — or want to think about. They say, ‘I only have a couple computers; it can’t happen to me.’ But it can.”

 

Joseph Bednar can be reached at [email protected]

Special Coverage Women in Businesss

Getting Employees in the Game

 

Linda Dulye

Linda Dulye

Linda Dulye calls them ‘spectators.’

That’s the term she uses to describe employees who, well, are not in the game, as they say in the sports universe. Instead, they’re watching it from the sidelines. They’re not engaged, and they are not part of the solution, said Dulye, the former journalist turned corporate communications specialist and change-management agent turned entrepreneur who started Dulye & Co. in 1998 to help leaders and their organizations cultivate magnetic cultures where people want to stay and grow.

The Pittsfield-based company, which counts Lockheed Martin, General Dynamics, Cigna, and other global companies on its client list, helps guide these firms to achieve a ‘spectator-free’ workplace through meaningful connections, open communications, and mutual respect.

“If you’re paying people to show up, put a badge on, and complain all day, all they are … are spectators,” she explained. “And spectators don’t add depth. If you’re going to just leave them on the benches watching, that’s a bad business strategy. Your goal is to be spectator-free, have them down on the field helping you move forward and score.”

Such sentiments have always been important to the success of any organization, large or small, she told BusinessWest, but they are even more critical in this time of profound change in the work environment brought on by the pandemic and related forces.

“This has been the most dramatic change I’ve ever experienced in my consulting career,” Dulye said, adding that, at this critical time, communication and engagement have never been more important, but they have also never been as challenging.

Overall, she said companies large and small have historically waited until a time of profound change, or crisis, before addressing issues such as culture, communication, and engagement. Her simple message is not to wait.

“Let’s not wait for a crisis,” she said. “Let’s be pre-emptive; let’s realize that everything in building a spectator-free workplace is a great business strategy, not just when something catastrophic has happened.”

While helping companies become more connected and engaged — two words she used very early and quite often as she talked about her work — Dulye has also committed herself to helping the next generation of leaders thrive in an ever-changing work environment.

“If you’re paying people to show up, put a badge on, and complain all day, all they are … are spectators. And spectators don’t add depth. If you’re going to just leave them on the benches watching, that’s a bad business strategy. Your goal is to be spectator-free, have them down on the field helping you move forward and score.”

Indeed, she created the Dulye Leadership Experience (DLE), which offers year-round developmental and networking programs (such as an upcoming program on cryptocurrency) and, especially, an intense two-day retreat that, after two years of being a virtual event, will again be in-person in early November.

Applications are currently being accepted for the conference, and 45 individuals from different business sectors will eventually be chosen to attend the retreat, which “is a not a conference,” she said with considerable emphasis in her voice. Instead, it is more of an immersion, where young people hear from experts, who stay for the entire weekend, on various subjects with the goal of improving vital skills and stimulating networks for career and life success. The accent, as it with Dulye’s business-consulting work, is on collaboration and connections.

The DLE is a nonprofit endeavor funded by Dulye, who said she created it because there has always been a strong need for such programming, and that need has also been magnified given the changing landscape in business.

“I invest quite a bit in this because I believe in philanthropy,” she said. “And I believe in helping others see — and seize — their best.”

For this issue and its focus on women in business, we talked at length with Dulye about entrepreneurship, the leadership experience she created, changing dynamics in the workplace, and, especially, about how she helps companies convert employees from spectators into engaged team players.

 

Dulye Ink.

Looking back on her life and career, Dulye said she had several important role models and mentors, starting with her parents, who were both entrepreneurs.

Her father ran a chain of small newspapers in New York’s Lower Hudson Valley, while her mother started a commercial printing business, a field that was totally dominated by men at the time.

“When you grow up in family business, or businesses, you learn every facet of a business,” she said. “You also learn that you get paid last, and you learn that employees are what enable you to go to college — my parents’ employees enabled me to go to college — and you learn that every single person is vital; it doesn’t matter what their title is.

Linda Dulye says the Dulye Leadership Conference has evolved over the years

Linda Dulye says the Dulye Leadership Conference has evolved over the years, but its mission remains unchanged — to help young people gain the skills and confidence needed to thrive in an ever-changing workplace.

“I got my hands dirty, and I got humbled by both my parents,” she went on. “I never had cushy jobs, and I had to earn my promotions; I never wanted to be the kid that was the boss’s kid. I learned how to love work, and that’s important; I love what I do, and my parents loved what they did.”

Growing up, she worked in both businesses, starting with her mother’s shop when she was 8. By age 13, she was writing obituaries for her father’s papers “back when writers wrote the obituaries, not the funeral homes,” before moving on to the police beat and other assignments.

Meanwhile, her mother’s entrepreneurial spirit and willingness to go where women traditionally didn’t go, job-wise, certainly inspired her throughout her career.

“My mother was a novelty — there weren’t a lot of women business owners at that time, and I learned a lot from her,” she recalled. “Most of the industries I was in were male-dominated, and I learned how to express my views in a confident way and how to form relationships with people who were going to be very judgmental of me, because I’m the token female out there, so I have to prove myself a little bit more.”

But there was something else she took from her mother that stayed with her through all her various career stops and especially when she went into business for herself.

“She could look at a cloudy sky and always find that patch of blue,” Dulye said. “And it was finding that patch of blue every day — in your work, in your life — that stuck with me. Sitting in rooms where people would ask me when I was going to be serving the coffee, even though I was part of the leadership team at the table, was pretty typical — but I always looked for that patch of blue.”

Dulye didn’t want to go back to either of her parents’ businesses after graduating from Syracuse University, so she went to work for a daily newspaper in suburban Philadelphia called the Bulletin. Her real ambition, she told BusinessWest, was to be a sports journalist, but at the time, the field was mostly closed to women, so she stayed on the news side, while maintaining a love of sports that can be seen in the terminology she uses and references to getting employees into the game and off the bench.

Fast-forwarding a little, Dulye, seeking a better-paying profession, eventually segued into corporate communications, starting at Drew University while earning her master’s degree. With a desire to work for large corporations, she went to work for GE in Pittsfield and later New Jersey and Pennsylvania.

She joined the company in the late ’80s, at a time of dramatic downsizing, a period that provided several critical learning experiences she would apply later in her career.

“There’s was lots of learning about culture, about people, about effective leadership, about communication — you were communicating some of the toughest messages ever,” she recalled, adding that she worked for tough bosses, including Jack Welch, who were “ahead of their time in many respects.”

As GE was in the process of selling its aerospace division, she moved onto Duracell, then Allied Signal and Public Service Electric and Gas.

She made a number of job changes at a time unlike today, when such movement is expected and even appreciated by many of those doing the hiring, because she wanted to be in different environments, experience different organizations, and learn from different leaders.

“I wanted to experience different cultures and leadership styles and get smart in different industries,” she said. “Even though I knew family business, I wanted to learn global business.”

Eventually, after growing tired of lengthy daily commutes to work, she decided to go into business for herself, essentially to pass on to business leaders what she had learned while working for her parents, but also while working in corporate America.

“I knew what companies needed most,” she explained. “They needed people to help their leaders connect with the front-line folks, to help explain change, to help get people motivated, to move forward with goals. With all the work I had done, I wanted to focus on leadership communication and employee engagement.”

 

Connecting the Dots

As she talked about her business and the value it provides to clients, Dulye focused on that word ‘engagement,’ its importance in the workplace, getting people to be part of the team in question, and having them help leadership run the business.

Which brings her back to the importance of having a spectator-free work environment, which businesses appreciate, even if they know they need help to achieve such an environment.

The key, she said, is to give employees the opportunity to get on the playing field.

“My mother was a novelty — there weren’t a lot of women business owners at that time, and I learned a lot from her. Most of the industries I was in were male-dominated, and I learned how to express my views in a confident way and how to form relationships with people who were going to be very judgmental of me, because I’m the token female out there, so I have to prove myself a little bit more.”

“Which means you have to share information, you have to be open to their ideas, and you have to involve them in making decisions on how the business needs to move forward,” she explained. “Otherwise, you’re going to have spectators; that means really stopping, listening, and having conversations, not presentations.

“Presentations do not build relationships; conversations build relationships,” she went on. “That’s what leaders, more than ever, need to do. “Leaders say, ‘I don’t have time’ — and I understand, time management is a massive challenge. However, if you don’t have time to help your people understand what’s going on and why and you think it can be done better, then you’re losing out on the greatest resource you have to help you improve as a business — and as a leader.”

Finding time and becoming spectator-free is obviously challenging, said Dulye, adding that it almost always requires adjustments in culture and leadership dynamics, with a hard focus on upgrading people skills, processes, and practices that ultimately create what she calls a “connected organization.”

Providing critical help with this complex assignment through tools such as its Engagement through Action Planning Process has enabled Dulye & Co. to grow and consistently add new clients over the years, she went on, adding that there have been times — the Great Recession of 2008 was one of them, and the early months of the pandemic was another — when even the largest corporations cut back on consultants.

And it was during what became a very slow period for the company in the fall of 2008, when the company lost 80% of its work, when Dulye found a patch of blue and conceived of what would become the Dulye Leadership Experience.

“In my consulting work, I was noticing that the new grads coming into the businesses really weren’t prepared to integrate well,” she recalled. “They were very smart in their technical majors, but they’d gone from a bubble of being able to pick their friends, being able to hang around a lot of people their own age, and being able to know when there was a test because they would get a syllabus and knew what to read, to showing up and not knowing anyone, and being in a hodgepodge, diverse team that they didn’t pick, with people having all kinds of issues going on that are very different generationally. They need to form relationships and strong communication bonds, and they need to know how to sell themselves and their ideas.”

The DLE, originally established in partnership with Syracuse University, was created as a philanthropic, nonprofit organization to help undergraduates cope with all that and successfully transition to the workplace.

But like any successful business, it has responded to change and evolved over the years.

Indeed, when Dulye moved to Western Mass. in 2017 to re-establish her home and business, programming shifted to attract, develop, and retain young professionals in the Berkshires. And with the pandemic and the dramatic changes it has brought to the workplace, the DLE shifted again, to virtual programming that escalated in frequency and variety and succeeded in attracting a more diverse professional network that now stretches from coast to coast and beyond, she told BusinessWest.

“We started moving and creating new programming every single week to connect people, which means connecting people from all over,” she explained, adding that an alumni group was established, and programs like a ‘breakfast club’ and chat initiatives were created to involve more individuals at a time when technology allowed that to happen.

The DLE soon added workshops on a variety of topics, from public speaking to time management, to provide more and different learning experiences, most of them inspired by polling and questions like ‘what are you struggling with?’

This shift can be seen in the latest offering, an ownership workshop titled “Demystifying Cryptocurrency,” slated for Sept. 20. The one-hour, virtual conversation will feature nationally recognized experts Paul Farella and Alexandra Renders of Berkshire-based Willow Investments, who will discuss, among other things, what blockchains are and how they work, the impact this technology can have on business and society, and the risks and opportunity that exist in this realm.

This workshop is an example of how the DLE works to educate and inform, while helping emerging leaders succeed in a business world where change is the only constant, Dulye said.

As for the upcoming annual retreat, it is, as she noted earlier, an immersion in every sense of the word.

“It’s three days in the Berkshires — you stay at this compound; you don’t come and go like at a conference where you go to a 9 o’clock session and then hit Starbucks at 10 and go back at 11,” she explained. “Once you come in on Friday night, you can’t leave until Sunday, at all, and you need to stay fully engaged with everyone there.”

There’s that word, engaged, again.

Summing up the retreat, Dulye said the goal, the mission, is to get participants to “learn like mad and get out of their comfort zones,” and it has been this way since she first launched the initiative in 2008.

 

Bottom Line

Flashing back a half-century or so, Dulye remembers when her mother took what was a huge risk at that time and invested heavily in a Goss Community press to take her commercial printing enterprise to the next level.

“People would come into her business from all over the world to look at this press,” she recalled. “I have no idea how much she probably put on the line from our family finances and going into debt — although my father had to sign for everything, because women couldn’t do that then. That, I remember, was groundbreaking.

“And I wanted to experience a lot of groundbreaking events in business,” she went on, adding that she certainly has. But, more than experience them, she’s been part of them, through her work as a consultant, but also through creation of the Dulye Leadership Experience.

In both realms, she’s focused on facilitating success in a changing workplace and, as she said repeatedly, helping business leaders create a place where there are no spectators.

 

George O’Brien can be reached at [email protected]

Community Spotlight Special Coverage

Community Spotlight

Jeff Daley says the Ludlow Mills project is at an important turning point.

Jeff Daley says the Ludlow Mills project is at an important turning point.

When Westmass Area Development Corp. and its board of directors went all in and acquired the massive and environmentally challenged Ludlow Mills complex in 2011, Jeff Daley said, they did so with the understanding that they were embarking on a long and difficult journey.

But they probably didn’t know how long and just how difficult.

Indeed, the process of transforming the former jute-making complex into a mixed-used property and destination has come complete with a number of challenges, many of them related to simply making various parts of the complex ready for redevelopment, said Daley, the executive director of Westmass since 2019.

But, in many respects, the Ludlow Mills redevelopment initiative has turned a critical corner, he noted, adding that much of the work to ready specific buildings and the property as a whole for development has now been completed, and the focus, increasingly, is on development.

“We’re certainly at a turning point, where we’re focusing our efforts on redevelopment as opposed to staying afloat and cleaning the site — it was a very dirty site back when they first bought it,” he told BusinessWest, referring to asbestos and ground contamination. “And there’s still a lot of cleanup left to do, but the focus is shifting from preserving and investing in the cleaning of the site to continuing that cleaning, which we need to do, but also looking now toward projects that we can invest good dollars in and get good returns from.”

“There’s a sense of place there as you come over the bridge. And we feel that this is an area that’s untapped and could be refreshed a little bit in terms of the roadway infrastructure and facades.”

That is certainly the plan, and the hope, with Building 8, or what many refer to as the ‘clocktower building,’ because it is home to the town’s most recognizable landmark.

With some imaginative financing assistance — Westmass will actually be taking an equity stake in the project — Winn Development will soon proceed with an initiative to transform the property into a 96-unit housing complex with retail on the ground floor.

Meanwhile, a $1 million project to put a new roof on Building 11, the largest structure on the campus, is underway, with the goal of facilitating development of that 480,000-square-foot property into another mix of housing and commercial businesses, and perhaps a parking garage as well.

Also, work is nearly complete on Riverside Drive, a new road that winds along the Chicopee River, which will connect the front of the property to the undeveloped acreage at its eastern end. Another road, hopefully to be funded with a MassWorks grant (word on the application should be received in the fall), will be built into that property, greatly facilitating its development, said Daley, noting there has been a good deal of interest expressed in that property due to a shortage of developable land in the region.

While the Ludlow Mills complex is certainly the dominant business story in Ludlow, there are other developments of note, starting in Town Hall. There, discussions continue about whether and how to change the community’s form of government, said Marc Strange, the recently hired town administrator.

“Officials are considering a mayoral form of government or a town manager/town council format similar to what exists in East Longmeadow,” said Strange, who served previously as director of Planning and Economic Development in Agawam and also as a selectman in Longmeadow, noting that the town has certainly outgrown its current format with five selectmen, a town administrator, and town meeting.

Karen Randall

Karen Randall says the business started by her father 60 years ago, has grown and evolved, just as Ludlow has.

“That’s a pretty big lift, and the town needs to be on board with it,” he explained. “For now, we’re chipping away toward that goal and making small, incremental changes to get everyone working in the same direction.”

Meanwhile, the community is looking to fund improvements to the downtown area that greets those as they come over the bridge that links the city to Indian Orchard, said Strange, adding that, while Ludlow has a large and diverse business community, it is always looking to build on this base.

“There’s a sense of place there as you come over the bridge,” he said. “And we feel that this is an area that’s untapped and could be refreshed a little bit in terms of the roadway infrastructure and facades.”

For this, the latest installment of its Community Spotlight series, BusinessWest turns its lens on Ludlow, a community that is a developing story in every sense of that phrase.

 

Growth Patterns

As she talked with BusinessWest outside the main entrance to Randall’s Farm, the business that her father started with what amounted to a vegetable stand, Karen Randall reflected on how much this enterprise — and the town of Ludlow itself — have changed over the past 60 years.

“None of this was here,” she said as she swept her hand in front of her and pointed out the many businesses now located along Center Street. “Ludlow has grown, and we’ve grown with Ludlow.”

Elaborating, she said the town benefits from its location — off turnpike exit 7 and near a number of growing residential communities, including Wilbraham, Granby, Belchertown, and others — and from its own growth; it has seen a number of new residential developments in recent years that have brought many young people to what was an industrial town that grew from the Ludlow Mills complex.

“If we can create some kind of plan for that area, that will be helpful, in terms of letting the development community know that we’re open for business and we’re ready to go if they want to come to Ludlow and put some shovels in the ground.”

Randall’s Farm has certainly benefited from the growth in and around Ludlow, she said, adding that it draws regular, daily traffic from those living in the community, but also steady traffic from those an exit or two down the pike.

“We have customers from within a 20-mile radius,” Randall said, adding that business has been solid this year, and she is expecting the fall, the busiest time for this enterprise, to be very busy as the region continues the two-year-long process of returning to normal from the pandemic and its many side effects.

The pandemic and its aftermath have brought changes at Randall’s — it has discontinued many of its entertainment-related endeavors, including a corn maze and workshops on various subjects — and challenges, including the workforce issues that have impacted businesses in every sector.

Overall, the pandemic has been for Randall’s what it has been for many business ventures, she said — a valuable learning experience.

“COVID taught us a lot of lessons on what works and what doesn’t, and it’s taught us that we can adapt quickly to whatever was coming down the pike,” she explained. “We didn’t miss a beat; we had the same issues that everyone else did — some people may have retired sooner, while others stopped working sooner during the first months of the pandemic, but we persevered, and I think we become stronger because of what we learned.”

Heading into the busy fall season, Randall’s, like other businesses, continues to face workforce challenges — there are some days when it does not have a donut maker, for example — but Randall believes it will be ready. The biggest challenge may be climate, specifically a lack of rain and its still-unknown impact on pumpkins, apples, and other crops grown locally.

“We’re hiring front-line people — we think we have the donut-making issue squared away — and we’re getting ready,” she told BusinessWest. “And we’ll see how this drought effects the season.”

planned redevelopment of Building 8 at the Ludlow Mills

Crews work to create a parking lot for the planned redevelopment of Building 8 at the Ludlow Mills, one of many new developments at the complex.

Overall, Ludlow has a large and diverse business community, said Strange, adding that one of the town’s goals is to improve infrastructure and make the Center Street corridor more attractive and even more of an asset.

Which brings him back to that area, technically the community’s downtown, that greets people coming over the bridge from Indian Orchard. The town will apply for a Community Compact grant to develop a broad economic-development plan that will encompass that area and others in the community.

“There’s some successful businesses in there, but we also have some empty storefronts,” he explained. “Our Memorial Park is there, and that’s where we’ll have Celebrate Ludlow. I think there’s a foundation for something special by way of economic development in that corridor.

“If we can create some kind of plan for that area, that will be helpful,” he went on, “in terms of letting the development community know that we’re open for business and we’re ready to go if they want to come to Ludlow and put some shovels in the ground.”

 

Run of the Mills

There should be some shovels hitting the ground soon at at Ludlow Mills, which has certainly been the focal point of development in Ludlow over the past decade. Indeed, continued progress is being made in what will be at least a 20-year effort to put the various spaces — as well as 40 acres of developable green space — to new and productive use.

Running through recent and upcoming developments, Daley started with Building 8, a long-awaited project that will bring another residential complex to the site after the highly successful renovation of Building 10 into apartments; there is now a lengthy waiting list for units in that property.

Ludlow at a glance

Year Incorporated: 1774
Population: 21,002
Area: 28.2 square miles
County: Hampden
Residential Tax Rate: $19.99
Commercial Tax Rate: $19.99
Median Household Income: $53,244
Median Family Income: $67,797
Type of Government: Town Council, Representative Town Meeting
Largest Employers: Hampden County House of Correction; Encompass Rehabilitation Hospital; Massachusetts Air National Guard; Kleeberg Sheet Metal Inc.
*Latest information available

The plan calls for apartments on the upper floors and a mix of retail on the first floor, Daley explained, adding that a coffee shop or sandwich shop would be an ideal use given the growing numbers of people living and working in the complex or within a few blocks of it. That growing population could inspire other types of retain as well, he added.

“We can’t overlook the fact that, once those apartments are done, there will be 160 units right in that vicinity, with an average of two people per unit. That’s a captured audience of more than 300 people to support small businesses; there might be a doctor’s office or lawyer’s offices, for example.”

To make the project happen in these times of inflation and soaring construction costs — an overall 28% increase in the projected price tag for this initiative — Westmass needed to get creative and take a “sizable equity investment” in the project, Daley said. He didn’t say how sizeable, but he did note that this step was needed to keep this project on track.

“It made the project go, and we really want to see the project go — for the town of Ludlow, for the mills, and, selfishly, we want to see that first floor activated so we can generate some revenues from retail and commercial businesses,” he explained.

As for Building 11, the next major target for redevelopment, a mix of housing and commercial retail would be ideal, he said, adding there will be options when it comes to what type of housing might be seen.

“There’s certainly a need for independent living, there’s a need for care living, dementia living, those types of facilities,” he said. “But also for more market-rate housing.”

Overall, the Ludlow Mills property is well-positioned for development, Daley said, adding that everything in its inventory, from commercial and industrial space to raw land, are in demand.

“We have a lot of interest in not only the land, but everything,” he told BusinessWest. “There’s not a lot of inventory out there — for commercial properties or green space. Our property is flat and mostly dry, so it becomes pretty attractive for development.”

As Daley said, Ludlow Mills has been a longer and more difficult journey than anyone could have anticipated when the property was acquired in 2011, but an important turning point has been reached, and a new chapter in this story is set to unfold.

 

George O’Brien can be reached at [email protected]