Company Notebook

Company Notebook

City, MGM Springfield Win Economic-development Award

SPRINGFIELD — MGM Springfield and the city of Springfield Office of Planning and Economic Development (OPED) have received a 2019 Excellence in Economic Development Award from the International Economic Development Council (IEDC) for the MGM Springfield project. The award was presented by the IEDC last month at its annual conference in October in Indianapolis. The Gold Excellence in Public-Private Partnership Award was presented to Brian Connors, the city’s deputy director of Economic Development, and was the only award category highlighted during the conference keynote event. The award recognizes outstanding and innovative development projects that have significantly enhanced revitalizations. OPED’s team was led through the MGM Springfield project by now-retired Chief Development Officer Kevin Kennedy, and also included Phillip Dromey, deputy director of Planning, and Scott Hanson, principal planner. The MGM Springfield project represented a $960 million private investment, resulting in several new-to-market amenities, including a downtown movie theater, bowling alley, ice-skating rink, four-star hotel, and several new retail and restaurant offerings. In addition, MGM’s commitment to populate existing offsite entertainment facilities became another highlight to economic spinoff, as did the commitment to $50 million each year in spending with local vendors. The project has created several thousand construction and permanent jobs and greatly enhanced local revenues, which helped fund additional public-safety, early-education, and park improvements.

United Personnel Named Among Top 100 Women-led Businesses In Massachusetts

SPRINGFIELD — United Personnel announced it has been named one of the top 100 women-led businesses in Massachusetts by the Commonwealth Institute, a nonprofit that supports female business owners. The list, published in the Boston Globe, was developed based on revenue, number of full-time employees in the state, team diversity, and innovation. The rankings feature a wide range of industries, including manufacturing, business services, healthcare, education, human services, and retail. United Personnel was number 75 on the list, and was one of only two companies based in Western Mass. represented. Focused on helping to connect people with job openings at local companies, United Personnel has seen decades of success as a women-led organization. Founded by Mary Ellen Scott in 1984 with her late husband, Jay Canavan, United Personnel is now on its second generation of female leadership under President Tricia Canavan.

Hampshire College Maintains Accreditation, Advances Plans

AMHERST — Hampshire College remains in compliance and will continue its accreditation, according to a vote by the New England Commission of Higher Education (NECHE) at its meeting on Nov. 22. NECHE reviewed Hampshire’s progress report and five-year plans before acting to continue the college’s accreditation. The commissioners lifted their notation on Hampshire’s compliance with the standard of organization and governance, citing significant progress in this area. NECHE recognized such progress as the hiring of a new president, substantial achievements with respect to good practices for governing boards, and considerable progress in realistic planning with respect to enrollment, fundraising, and finances. The commissioners continued Hampshire’s notation on the standard of institutional resources and asked the college for a full progress report in two years, in December 2021. A team of Hampshire College administrators and trustees, led by Wingenbach and board chair Luis Hernandez, met with the NECHE commissioners on Nov. 21 and reported that Hampshire’s leadership is secure and its board of trustees governance is strong. The college is actively recruiting new students for 2020, its 50th-anniversary year, as it plans to rebuild to full enrollment by 2023-24. The college has also been conducting a rapid, community-wide process to reinvent its curriculum and student experience. In the coming months, Hampshire will draw on the continued support of its alumni, donors, friends, and community members to meet admissions and fundraising goals. Hampshire College also kicked off a major capital campaign, announcing it has already raised $11.2 million in gifts toward its campaign goal of $60 million by 2024. “Change in the Making: A Campaign for Hampshire” is currently led by four alumni co-chairs: Ken Burns (’71), award-winning documentary filmmaker; Gail Caulkins (’73), president of the Greenacre Foundation and former Hampshire College trustee; Lucy Ann McFadden (’70), retired astrophysicist, Goddard Space Flight Center, NASA, and a member of the Hampshire board of trustees and chair of its advancement committee; and Julie Schecter (’71), director and trustee of numerous organizations, including the SHIFT Foundation, co-founder of Hampshire’s Ethics and the Common Good program, vice chair of Hampshire’s board of trustees, and chair of its trusteeship and governance committee. The co-chairs are working actively to secure additional major gifts, supported by a campaign council, a diverse group of volunteers that represents the board of trustees, major donors, college leaders, faculty, staff, students, and parents. The campaign is administered by Chief Advancement Officer Jennifer Chrisler and the college’s Advancement Division staff.

People’s United Bank to Close Three Springfield-area Branches

SPRINGFIELD — Following its acquisition of United Bank, People’s United Bank plans to close three Springfield-area branches in April, all of them because they are near other People’s United locations. The closures include the former United branch at 1355 Boston Road in Springfield, the former United Branch at 1414 Main St. in Springfield, and a former Farmington Bank location at 85 Elm St. in West Springfield that People’s United acquired in 2018. All employees have been offered jobs at other People’s United offices. People’s United Financial announced in July it was purchasing United Financial Bancorp for $759 million.

Elms College Ranked in Top 15% of State’s Best Schools for Veterans

CHICOPEE — Elms College ranks in the top 15% of 2020 Best Colleges for Veterans in Massachusetts, according to data-analytics company College Factual. The college is also in the top 15% of colleges and universities in the company’s national rankings. In the list of Best Colleges for Veterans in Massachusetts, Elms College was rated ninth out of 70 higher-education institutions for veteran friendliness as reviewed by College Factual. Elms improved its standing five slots over last year’s 14th position. According to College Factual’s national list, Elms College moved from the top 25% to the top 15% with a rating of 214 out of 1,751 institutions, improving its position by 225 slots over last year’s standing at 439. This list highlights colleges and universities that are working hard to provide quality educational outcomes to veterans, active-duty military students, and their families, College Factual stated. Some of the factors taken into account by College Factual include affordability to veterans, support services, and resources specific to the needs of veterans, whether they are traditional or non-traditional students.

UMassFive Opens Branch at Northampton VA Medical Center

NORTHAMPTON — UMassFive College Federal Credit Union introduced its newest branch location at the Northampton VA Medical Center. As of October, the Northampton VAF Federal Credit Union has formally merged with UMassFive College Federal Credit Union, and former Northampton VAF members have transitioned to banking with UMassFive. With this merger, current employees of the Northampton VA Medical Center and their immediate family members are now eligible for UMassFive membership. Along with the merger, the existing credit-union branch located in Building 1, Room B204 of the Northampton VA Medical Center has been completely renovated. The new, open floor plan includes seated service areas where UMassFive representatives can provide members access to a range of credit-union products and services, including checking, auto loans, home-equity loans, solar loans, mortgages, credit cards, and investment guidance. The space also now features a video teller machine that can be accessed in the branch entryway, and allows members to perform video transactions with UMassFive tellers, even while the branch is closed. As with other UMassFive locations, members at the Northampton VA branch will have access to free financial workshops on topics like budgeting essentials, homebuying, identity theft, and planning for retirement. The hours for this new UMassFive branch are Monday through Friday from 9 a.m. to 1 p.m. Off-hours access to the lobby video teller machine are available when the building and basement are open, and during regular video-teller hours. Any credit or debit card may be swiped for after-hours entry.

Freedom Credit Union Launches Cherish the Children Campaign

SPRINGFIELD — To a child in need, one special gift can be a holiday wish come true. That’s the spirit behind Freedom Credit Union’s 12th annual Cherish the Children campaign, which provides presents to hundreds of local children in time for the holidays. Freedom Credit Union (FCU), headquartered on Main Street in Springfield and serving members throughout Western Mass. through 10 additional branches, will host this year’s endeavor through Dec. 23. Equipped with ‘wish lists’ of names, ages, and gift ideas from the local area offices of the Massachusetts Department of Children and Families (DCF), FCU aims to provide gifts for a total of 600 children in need. From the wish lists, FCU has produced a tag for each child, which they will place on holiday trees at all Freedom branches, excluding the Roger L. Putnam Vocational Technical Academy. Employees and members are encouraged to choose one or more tags from a tree, purchase the item the child has requested, bring it to the branch (unwrapped and with tag attached), and place it under the tree. Monetary donations are also welcome, as FCU’s own ‘elves’ will be going on a festive shopping spree at local stores that provide them a discount for this campaign.

Yankee Home Improvement Holds Annual Food Drive

CHICOPEE — For the second year in a row, Yankee Home is engaging customers in a pay-it-forward event to provide food for those in need this holiday season. For every non-perishable food item donated, Yankee Home will give customers 1% off the cost of their home-improvement service, up to 10%. All food items will be donated to Rachel’s Table, a program of the Jewish Federation of Western Massachusetts that works to eliminate hunger and reduce food waste in the community. Through the end of December, Yankee Home will be accepting non-perishable food items Monday through Friday from 9 a.m. to 5 p.m. at its 36 Justin Dr. headquarters in Chicopee. While the discount is capped at 10% of the total cost of the service, people are encouraged to donate as much as they can. The discount applies to installed, new work only. A Yankee Home specialist can provide complete details.

Florence Bank Receives Award From U.S. Small Business Administration

FLORENCE — Florence Bank was recently recognized by the U.S. Small Business Administration (SBA) as the Western Massachusetts Third Party Lender of the Year for loans the bank administers to small businesses in the area. Michael Davey and Erin Couture, both vice presidents and commercial loan officers with the bank, accepted the award on Nov. 8 at an event held during SBA’s annual meeting at Clark University in Worcester. Davey explained that third-party loans, called SBA 504 loans, are offered by the bank in collaboration with certified development corporations such as Granite State Development Corp., Bay Colony Development Corp., and BDC Capital/CDC New England. He said the program allows small-business owners who might be lacking the traditional 20% down payment to purchase business property with only 10% down, while also reducing the bank’s exposure to risk.

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