Business Events...
Small Business Seminar - Monday, March 15th - POSTPONED
Due to unforseen circumstances, we have postponed the ' Cool Tools' small business seminar that was scheduled for Monday, March 15th. It will be held at a later date.
The new date and time will be posted on this site the week of March 15th. We apologize for any inconvenience.
Winter Sundowner - Thursday, March 18th - POSTPONED
Our first Sundowner for 2010 which was scheduled for Thursday, March 18th at Billerica Crossings has also been postponed due to a conflict with several other town events on the scheduled date.
The news date and time will be posted on this site the week of March 15th. We again apologize for any inconvenience.
March Membership Meeting - Thursday, March 25th
Our March Membership Meeting will be held on Thursday, March 25th at the Hampton Inn - Bedford / Burlington at 8:00 am.
Our guest speaker will be Stephanie Cronin, the Economic Development Coordinator for the Town of Billerica, who will be discussing upgrades to the Town's Economic Development web pages and new permitting guide.
Refreshments will be available beginning at 7:45 am and the meeting will begin at 8:00 am.
Town of Billerica - Permitting Guide Now Available
The Town of Billerica website now features a Permitting Guide as well as some significant upgrades to their Business Assistance webpages.
The permitting guide is a comprehensive document and invaluable to anyone who is looking locate or expand their business in Billerica. The document can be downloaded from the Business Assistance page from the subheading 'Local Permits and Licenses'.
In addition to the Permitting Guide, the Business Assistance pages on the town's website also feature commercial property site finder, list of key town contacts, as well as business and financial resources.
To learn more about the resources available, including the Permitting Guide, see the Business Assistance section of the Town of Billerica website at www.town.billerica.ma.us
Town of Billerica - Community & Business Guide
The Town of Billerica's new town manager John Curran and Economic Development Coordinator Stephanie Cronin are working on producing an updated Billerica Community and Business Guide with Connecticut based Global Design and Publishing.
This effort will update the community guide, last produced in 2007, with current information about the town and it's businesses and will be used as a marketing guide. The guide is produced at no cost to the town as all production costs are covered by advertising revenue.
The Alliance is working with the town and Global Design and Publishing on this effort. Members may be contacted by Global Design regarding the opportunity to advertise in this publication.
If you have questions regarding this effort or wish to advertise in the guide, please contact the office for additional information at 978-667-4174 or via email at info@billerica-alliance.org.
Lowell Small Business Assistance Center - Receives $50G Grant
From February 17th Lowell Sun Article by Dennis Shaughnessey
The butcher, the baker and the candlestick maker; small businesses that are struggling to make it through a punishing recession.
Hoping to prime the economic pump, U.S. Rep. Niki Tsongas was on hand in Lowell yesterday, along with Robert Nelson, district director of the federal government's Small Business Administration, and Andre Porter, executive director of the state's Small Business Office, to present a $50,000 federal grant to the Lowell Small Business Assistance Center. The money will be used to establish a micro-loan fund that will provide small businesses and startups in Lowell with needed capital.
"Small businesses, like the ones this grant will benefit, exemplify much of the dynamism and job creation potential in our economy," Tsongas said. "The words 'small business' means different things to different people. It's the small mom-and-pop store that's trying to keep going or somebody at home trying to start a business or an entrepreneur with a great idea who needs research-and-development assistance. It's the company that employs a few people but wants to grow beyond that."
It's people like Mike Kit, who opened the Eggroll Cafe on University Avenue about five years ago and employs 10 full- and part-time employees. Kit has leaned on the Lowell Small Business Assistance Center in the past for help with such things as accounting tips and basic business practices.
To read the full article, see the Lowell Sun's website at: http://www.lowellsun.com/business
Share Your Expertise
The Alliance is looking for local business owners who would like to be a resource for new businesses as part of it's effort to update the Business Assistance Task Force (BATF) resource listings. The BATF resource information will be a new page on the Alliance's website and will contain a library of organizations, businesses and others who assist small business. The mission of this effort is to facilitate access to appropriate resources for existing businesses in Billerica.
If you would like to become one of the resources who will be listed on the BATF page, please contact the office for further details at 978-667-4174 or via email at info@billerica-alliance.org
Local Business News...
Merck Moving US Base to Billerica
Excerpts From March 4th Boston Globe Article By Robert Wiseman
The chairman of German drug and chemical giant Merck KGaA said yesterday that he plans to move the headquarters of the company's US chemicals business, which sells lab materials, life sciences tools, and pigments, to Billerica from outside Philadelphia.
That division will be named EMD Millipore once Merck has completed its $6 billion acquisition of Billerica life sciences toolmaker Millipore Corp. in the coming months, Merck chairman Karl-Ludwig Kley (pronounced kly) said during an interview at the Globe. But he would not specify how many new jobs could be created in Billerica.
Kley said the company determined over the past decade that it needed to build up its presence on this side of the Atlantic. The Millipore deal marks its second big US acquisition, both of which were in Massachusetts. "We have a US strategy, but I have to admit we have no Massachusetts strategy,'' he said. "That everything we do turns out to be in Massachusetts is good luck for us and for Massachusetts. I think it has, of course, to do with the fact that Massachusetts is an extremely attractive state to do business for research or innovative companies.''
With its agreement this week to purchase Millipore - in a deal stock analysts valued at $7.2 billion including the assumption of debt - Germany's Merck will emerge as a significant employer in eastern Massachusetts and southern New Hampshire. The company, established in 1668, calls itself the world's oldest pharmaceutical and chemical company. It is not connected to US-based Merck & Co. and until recently has not been well-known in the United States.
In 2006, it paid $13 billion to buy Swiss-based drug maker Serono AG, which has its US headquarters in Rockland. Merck has since boosted Serono's Massachusetts employment from 500 to 850 jobs and moved its US biopharmaceutical headquarters to Rockland, naming that division EMD Serono Inc. Merck has to do business in the United States under the name EMD - which stands for "Emanuel Merck, Darmstadt,'' the initials of a company executive and the German city where it is based - because America's Merck owns exclusive rights to the name here.
Millipore has more than 6,000 workers worldwide, including 1,676 in this region: 585 in Billerica, 403 in Bedford, 159 in Danvers, 56 in Burlington, and 473 in Jaffrey, N.H. The company sells a range of filtration systems and other life sciences equipment to biotechnology, pharmaceutical, and academic research laboratories. Kley stopped short of predicting a large increase in Massachusetts jobs. But he said the agreement to buy Millipore was driven by Merck's need to expand in the United States and North America.
To read the full article, see the Boston Globe's website at www.boston.com.
Ayer and Billerica - Top 10 Massachusetts Business Growth Communities
Sections Reprinted from 2/11 Lowell Sun Article by
Alexandra Mayer-Hohdahl
It may be the smallest community in Greater Lowell, but Ayer appears to have a leg up on its neighbors when it comes to economic development.
The Nashoba Valley town was listed among the Massachusetts communities best positioned for business growth in a "Top 10 of 2010" list compiled by Business Development Strategies Inc.
The Medway-based firm, which helps expanding companies secure government incentives, also identified Billerica as a community "to watch" in 2010.
BDS President Lynn Tokarczyk said the top-10 and watch lists were developed to recognize those communities that succeed in attracting "thriving, recession-proof businesses" despite the economic downturn. She also hopes the list will spur other towns
to become more proactive in attracting new business.
"We thought it would be a unique exercise -- something new, a little different and exciting," she said. "There are many, many, many great communities across the state. It was a challenge to narrow them down to just 10."
To generate the list, BDS used a team of researchers who first identified those communities with significant business-expansion projects over the last few years. The team then applied different criteria to whittle down the list, including the availability of development-ready sites, the existence of infrastructure, and access to labor and transportation systems.
Most importantly, Tokarczyk said, BDS was looking for places that are business-friendly. "All of these communities have a very pro-business climate -- streamlined permitting processes, marketing efforts, economic development teams," she noted. "They are very interested in attracting and retaining businesses in their communities." Ayer fits the bill, Town Administrator Shaun Suhoski said. He said Ayer has aimed to attract "sound business development without sacrificing the quality of life of residents."
Billerica Town Manager John Curran also welcomed his community's presence on the BDS lists. "I have only been the town manager for five weeks, but one of the things I already see is that there is a great opportunity to take advantage of business development," he said. He cited an ongoing effort to market the Route 3 corridor, which Billerica is a part of, as the new "technology belt.""The Route 128 corridor used to be the place to go years ago," he noted. "Now, it's expanding out a bit to this area."
Billerica, which has an economic development person on staff, also wants to attract companies to vacant spaces on Middlesex Turnpike that could easily be converted, Curran said. Billerica is already home to its share of businesses, including companies representing what Curran calls "the new frontier of business" -- biotechnology and renewable energies.
"Billerica is in a good situation," he noted. "It's a big community, an affordable community, with a good-sized work force and a lot of amenities in town."
Assets waiting to be tapped is what Business Development Strategies Inc. said about Ayer and Billerica in its "Top 10 of 2010" report:
* Ayer, Top 10 of 2010 community: "This small town scores big in terms of available real estate and infrastructure and the ability to expedite projects. The town is capable of attracting businesses in record-breaking time, including companies such as L3 Communications ESSCO."
* Billerica, community to watch in 2010: "Billerica has available properties to offer to its corporate users. This town is an attractive location in northern Massachusetts, and local officials understand what it takes to attract new development and are working to promote vacant properties."
To read the full article, see the Lowell Sun at: www.lowellsun.com
Lowell Small Business Assistance Center - Services for Local Businesses
The Lowell Small Business Assistance Center is now in it's tenth year of providing services to small business in Lowell and the surrounding communities.
The center, which is a program of Community Teamwork in Lowell, works in collaboration with the City of Lowell, UMass Lowell and Middlesex Community College. It's services are available to residents amd businesses in Billerica.
The mission of the center is to provide entrepreneurs from ethnically and economically diverse groups with the education, tools, and resources necessary to create sustain and expand small businesses and to assist, stabilize and grow existing businesses through education and technical support.
Entrepreneurial Training - The Center offers a broad range of services and support to individuals who are interested in starting a small business. These services include education, counseling, legal assistance, financing assistance, and mentoring.
Seminars -The Center offers seminars, workshops and classes on subjects that are relevant to the operation of existing businesses.
Crisis Intervention - The Center works with small companies that are experiencing difficulties and provides problem assessment, general counseling and specific problem solving expertise
Technical Assistance -The Center is working with the City of Lowell to provide a Best Retail Practices program that provides marketing assistance for small businesses.
For more information about the Lowell Small Business Assistance Center contact them at 978-322-8400 or see their website at www.lowellsmallbusiness.org.
Lowell 5 Names New President
From January 27th Lowell Sun Article by Chris Camire
Robert Caruso, the top executive at the Lowell Five Cent Savings Bank, unexpectedly relinquished one of his three titles -- president -- but will retain his positions as chairman and CEO.
David Wallace, previously executive vice president, has been named president. Wallace is the son of the late Gerald Wallace, who was bank president from 1971-1994, preceding Caruso.
In an interview at the bank's corporate headquarters yesterday, Caruso said both he and the bank are healthy. But he recently turned 60 and felt it was time to move on while ensuring the right person was promoted from within the company.
"We at this bank have always had a practice of creating opportunities for people to move up," said Caruso, who has been with the bank for 32 years, the last 16 as president. "I think it gives our employees confidence if they know that if they stick with the company and excel, they can grow intellectually as well as improve their position within the company."
Founded in 1854, the Lowell Five is Lowell's oldest financial institution. It employs more than 200 people at 14 branch offices and holds $670 million in assets.
To read the full article, see the Lowell Sun's website at www.lowellsun.com/business.
Enterprise Bank Net Income Up 43% in 2009
From January 28th Lowell Sun Article by Dan O'Brien
Alliance member, Enterprise Bank, reported Tuesday January 27th a 43 percent increase in net income for the year, triggered by deposit growth of 28 percent and loan growth of 14 percent.
"We're really pleased, and we feel that the current environment is great for community banks like us," said Enterprise CEO Jack Clancy, in reference to negative news attributed to big national banks. "I think that's reflected in our loan and deposit growth."
For 2009, Enterprise reported net income of $7.9 million (96 cents a share), up from $5.5 million (69 cents a share) in 2008. For the fourth quarter of 2009, net income was $2.8 million (32 cents a share), up from $29,000 (break-even) in the fourth quarter of 2008. Total deposits ($1.12 billion) and loans outstanding ($1.08 billion) are above $1 billion for the first time.
During the last quarter, Enterprise executed an $8.8 million additional stock offering, which was oversubscribed (demand for stock surpassed what was planned). While the stock offering resulted in a slight dilution to earnings -- Clancy estimated it to be no more than 2 cents a share -- it provided additional capital for the bank to guard against its reserves.
"It just gives us flexibility to continue our growth," said Clancy , saying construction of a permanent facility in Derry, N.H., is expected to be completed by late spring. "We don't have capital-requirement issues."
Enterprise also announced that it was boosting its quarterly dividend by 5.3 percent, from 9.5 cents a share to 10 cents a share.
To read the complete article, see the Lowell Sun's website at www.lowellsun.com/business
Small Business Administration Resources Online
The Small Business Administration has many resources online. These include the SBA ARC Loan Program. If your small business is stressed meeting expenses during these economic times, this new loan program designed just for you.
SBA’s America’s Recovery Capital Loan Program can provide up to $35,000 in short-term relief for viable small businesses facing immediate financial hardship to help ride out the current uncertain economic times and return to profitability. Each small business is limited to one ARC loan.
Since June 15, lenders across the country have provided millions of dollars in capital to small businesses through the America’s Recovery Capital (ARC) loan program. Created under the Recovery Act, the temporary ARC program offers interest-free loans to viable small businesses, which carry a 100 percent guaranty from the SBA to the lender and require no fees paid to SBA. Loan proceeds are provided over a six-month period and repayment of the ARC loan principal is deferred for 12 months after the last disbursement of the proceeds. Repayment can extend up to five years. To learn more about this program, see the Massachusetts SBA website at www.sba.gov/recovery.
To learn more about the SBA's and all of it's programs, see the Massachusetts SBA website at www.sba.gov/ma.
Bowen On Billerica
It's no secret that Billerica is a lively community. It's a town of newsmakers, and one very involved with the local news sources. For years, the staff of the Billerica Minuteman has been covering the many and varied stories of America's Yankee Doodle Hometown. That coverage has now been expanded with a twice-a-week radio show on WCAP 980 AM in Lowell called "Bowen on Billerica."
- Mondays from noon - 1 p.m., Max Bowen, the editor of the Billerica Minuteman and co-host Jack Baldwin of WCAP discuss the headline-making events in town and chat with guest speakers. Regular segments are a part of this broadcast, including a business spotlight, school news and updates from the police department, Council on Aging, and many other Billerica organizations. Almost 30,000 people across the Merrimack Valley tune in for this show.
- Thursdays from 7:45 - 8 a.m., Max joins the crew of the morning broadcast to give over 50,000 listeners an update on what has made that week's edition of the Minuteman.
Max is looking for news from local organizations and businesses as well as guests for his show. For more information or to suggest a topic, call Max Bowen at 978-371-5726, or e-mail him at mbowen@cnc.com.
Update Your Contact Info with Billerica Police
The Billerica
Police want to know who the key contacts are for your business.
The Police Department website now has a page where you can enter the key
contacts for your company. By updating this information the Police can insure
that they are able to reach you in the event of an emergency involving your
business or your property.
To register your key contacts, please see the online form on the Billerica Police website at: www.billericapolice.org. Once there, you can enter as many as three emergency contacts as well as information regarding alarms for your property.
It is also possible to register your business and your home for the 'CodeRED Emergency Notification' system at the Police website. The CodeRED Emergency Notification System notifies residents & businesses about a potential emergency circumstance, particularly critical when information is time sensitive. The system allows the police department to rapidly notify specific geographical areas by telephone. What may have taken many hours and much effort to accomplish in the past can now be done in a fraction of the time with little impact on officer deployment.
To register your home or business for CodeRED, see the Billerica Police Department website at www.billericapolice.org. Once there, look for the 'CodeRED' logo on the left hand side of the page. Once you have been directed to the CodeRED site, you can register either a residential or business address by clicking on the appropriate link at the top of the form.
Questions regarding either of these services can be directed to the Billerica Police department email at systems@billericapolice.org.