News
Eastern Bank Announces Merger with HarborOne
Eastern Bankshares, Inc. and HarborOne Bancorp, Inc., the parent company of HarborOne Bank, have entered into an agreement to merge. Both Eastern Bank and HarborOne share deep local roots and a strong commitment to our customers and the communities we serve. The anticipated merger will create a $31 billion bank, further solidifying Eastern as the Greater Boston region’s leading community bank, delivering enhanced value for our customers and shareholders, greater support for our communities, and increased
Metro Credit Union Partners with Greenlight to Help Parents Raise Financially Smart Kids and Teens
Metro Credit Union today announced a partnership with Greenlight® Financial Technology, Inc. (“Greenlight”) to better serve families and help the next generation build healthy financial futures. Metro Credit Union members will have free* access to Greenlight’s award-winning family finance app, available through the Greenlight for Credit Unions program.** 91% of kids and teens believe they need financial knowledge and skills to achieve their life goals, and 94% of parents agree.*** Still, only 35 states
Salem Five Bank Joins Effort to Expand Home Ownership Opportunities in Boston
Salem Five is partnering with the City of Boston in a unique Co-Purchasing Housing Pilot Program, which was created to make home ownership more easily attainable for middle-income residents, the Bank announced today. Developed by the administration of Boston Mayor Michelle Wu and announced recently at her State of the City Address, the program allows different buyers to pool their financial resources to purchase multifamily homes. To further help these homebuyers, the program offers forgivable loans of
TransAction Associates and Middlesex 3 TMA Announce Additional Shuttle Service to Burlington
Expanding Access: Northeastern Co-op Shuttle Adds Second Route to Burlington & Bedford The Middlesex 3 Transportation Management Association (M3TMA) is proud to announce the expansion of its Northeastern Co-op Shuttle service connecting Boston with key employment locations in Burlington and Bedford. What began as a pilot project in July 2024 with a single 14-passenger shuttle has grown into a thriving commuter solution, thanks to strong demand, smart technology, and supportive partnerships.On April 1,
Understanding 1031 Exchange with Brookline Bank: Insights from an Industry Expert
Understanding 1031 Exchange: Insights from an Industry Expert Thomas E. St. Jean is Senior Vice President and Manager of Brookline Bancorp 1031 Exchange Services LLC, and has provided Qualified Intermediary services for the last 24 years. Deferring Capital Gains on Investment Real Estate Sales 1031 Exchange is a tax-deferred transaction that allows investors to sell a property and defer payment of capital gains tax and depreciation recapture when the requirements and process for deferral are followed. In
MLSC Launches Next Round of MassNextGen Grants
The MLSC has launched the next round of the Massachusetts Next Generation (MassNextGen) Initiative to support underrepresented entrepreneurs. The program will fund up to $100,000 per awardee and expand their networks by providing year-round coaching sessions with serial entrepreneurs and subject matter experts from the life sciences ecosystem. In addition, awardees will highlight their company to sponsors, awardees, and representatives of venture capital firms at the end of the program year in a
Rockland Trust Accepting Submissions for 2025 ''Small Business, Big Dreams'' Contest
Beginning March 3rd, Rockland Trust will accept submissions from local businesses for the exciting chance to win $25,000 to help their dreams come true!*There are two steps to the Small Business, Big Dreams Contest application process:Step 1: You must qualify! Take our qualification survey by clicking the "Get Started" button below. You do not need to be a Rockland Trust customer to apply! View our Official Contest Rules.Step 2: If your business qualifies, you will complete a written business overview
Herb Chambers Companies Selling for $1.34B to Asbury Automotive Group
Georgia’s Asbury Automotive Group will acquire New England’s Herb Chambers Companies for $1.34 billion in a deal announced Tuesday.Asbury Automotive Group expects to close the sale of Herb Chambers, which includes 33 dealerships, 52 franchises, and three collision centers in Massachusetts and Rhode Island, later this year.The sale will mark the end of decades of ownership by Herb Chambers, the man of the same name. Chambers bought his first automobile dealership in New London, Connecticut, in 1985. The
HYKU Biosciences Relocates to Burlington
HYKU Biosciences is preparing to open doors on a new laboratory, expanding the number of biotech companies operating in Burlington.Kathy Dunsmore and Andrea Zuhl were before the Board of Health at their January 28 meeting, requesting a Biological Safety Permit for HYKU’s new facility located at 5 Burlington Woods Drive.HYKU was founded in 2023, originally located in Lexington, and recently moved to Burlington. Per their website, the company is devoted to “pioneering precise covalent targeting of
Metro Credit Union Named to List of Fastest-Growing Commercial Lenders in Massachusetts
Metro Credit Union, the largest state-chartered credit union in Massachusetts, today announced that it has been recognized by the Boston Business Journal as one of the fastest-growing commercial lenders in the state. Metro ranked third on the list of top credit union lenders, based on the year-over-year change in dollar value of commercial loans, with an increase of $39.3 million over the previous year. “Building strong relationships in our communities is important to us, and we’re proud of the work our
Massachusetts Announces Unemployment Insurance Settlement with USDOL
The Healey-Driscoll Administration and the United States Department of Labor (USDOL) have reached a $2.1 billion settlement to be paid over 10 years regarding an inherited liability to the state’s Unemployment Insurance Trust Fund (UITF) stemming from an improper overdraw of federal pandemic unemployment benefits during the pandemic. This settlement agreement reflects the outcome of the Healey-Driscoll administration partnering with federal partners to determine Massachusetts’ total liability and bring
Massachusetts Workforce Data Reporting
As we kick off 2025, the Healey-Driscoll Administration wants to bring an important update to your attention and the attention of your members. You will recall, Governor Healey signed the Wage Equity legislation last year and we appreciate the engagement by the business community to make this a reality. This new law includes a data reporting requirement – an opportunity to inform your members as we work collaboratively to address wage equity in Massachusetts. Good news! Covered employers can simply file a
.png)
Governor Healey Announces Efforts to Make MA a Global Leader in Applied AI Innovation
Boston — Today, Governor Maura Healey launched the Massachusetts AI Hub, a groundbreaking effort to make Massachusetts a national leader in artificial intelligence innovation. This pioneering initiative will drive cutting-edge collaboration between government, industry, startups and academia, pursue solutions to the world’s most critical challenges, and unlock economic opportunity for businesses and residents across the state. The Massachusetts AI Hub will be established at the Massachusetts Technology
Rockland Trust Announces Acquisition of Enterprise Bank
The agreement will unite two relationship-driven organizations and expand RocklandTrust’s footprint into northern Massachusetts and southern New Hampshire. Rockland, Massachusetts and Lowell, Massachusetts (December 9, 2024) - Independent Bank Corp., parent of Rockland Trust Company (“Rockland Trust”), and Enterprise Bancorp, Inc., parent of Enterprise Bank and Trust Company (“Enterprise Bank”), have signed a definitive merger agreement pursuant to which Enterprise will merge into Independent and
SBA: 5 Small Business Trends for 2025
As we wrap up and reflect on 2024, we look forward to what 2025 holds for small businesses. The outlook is encouraging: According to research(Link is external), the majority of small business owners are optimistic about America’s economy. That optimism, paired with a well-informed small business strategy, could mean plenty of success in the year ahead. When you’re formulating your plans for 2025, consider the following trends:E-commerce. Online sales aren’t exclusive to the big boxes of the world anymore.
.png)
Governor Healey Signs Economic Development Bill
BOSTON – Governor Maura Healey today signed into law the Mass Leads Act, an economic development bill that will make Massachusetts a global leader in emerging industries like climatetech and applied artificial intelligence (AI), while also building on the success of the state’s renowned life sciences sector. The package will create jobs, support business growth, expand workforce development programs and support rural and regional economic development initiatives. Governor Healey will host a ceremonial
MA Legislators Pass Economic Development Bill
Today, the Massachusetts Legislature passed a sweeping economic development bill authorizing a nearly $4 billion infusion into the Commonwealth’s economy while making wide-ranging policy changes to make Massachusetts more competitive. The bold investments in H.5100, An Act relative to strengthening Massachusetts’ economic leadership, will stimulate new and proven industries, support workforce development and talent retention, and modernize economic growth strategies. Provisions of the bill will support
Rules Take Shape For Town Center Signage District
Burlington’s Signage Subcommittee is finalizing the language for a new bylaw that would establish signage districts and create the rules for Town Center, the first such district the subcommittee has focused on. “You need to start somewhere,” said signage subcommittee member Betsey Hughes, “In terms of the ongoing saga of Burlington town signage as our journey, this is our first step.” Rules around business signage have been contentious in Burlington, according to the subcommittee. In fact, the
TransAction Associates is Creating Commuter Sustainability for Burlington Workers
A new option in more sustainable commuting is now available for Burlington businesses thanks to a grant by Healey-Driscoll Administration to assist Transportation Management Associations (TMAs). TMAs are non-profit membership-based organizations that provide shuttle services to improve transportation options in a specific region or community.The goal is to reduce single-occupancy vehicle trips, lower greenhouse gas emissions, and expand mobility.One group that’s benefitting from the grant is TransAction
Burlington Seeks Input on Signage for Businesses in Town Center
The Town of Burlington is working on modernizing the Signage Guidelines for the Town Center (see map below) and would like to invite you to please take a minute to complete the survey below. Burlington has worked to create a town center that fosters social and economic growth. A key part of this is signage. To support the future development of the Town Center, a Signage Committee was formed to review current rules and develop new ones. If you have a business in this area, we want to hear from
Long's Jewelers' Craig and Judd Rottenberg Inducted into National Jeweler Retailer Hall of Fame
Craig and Judd Rottenberg of Long’s Jewelers were inducted into the National Jeweler Retailer Hall of Fame in the Multi-Store Independent category.Editor’s Note: This story first appeared in the print edition of the 2024 Retailer Hall of Fame. Click here to see the full issue.From studying marketing to banking on Wall Street, brothers Craig and Judd Rottenberg of Long’s Jewelers didn’t appear to be on the path to taking over their father’s jewelry business, but ultimately their outside experience made them
Burlington Awarded Green Communities Funds
Burlington has been awarded an additional $250,000 to enhance energy efficiency in town government, with the funds slated to go towards pump replacement and building management systems at Francis Wyman and Pine Glen Elementary Schools. “I am proud that Burlington is among the recipients of the Green Communities Grant,” said Burlington State Representative, Ken Gordon. “This funding supports energy efficiency and clean energy projects that will enhance Burlington’s energy conservation efforts and advance
The Broad Institute Opens High-Tech Campus in Burlington
In a major coup for Burlington’s growing life sciences economy, the Broad Institute of MIT and Harvard opened a new high-tech facility on Blue Sky Drive. Governor Maura Healey and Economic Development Secretary Yvonne Hao attended a ribbon cutting, where they commended Massachusetts, Burlington and the Broad Institute for fostering a lifesaving ecosystem in the Commonwealth.View Full BCAT Coverage From The Broad Institute: "Broad’s expansion to Burlington, Massachusetts is official! We built the new
.png)
Massachusetts EOED Announces Updates on FY25 Final Budget
The Massachusetts Executive Office of Economic Development shared that today, Governor Healey signed a $57.78 billion state budget for Fiscal Year 2025 (FY25). The Healey-Driscoll administration is proud that this budget delivers on our shared goals of making Massachusetts more affordable, equitable, and competitive. Investments that are included in the final budget:Investing in the FundamentalsUrban Agenda – $1M to support local partnerships in urban neighborhoods across Massachusetts, which is a
Riemer & Braunstein LLP Honored by Boston Business Journal with Corporate Citizenship Award
For the 19th consecutive year, Riemer & Braunstein has been honored by Boston Business Journal with a Corporate Citizenship Award as one of Massachusetts’ largest corporate charitable contributors. Congratulations to Riemer & Braunstein for this honor!To read the full BBJ list, visit here: https://lnkd.in/ePsKVEFY
Brookline Bank EVP & CDO Talks How Technology Continues to Make Advances in Payment Processing
Mona Macero – EVP, Chief Digital Officer, Brookline Bancorp Payment processing remains a crucial part of a bank’s service offering, even as the industry has shifted from analog to digital processing. In a relatively short time span, commercial payment processing has evolved from paper-based check payments dependent on U.S. Mail for delivery, to electronic payment options such as online bill payment, ACH, and wire transfers. Technological advancements have created faster payment options supporting
SBA Removes Cap on Loans for Clean Energy Projects
Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America’s more than 33 million small businesses, announced that the agency has removed its 504 Loan Program’s cap on lending for clean energy projects as part of broader SBA efforts to usher in our nation’s clean energy future. “Small businesses and start-ups play a crucial role not only in innovating to develop the future of climate technology but also in adopting sustainable practices and
BACC Welcomes Local Business, Bellanistas To The Burlington Mall
Last week, the BACC had the pleasure of welcoming Bellanistas to the Burlington Mall, the BACC, and the Burlington community as a whole. Bellanistas is a delightful local boutique that specializes in women’s clothing, accessories and shoes that caters to every style & occasion. They help fashion minded women look their best for less! Learn more about Bellanistas and connect with them here.See BCAT TV Spotlight Here
Rep. Ken Gordon Votes For State Budget That Includes Funding For District
Representative Ken Gordon joined his colleagues in the House of Representatives in passing a $58 billion Fiscal Year 2025 (FY25) budget proposal. The House budget included local funding for the 21st Middlesex District as well as critical investments in transportation, childcare, and K-12 education. “I am proud of the investments made in this FY25 budget that will continue to provide necessary support to our communities”, said Representative Gordon. “This budget includes significant funding in
Five Questions With Brookline Bank VP Sean McGrath
Sean McGrath serves Brookline Bank as a Vice President in the Commercial Banking Group. He joined Brookline in April 2018. Sean has a background in designing and implementing financing and deposit strategies for insurance carriers and agencies. He is a licensed Massachusetts Property & Casualty Insurance Advisor and Commercial Lines Coverage Specialist (CLCS) – one of the few commercial bankers in Massachusetts to obtain these designations. Sean gained invaluable insurance experience as a Sales Account
BACC March 2024 Newsletter
2024 BACC Spring Soirée Thursday, May 2nd, 6-9 PM Members are invited for a celebration of BACC membership. Join more than 150 business professionals for an evening of delicious food, drinks, and socializing. PROMOTE YOUR BUSINESS AND SUPPORT THE CHAMBER Members are afforded a number of visible opportunities to showcase their businesses, services and commitment to the business community. Help support the BACC and the programs that promote local business.See Complete Details and Opportunities
Burlington Celebrates Milestone Connection with MWRA
The Town of Burlington hosted a ribbon-cutting ceremony at the Vine Brook Water Treatment to celebrate the completed connection to the MWRA, a new source of water in a town with a history of seasonal restrictions. An extensive collaborative effort between the Town of Burlington, Lexington, and the Burlington Area Chamber of Commerce, led to a significant improvement in the region’s water infrastructure. The extension of the MWRA water main through Lexington to Burlington connects the community to the
BACC September 2023 Newsletter
The Taste of Burlington is BACC! Monday, October 30th, 5-8 PMat the Boston Marriott Burlington Join us for the area's largest food event as dozens of Burlington restaurants showcase their delicious culinary offerings for one night only at the Boston Marriott Burlington. Attendees also enjoy live entertainment, raffle prizes, gift bags and more!Participating Restaurants Thank You to Our Event Sponsors A Sampling of Upcoming EventsSee All Events BACC Member News and Information MCC Announces
School of Rock Burlington Opens on August 6th
School of Rock's brand new school next to L.L. Bean is now open! Our approach to music education is cooperative, meant to build both musical and personal skills. Owner Mark Abruzzese is a 24-year veteran chemistry and physics teacher and drives the vision of this school to be about the joy we can all find making music with others. Each week students have one 1:1 lesson and one group rehearsal where they play songs with other students.
Masterpiece Dentistry Celebrates One Year Anniversary at Burlington Location
The Burlington Area Chamber of Commerce hosted a ribbon cutting ceremony at Masterpiece Dentistry's Burlington location to celebrate their one year anniversary on Friday, May 12th. Dr. John Pappas and his team at Masterpiece Dentistry provide advanced dental care solutions, which ensures you achieve optimal oral health and a beautiful, natural-looking smile. They offer a patient-centered practice by combining leading-edge dentistry with completely personalized care. Masterpiece Dentistry has been a member
Chopps Italian Steakhouse & Bar Now Open at the Boston Marriott Burlington
After rebranding from Chopps American Bar & Grill, the restaurant has reopened under the new name Chopps Italian Steakhouse & Bar, and is now open for business! Chopps Italian Steakhouse & Bar is a modern and inviting chophouse serving Italian inspired cuisine from Executive Chef Matthew Clabbers (pictured above). Chopps offers an affordable alternative to an upscale steakhouse while maintaining exceptional quality. Succulent cuts of all-natural beef and regional specialties with fresh local
BACC February 2023 Newsletter
Member News and Information BACC Holds Black Tie Gala Benefit The Burlington Area Chamber of Commerce (BACC) held their Black Tie Gala benefit, presented by The Herb Chambers Companies, on February 4th at the Boston Marriott Burlington. This annual fundraiser supports a sector of the BACC’s Charitable Foundation called the Charitable Partnership Program see more... Burlington Board Of Health To Update Hazardous Materials Regulations In an effort to update antiquated rules and guidelines, the Burlington
