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Making Moves in Massachusetts
May 2015
Expanding in MA
New Products & Funding
A new startup incubator and co-working space,
Fairmount Innovation Lab in Dorchester’s
Upham Corner currently has 1K SF of space
that will house nine entrepreneurs, and when
completed, the lab will encompass about 13K
SF. Read more here. Another co-working space
has recently opened, Spark, in Acton, for
individuals and small groups of entrepreneurs
seeking a community of like-minded
professionals. Read more here.
OnVocal, the Burlington maker of a new type
of Bluetooth-enabled headphones, raised $2.5
million which will be used to help support the
company's engineering and product
development teams. Read more here.
Global medical device company, Haselmeier
Inc. opened a new office in Lowell, chosen for
its location within a growing medical device
region and proximity to UMass Lowell. Read
more here.
Software company Citrix Systems and its 200
employees will be relocating from Bedford to
more than 43K SF in Burlington. Read more
here.
Cybersecurity firm Cybereason raised $25
million and plans to move its headquarters
from Cambridge to Boston and double its
headcount to 80 employees. Read
more here.
Indianapolis drug giant Eli Lilly plans to open
a17K SF innovation center at 450 Kendall
Street in Cambridge with plans to hire about
30 scientists and engineers over the next
two years. Read more here.
Keryx Biopharmaceuticals, with 55
employees, is expanding in Boston two floors
up from its current space at 1 Marina Park
Drive. The new headquarters is 25K SF, which
is 150% larger than its existing space. Read
more here.
Drugmaker Collegium Pharmaceuticals in
Canton raised $70 million in its IPO. Read
more here.
Bedford-based renewable fuels developer
Joule Unlimited raised $40 million as it looks
to mass produce its biofuel. Read more here.
With five million members around the world,
BookBub, a Cambridge-based e-book discount
alert service, raised $7 million which will be
used to help expand products and services
internationally. The company has 40 employees
and plans to hire up to 30 more over the next
year. Read more here.
Somerville-based startup, Hydration Labs
raised $1.56 million from 30 different
investors for their new product Bevi. Read
more here.
Rapid Micro Biosystems, in Lowell, gained
$25 million from investors to help expand its
commercial and manufacturing operations. Read
more here.
OncoPep Inc., in North Andover gained $6.9
million which will be used to support clinical
trials of its cancer vaccine. Read more here.
Cambridge-based Myomo Inc. raised $5
million from existing investors to help reach its
goal of creating a robotic arm for people with
neurological disorders. This funding will be used
Nestle Health Science plans to open a
headquarters for its "therapeutic nutrition"
business in Cambridge. Read more here.
for sales and marketing, new product
development and clinical studies. Read more
here.
Clarks Americas Inc., the footwear company,
is moving its headquarters to a 120K SF space
in Waltham that will house its design,
marketing, retail and wholesale business. Read
more here.
Headquartered in Boston, Profitability
raised $1.8 million to develop a profiling
technology that attempts to predict the patterns
in how individuals use healthcare. Read
more here.
Ground has been broken for a new $20 million
commuter rail station, Boston Landing, servicing
the Allston/Brighton area, with construction
slated to be completed by late 2016. The
adjacent $500 million and 14 acre
development will include a new New Balance
headquarters, hotel, Boston Bruins practice
rink, and basketball courts. Read more here.
Cambridge-based GITR raised $1.5 million
to aid in clinical trials to help developing an
antibody to treat cancer. Read more here.
Biotech company, Forum Pharmaceuticals,
moved its headquarters from Watertown to
a122.5K SF space in Waltham which includes
a consolidation from their two previous locations
with room to expand. Read more here.
Tech company Royal Philips signed a five-year
deal with MIT to move its North American
research center from New York to 2 Canal Park
in Cambridge. The company will invest $25
million over five years, which is its largest
research initiative, and hire dozens from its
existing research headquarters and other
Massachusetts locations. The building will house
up to 200 researchers and renovations are
ongoing, with a likely fall move-in. Read more
here.
Tewksbury-based tech company, Altiostar
Networks, invested more than $1 million to
relocate its headquarters within Tewksbury, at a
nearby 37K SF space. Read more here.
Boston-based company, EnergySage, raised
$1.5 million which will be used to strengthen
its online marketing efforts for solar energy
systems and expand on their current business
partnerships. Read more here.
Sales and marketing software company
HubSpot, based in Cambridge, established a
$3 million growth fund to invest in some of the
fast-growing partners it works with. HubSpot
currently has 900 employees and is hiring
hundreds more this year. Read more here.
Under a partnership between the MA Dept.
of Environmental Protection and MA Clean
Energy Center, $800K in funding will assist
municipal wastewater treatment plants in their
efforts to adopt energy efficient and innovative
treatment technologies, and support the
development of innovative water-technology
projects. The water technology industry
employs more than 5,200 in
Massachusetts. Read more here.
Ambassadors @ Work
Nominate Companies Expanding in Massachusetts
Click here to nominate a company for the 12th Annual Team Massachusetts Economic Impact Awards. The awards event is a
great opportunity to market the state and to support businesses expanding in Massachusetts.
Do You Have the Next Massachusetts Slogan?
Richard Doucette, the new Executive Director of the Massachusetts Office of Travel & Tourism is looking for a new state
slogan to replace "It's All Here." Doucette hopes to have the new slogan by the fall, so submit your slogan suggestions here.
Hospitality Reception in Atlanta for Corporate Location Advisors
Showcasing the assets of Massachusetts, MassEcon, the Marlborough EDC, Transwestern | RBJ, and Patriot Placeheld
a reception for corporate location advisors at Atlanta's Southern Gentleman Restaurant. Next month, there will be a similar
reception in New York City.
Celebrating Direct Flights from Boston to Israel and Logan Airport as a Gateway to New England
Massport hosted a launch event at the Downtown Harvard Club to celebrate El Al Airlines which will begin offering direct
flights between Boston and Tel Aviv starting June 28. Massport also recently released a report, putting Logan Airport and
Boston on the map as a gateway to New England, and identifying the region's economic strength and access to talent.
Key Upcoming Events
On June 2, the New England Economic Partnership and MA Business Roundtable are hosting an energy conference, "Building
the Backbone of Energy Efficiency: New England's Competitiveness, Innovation, and Sustainability in the 21st
Century," at the Federal Reserve Bank in Boston. Click here to register.
MassEcon is holding its Annual Conference, "A Conversation with the Cabinet:Priorities of the Governor's Economic
Development Team" on June 19 in Newton. Panelists include Jay Ash, Secretary of the Executive Office of Housing &
Economic Development; Matthew Beaton, Secretary of the Executive Office of Energy & Environmental Affairs; Stephanie
Pollack, Secretary & Chief Executive Officer of the Department of Transportation; and Ron L. Walker II, Secretary of the
Executive Office of Labor & Workforce Development. Geri Denterlein will moderate the event. Register here.
Notes on the Economy
The Massachusetts Department of Transportation released a study which analyzes the economic impact of the state's 39
public-use airports.
According to the U.S Bureau of Labor Statistics, the nation's employment rate is the lowest it has been since 2008, and
233,000 jobs were added last month. Read more here.
The latest MassBenchmarks discusses the technology sector and initiatives to help grow small to mid-sized cities.
In a new audio report issued by MIT Industrial Performance researchers, manufacturing is an integral part of several of
the state's most important industries and Massachusetts manufacturing could benefit greatly from more collaboration of state
resources.
Boston's Mayor Marty Walsh released the first quarterly report of the 2030 Housing Initiative to elaborate on Boston's
new plan for housing, which includes building more than 50,000 new living units and renovations to accommodate the influx
of young professionals and the growing population.
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