COMING UP ON THIS WEEK’S PBN METROWEST BUSINESS REPORT A SOUTHBORO COMPANY GAINS A HIGH PROFILE BOARD MEMEBER, ITS HARDER TO FIND COMMERCIAL SPACE IN ONE LOCAL CITY, A MAJOR FRANCHISE LOOKS TO EXPAND IN OUR AREA AND ITS TIME TO TRY NEW PLACE TO EAT! THESE STORIES AND MORE ON THE PROACTIVE BUSINESS NETWORK’S WEEKLY BUSINESS REPORT.
HI EVERYONE, I’M CHRISTINE HACHEM AND THIS IS THE PBN BUSINESS REPORT.
RX ADVANCE, A SOUTHBORO BASED PHARMACY BENEFIT MANAGEMENT COMPANY, RECENTLY ANNOUNCED THAT JOHN SCULLEY HAS JOINED THE BOARD OF DIRECTORS AND WILL SERVE AS VICE CHAIRMAN. AS THE FORMER CEO OF APPLE AND PEPSI, MR. SCULLEY IS WELL KNOWN FOR HIS MARKETING ACUMEN, HAVING CREATED THE PEPSI CHALLENGE. ACCORDING TO A RECENT PRESS RELEASE, HIS GOAL IS FOR THE RX ADVANCE PLATFORM TO REDUCE OVERALL PHARMACY SPENDING AND DRUG IMPACTED MEDICAL COSTS WHILE OPTIMIZING SPECIALTY COSTS FOR PLAN SPONSORS. HE IS ALSO A FOUNDING SHAREHOLDER OF THE COMPANY.
THE MARLBORO ECONOMIC DEVELOPMENT CORPORATION RECENTLY ANNOUNCED THAT COMMERCIAL VACANCY IN THE CITY HAS FALLEN BY FIFTEEN PERCENT FROM LAST YEAR. THIS IS THE FOURTH CONSECUTIVE YEAR THAT VACANCY HAS DECLINED. THE RATE OF AVAILABLE SPACE IN CITY BUILDINGS NOW STANDS AT JUST ELEVEN POINT NINE PERCENT. OVERALL, THIS IS A SIXTY FIVE PERCENT DECREASE SINCE 2012 AND OVER FIVE THOUSAND JOBS HAVE BEEN ADDED. THE UNEMPLOYMENT RATE IN MARLBORO WAS REPORTED TO BE THREE POINT SEVEN PERCENT IN DECEMBER OF 2015 AS A RESULT OF SO MANY COMPANIES MOVING TO THE CITY.
SYLVAN LEARNING INC, THE BALTIMORE BASED TUTORING CENTER FOR STUDENTS FROM KINDERGARDEN THRU HIGH SCHOOL, IS HOPING TO ADD SEVERAL ADDITIONAL LOCATIONS IN THE BOSTON SUBURBS BY 2017. PLANS INCUDE OPENING A FRANCHISE IN FRAMINGHAM, ACTON AND WELLESLEY WITH SATELITES IN LIBRARIES OR COMMUNITY CENTERS. A TYPICAL MAIN LOCATION WOULD BE BETWEEN TWELVE HUNDRED AND TWO THOUSAND SQUARE FEET. SYLVAN CURRENTLY OPERATES EIGHT HUNDRED CENTERS NATIONWIDE AND ALREADY HAS FIVE IN MASSACHUSETTS.
ITS ALMOST TIME FOR RESTAURANT WEEK, NOW KNOWN AS DINE BOSTON. DURING MARCH 6TH THRU 11TH AND 13TH THRU 18TH EATERIES AROUND BOSTON WILL BE OFFERING FIXED PRICE MULTI COURSE MENUS. THE LOCAL METROWEST LOCATION OF THE MELTING POT IN FRAMINGHAM WILL BE PARTICIPATING WITH SEVERAL POPULAR FONDUE OPTIONS. WORCESTER S RESTAUARNT WEEK IS CURRENTLY RUNNING AND WILL COME TO AN END ON MARCH 6TH.
THAT’S THE PBN BUSINESS REPORT FOR THIS WEEK. FOR THE PROACTIVE BUSINESS NETWORK, I’M CHRISTINE HACHEM.
