Western Massachusetts Business News

1. Bloomberg Philanthropies names Holyoke national finalist for $1 million art grant

   Explore masslive.com Jul 19 2018 Entrepreneurship

   

   Bloomberg Philanthropies on Wednesday named the El Corazon de Holyoke (The Heart of Holyoke) and the city, along with 14 communities nationwide, as finalists for a Public Arts Challenge Grant. Holyoke competed with more than 200 applicants for the coveted grants of up to $1 million. Bloomberg Philanthropies will name three winners in the fall. The applications hail from communities with 30,000 or more residents.

    

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   Mentions: Holyoke Massachusetts Department of Transportation Alex Morse

2. PVTA gets boost in state budget, still plans service cuts

   Explore masslive.com Jul 18 2018 Transportation

   

   The Pioneer Valley Transit Authority will get more money under the state budget passed Wednesday by the Legislature than it expected under the governor's budget proposal, but it might not be enough to stop planned service cuts. The Legislature's budget adds $455,605 in funding for the PVTA as compared with the last two budget cycles. Additional funding could come from the state Department of Transportation. But the gains could also be wiped out by Gov. Charlie Baker if he decides to veto portions of the budget.

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   Mentions: Springfield Northampton The Republican

3. Springfield officials celebrate opening of Holiday Inn Express in downtown (photos)

   Explore masslive.com Jul 18 2018 Business Development

   

   City officials and other well-wishers gathered Wednesday at the new Holiday Inn Express on State Street, celebrating its recent opening which ended years of delays and anticipation. The 98-room hotel opened in April at the former Epiphany Tower, 145 State St., across the street from the MassMutual Center and a short distance from the MGM Springfield casino project.

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   Mentions: Domenic J. Sarno MassMutual Center Springfield

4. Environmental bond bill could extend Western Massachusetts bike paths, fix water and sewer...

   Explore masslive.com Jul 18 2018

   

   Western Massachusetts could see an infusion of public dollars for capital projects under a $2 billion environmental bond bill passed by the state Senate last week. Wish-list amendments to the bill, successfully tacked on by the region's senators, include extending bike paths, upgrading water and sewer plants, fixing dams and reservoirs, cleaning up lakes and rivers, boosting outdoor recreation and improving urban parks.

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   Mentions: Palmer Springfield Chicopee

5. Work Opportunity Center Receives Westfield Bank Foundation Grant

   Explore BusinessWest Jul 18 2018

   Work Opportunity Center Inc. announced it is a recipient of a $5,000 grant donation from the Westfield Bank Foundation. The money will be put toward the purchase of a vehicle for the Community Based Day Services (CBDS) program. The CBDS program of supports enables individuals with developmental disabilities to enrich their life and enjoy a full range of community activities by providing opportunities for developing, enhancing, and maintaining competency in personal, social, and community activities.

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   Mentions: Springfield Westfield Westfield Bank

6. United Financial Bancorp Announces Q2 Earnings

   Explore BusinessWest Jul 18 2018 Financial Services

   United Financial Bancorp Inc., the holding company for United Bank, announced results for the quarter ended June 30, 2018. The company reported net income of $15.6 million, or $0.31 per diluted share, for the quarter ended June 30, 2018, compared to net income for the linked quarter of $15.8 million, or $0.31 per diluted share. The company reported net income of $16.2 million, or $0.32 per diluted share, for the quarter ended June 30, 2017.

    

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   Mentions: United Bank

7. Health New England president and CEO Maura McCaffrey steps down

   Explore masslive.com Jul 17 2018

   

   Maura McCaffrey, president and CEO of Health New England, has resigned effective immediately, according to  message Tuesday from Dr. Mark A. Keroack, president and CEO of Baystate Health, which owns Health New England. She's stepping down to focus on her health and be with her family, according to Keroack's message.  Health New England is a nonprofit health plan serving Western Massachusetts, Worcester County and members in Connecticut employed by Massachusetts companies.

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   Mentions: Western New England University Baystate Health Health New England

8. Developer signs option agreement to preserve Mt. Tom land in Easthampton

   Explore masslive.com Jul 17 2018

   

   If all goes as planned, nearly 24 acres on the northwestern flank of Mount Tom will be preserved as open space, with parking and access to hiking trails, rather than built as a subdivision called "Red Tail Drive." Developer Gary Campbell last week signed an option agreement with the Amherst-based Kestrel Land Trust, confirmed Mark Wamsley, the organization's conservation manager. He said Easthampton's Passcommuck Conservation Trust helped with funding, and that a pot of money is now being held in escrow.

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   Mentions: Amherst Holyoke Easthampton

9. Springfield City Council approves tax incentives for Willys-Overland downtown housing...

   Explore masslive.com Jul 17 2018 Business Development

   

   The City Council approved tax incentives for the historic Willys-Overland property on Chestnut Street on Monday, providing property tax relief to the new owner to assist plans to convert the site to market-rate housing. The vote was 8-0 to approve the 10-year tax increment exemption agreement with Davenport Companies, under the name Chestnut Acquisitions LLC. Under the agreement, Davenport will have a total tax savings estimated at $310,000 over 10 years, according to the Assessors Department.

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   Mentions: Springfield

10. PeoplesBank buys First National Bank of Suffield for $60M

    Explore masslive.com Jul 17 2018 Financial Services

    

    PeoplesBancorp, parent of PeoplesBank, will buy First Suffield Financial, Inc., parent company of The First National Bank of Suffield, Connecticut, for $60 million. First Suffield Financial shareholders will receive $12,001.85 in cash per share, according to a news release. PeoplesBank is mutual bank and has 18 banking offices in Western Massachusetts and assets exceeding $2.4 billion.

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    Mentions: Holyoke
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