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Worcester, MA Business Climate is Good for Growth

Businesses in various industries find success in Worcester.

By Bill Lewis on September 21, 2021

KINEFAC Factory in Worcester MA

If you live in Worcester, you can take advantage of convenient transit connections to Boston, but you might decide to skip the trip to Beantown and enjoy a cold brew at locally owned Wormtown Brewery or take in a baseball game at the new Polar Park, home of the Worcester Red Sox, the Triple-A affiliate of the Boston Red Sox.

Or you might make a short commute to work at The Hanover Insurance Group, one of the country’s leading insurance providers, or Kinefac Corp., a world-class developer and manufacturer of specialized metal forming, metalworking and processing equipment.

They are all part of this thriving Central Massachusetts city, which welcomes businesses of all sizes and attracts top talent with a quality of life enhanced by more than 60 parks, 200 miles of trails on conservation land and a commitment to thoughtfully bringing new energy to older neighborhoods.

Worcester is the perfect location for The Hanover Insurance Group, says Ann Tripp, executive vice president, chief investment officer and treasurer for the company, which was formed in 1852.

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Competitive Advantage

“Our home office is here, our employees work here, many live here, so we care a great deal about this community and want to do our part to help make it thrive. We are building a world-class company, and the quality of the people is a competitive advantage,” says Tripp, who is also president of Opus Investment Management, Inc.

“The more attractive the city is, the better able we are to attract and retain employees, benefitting both our company and our city,” she says. “The economic development of the downtown area helps attract top talent to our region and makes the city a place our employees want to live and work.”

The future looks bright for the city as the economy recovers from the pandemic and people seek the affordability and quality of life that are easier to find in cities the size of Worcester.

“We’re seeing more and more people moving outside of Boston, especially as many are planning to incorporate remote work post-pandemic, and Worcester is an attractive area,” Tripp says. “With many entertainment options – from Polar Park to The Hanover Theatre to great restaurants – Worcester is poised for growth in years to come. The central location allows for easier commutes, and the cost of living is lower than Boston.”

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Diverse Economy

The region’s diverse roster of employers includes advanced manufacturing, life sciences, logistics and transportation, financial services, nonprofits, health care and education. Examples include AbbVie pharmaceutical company and a portion of Saint-Gobain Abrasives’ North American unit, the world’s leading manufacturer of abrasives. In addition, polar Beverages is the largest independent bottling company in the U.S.

Wormtown Brewery has thrived since launching in Worcester in 2010. The company’s beers, made with ingredients from local agricultural suppliers, are now available in Massachusetts, Rhode Island, New Hampshire, Connecticut and Vermont.

Kinefac co-owner Leslie Greis can’t imagine the company being anywhere else. Her parents formed the manufacturing company in Worcester in 1962.

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A More Attractive Option

“We have a wonderful team of employees who are based here, many of whom have been with the company for a very long time. They’re highly skilled, have a tremendous knowledge of metal forming technologies and have been a key to our success over the years,” Greis says.

From its founding in Worcester, Kinefac has benefited from the well-educated workforce graduating from the area’s schools, including vocational schools and institutes of higher learning, like Worcester Polytechnic Institute.

“There are many signs that Worcester will be a player in the innovation economy of the future – for example, participating in the momentum around advanced manufacturing and life sciences, all of which would benefit a company like Kinefac,” Greis says. “It also means that the area is becoming a more attractive place to live, offering many of the same benefits of living in a city like Boston, but without the density, traffic or cost of living issues.”

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