Friday, November 9, 2012
Boston Scientific has announced it will move its headquarters and unknown number of employees to Marlborough.
Boston Scientific Corporation announced Thursday it will consolidate its Natick global headquarters into its Marlborough location, where a new global headquarters campus will be established. “The expansion of Boston Scientific in the City of Marlborough is a proud moment for our community and is a direct result of the hard work and collaboration of my office, the City Council, and the Marlborough Economic Development Corporation," said Mayor Arthur Vigeant. The consolidation will begin in the spring of 2013, according to a press release from the company, with employees being essentially moved out of the Natick facility by mid-summer of 2014. “A new global headquarters in Marlborough will more effectively support our long-term strategic …
Monday, July 16, 2012
A real estate firm reports that the city and nearby Westborough have some of the highest vacancy rates in the region.
Monday, July 16, 2012
While efforts to attract new business to the city have paid some dividends in the form of recent announcements that TJX would move some jobs to the city, as well as smaller victories, the city's office market lags most other markets in the region. Citing a report from commercial real estate firm Jones Lang Lasalle, the Worcester Business Journal reported that Marlborough and Westborough have more than 730,000 square feet of vacant space available for lease. That helps contribute to a 14 percent vacancy rate in the I-495 corridor, the WBJ reports, much higher than markets closer to Boston. Marlborough Mayor Arthur Vigeant has made attracting more businsesses and creating jobs in the city a top priority of his administration. Gains have …
Monday, May 7, 2012
Mayor Arthur Vigeant's office comments on the company's latest announcement.
Late last week the TJX Company announced at Framingham Town Meeting that it planned to maintain its corporate headquarters in Framingham, causing concern in Marlborough that this would affect the company's plans to expand into Marlborough. The company, which owns TJ Maxx, Marshall's and Home Goods, purchased a Marlborough property owned by Fidelity in late April. “TJX is pleased to have completed its purchase of two buildings located at 300 and 400 Puritan Way in Marlborough, said a representative of the company at the time. "This space is expected to house certain home office operations and will help TJX accommodate its future growth plans." Mayor Arthur Vigeant's office said the announcement by TJX should not affect any future plans …
Thursday, May 3, 2012
The agreement will need to be approved by Town Meeting on May 22, and no word yet on how this deal will affect the pending purchase of the Marlborough Fidelity properties.
Framingham Selectmen have reached a tentative 20-year tax finance agreement that would keep the TJX corporate headquarters at 770 Cochituate Rd., a deal which seemingly conflicts with the upcoming purchase of the Puritan Way properties in Marlborough. In making the announcement tonight, Selectmen called for a Special Town meeting on May 22 to seek town meeting approval of the agreement. The agreement calls for TJX to maintain 1,600 permanent jobs and create 225 new jobs over the new several years. In addition, $143 million of the new investments will be made for on site expansion, renovations to the existing buildings and acquisition costs. In exchange for these commitments, Framingham will provide tax incentives for new investments. "TJX…
Wednesday, May 2, 2012
The company will be moving to Marlborough in the near future, but due to a reorganization of responsibilities, the company's top officer has had a cut in pay.
Carol Meyrowitz, the CEO of the TJX Corporation which owns the TJ Maxx, Marshalls and Home Goods chains, saw her compensation drop significantly in fiscal 2012, reported a recent article in the Worcester Business Journal. In 2011, the executive was paid $23.1 million, and recent financial documents filed by the company say that she was paid $11.1 million this year. While at face value this appears to be a drastic drop in compensation, the Journal reported that the company said this was because Meyrowitz was paid performance-based stock awards last year rather than the current one. Records showed that the stock awards totaled $12.6 million in 2011 and nothing this year. The greatest actual reduction in the executive's pay was in her base …
Monday, March 12, 2012
Last week the TJX Corporation and Fidelity announced they were in the process of working out a sale, which the Marlborough City Council is expected to approve Monday night..
After initially expressing delight over the impending sale of the soon-to-be-vacated Fidelity property in Marlborough, Mayor Arthur Vigeant took some time to talk details. "It has been in the works for a couple of months now, and it is a fantastic win for the city of Marlborough," said Vigeant, just four months into his first term as mayor. "We Made informal inquiries and were later brought in by one of the local landlords." Part of the attraction that TJX, which owns TJ Maxx, Marshalls and Homegoods, had to Marlborough was a tax deal offered by the city. "It was a 20 year agreement made to level the playing field and be more competitive with other communities," said Vigeant. "If I can encourage someone to come here and invest millions of…
Thursday, March 8, 2012
The TJX Corporation is reportedly paying $72 million, and will move a significant portion of their headquarters to Marlborough.
The TJX Corporation announced Wednesday that it is in the process of buying the soon-to-be-vacant Fidelity facilities in Marlborough. The owner of discount retail chains TJ Maxx and Marshalls, as well as HomeGoods, said they will transition a significant portion of their workforce to the two Puritan Drive locations sometime during the fall of 2013, according to a recent Boston Globe article. This news created significant buzz in the Metrowest area over the past day, with many excited about the prospect of one of the state's largest employers moving to Marlborough. “I am pleased to announce that the City of Marlborough and The TJX Companies, Inc. have agreed in principle to a Tax Increment Financing ("TIF") plan that would allow TJX to …
Thursday, September 22, 2011
Our weekday morning column, 5 Things You Need to Know, provides you with information that can help you plan your day and give you some fodder for water cooler conversations.
- Josh Gray
Thursday, September 22, 2011
1. There will be showers and clouds throughout the day today with a high of 75 degrees, says the National Weather Service. 2. The 19th Annual St. Bernadette Fall Festival will be held this Friday and Saturday, Sept. 23 and 24, at the St. Bernadette Catholic School, 266 Main St. in Northborough. All are welcome to this community event which benefits St. Bernadette Parish & School programs. Kids Games, Tasty Food, Bouncy Rides, Magic Show, Themed Basket Raffle, Sweepstakes, Craft Fair, Mega Cash, Auctions, & Music are some of the many entertainments offered. 3. The local television station WMCT will be hosting a mayoral forum/debate this evening that will air at 7:02 p.m. and play again several times over the coming days. If you like to …