Lots of life in the life sciences
Lots of life in the life sciences
And just like in the Bill Murray film, it’s the same story over and over and over in Newton.
No school last week. No school yesterday. No school today. Teachers blame the city. The city blames the teachers. Kids suffer. Parents suffer. Newton suffers.
At least this morning, it looks like the state may be ready to step in and force both sides to engage into binding arbitration.
Which makes sense because, unlike the scene where Bill Murray steps in the same slushy puddle over and over, there's nothing funny about this movie.
There's life in the life sciences
There's life in the life sciences
We already knew that Gov. Maura Healey’s economic development plan calls for major investments in the life sciences sector.
And this week Lt. Gov. Driscoll confirmed at a MassBio event that the administration’s forthcoming economic development bill will include a reauthorization of the life sciences initiative first started by Gov. Deval Patrick and continued under Gov. Charlie Baker.
It’s not a surprise. But it’s good news for our region, considering that last year nearly 60 percent of venture capital for Massachusetts life sciences companies was deployed to companies outside Cambridge – including Waltham, Watertown, Burlington, Newton, Natick, Lexington, Woburn and Wellesley.
(That includes $555 million in VC dollars to Watertown-based companies; $257 million in Newton companies; and $48 million in Wellesley in 2023.)
“Move over, Kendall Square,” writes the Globe’s Robert Weisman. “… the next miracle drug for lung cancer or epilepsy is just as likely to emerge from Arsenal Yards in Watertown or the shadow of Fenway Park.”
“They’re coming into Watertown and finding things might be a little cheaper here,” Watertown City Council president Mark Sideris tells the Globe.
Sure enough on Tuesday, Kendall Square-based Avrobio announced plans to merge with Watertown-based Tectonic Therapeutic Inc and locate the corporate headquarters at Tectonic’s space at LINX.
But also this week at the MassBio event, Economic Development Secretary Yvonne Hao warned that we should never take our biotech sector for granted.
"We have a target on our back -- every other state is trying to catch up with us, every other city, every other country."
Speaking of the life sciences in our region
Speaking of the life sciences in our region
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Don’t forget that you can have a chance to tour -- and enjoy food, drink and great company – at the new Manfredi Architects-designed life science campus at 66 Galen Street, just outside of Watertown Square on Feb. 27.
That’s the night of our big Winter Celebration networking night, sponsored by the Village Bank. RSVP.
Needham shows its MBTA Communities hand
We’re starting to get a clearer picture as to how Needham plans to reach consensus on complying with the MBTA Communities Law.
The town-appointed Needham (HONE) Advisory Group plans to submit two zoning articles and ask Town Meeting members to pick one this fall.
The first would be a “do-only-enough-to-comply” proposal that would allow for the slightly more than the 1,784 multi-family units mandated by law. (And remember, that's only what could potentially be built, not what's likely to be built.)
The second option would be a more expansive “add-on” plan that would go beyond what’s required, although just how big, or bold, that plan will be has yet to be determined.
It’s an interesting strategy. But it’s one that’s fraught with risk for anyone who cares about the housing crisis, climate change and/or Needham's economic vibrancy.
Propose something that scares Town Meeting members and risk rejection of option two. Propose something that’s not bold enough and lose out on a chance to make Needham more welcoming to young families, local employees, seniors and others.
Watertown’s MBTA Communities compliance process isn’t expected to formally begin until June. But the community engagement process is well underway.
The formal process will include a public hearing before the planning board; a board recommendation to the city council; followed by council deliberations and vote prior to the state-required Dec. 31 deadline.
On Feb. 29 at 6:30 p.m., the city will be holding its next public engagement meeting for the Watertown Square Area Plan.
That community meeting (at 64 Pleasant Street) will continue the process of engaging the public on all aspects of the plans for the square, including a streetscape redesign and upzoning that aims to meet MBTA Communities compliance.
While Wellesley schedules MBTA Communities forums
Wellesley will hold two upcoming public forums to discuss its (preordained?) MBTA Community Zoning and the town's plans for compliance .
- Forum #1 is Thursday, Feb. 8 at 6:30 p.m. in the Kingsbury Room, Wellesley Police Department (485 Washington Street). The meeting will be live streamed on Wellesley Public Media.
- Forum #2 on Thurs., March 7 at 6:30 p.m. on Zoom Register
Friday grab bag
- The chamber will host a virtual debate focused on business and economic development issues with the four candidates vying for two seats on the Wellesley Select Board – incumbents Colette Aufranc and Ann-Mara Lanza and challengers Marjorie Freiman and Odessa Sanchez – on Tues Feb. 13 from 2-3 p.m. via Zoom. More details to follow.
- Learn more about possibly hiring a newly permitted immigrant refugee here.
- In addition to timely coverage of the Newton teachers' strike by local nonprofit startups Fig City News and The Newton Beacon, Jenn Adams and the crew at NewTV have stepped up their game: They're filing must-see nightly video updates. Subscribe.
- Here's how Newton nonprofits, businesses have stepped up with programming for students and how 15 afterschool programs haven't been able to help.
- Needham Police continue to recommend not using U.S. Postal mail boxes due to thefts from stand-alone mailboxes and stealing its contents. All mail should be brought directly into the post office during hours of operation.
- Nice to see that former Newton-Wellesley Hospital President Dr. Errol Norwitz has been appointed chief innovation and impact officer at Quantiva Health.
- Needham state Rep. Denise Garlick holds her annual Representative’s Report to the Community, Feb. 12, 7 p.m. via Zoom, the Needham Channel and in person at Needham Town Hall
- Visit the Needham Free Public Library on Sun (Feb. 4), 2 p.m. for a conversation with Imari Paris Jeffries, President & CEO of Embrace Boston, the 20-foot-high bronze sculpture on Boston Common.
- We have limited tickets left for our event Tuesday (Feb .6) at 9 a.m. with Secretary of Labor and Workforce Development Lauren Jones at Hampton Inn & Suites at Arsenal Yards in Watertown. RSVP
One more thing about Moynihan in Wellesley last week
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As I wrote in this newsletter Tuesday, a group of 18 climate activists attempted to hijack Bank of America CEO Brian Moynihan’s appearance at a Wellesley Rotary Club dinner last week.
What I failed to mention was that after the disruption, Moynihan directly addressed the issue of climate (among other global and local topics), according to the Swellesley Report's Bob Brown.
“ …an attendee said near the end of the event that he can understand “these young people” (referring to the protesters) being nervous about their futures, but asked Moynihan what’s going to happen to investors in facilities such as natural gas pipelines and terminals if they are stranded.
Brown reports that BoA has countered criticism from activists as well as environmental outfits like Sierra Club by pointing to investments it has made to address climate change. And that Moynihan said BofA is making ‘massive investments in carbon capture storage,’ and others in committing to sustainable aviation fuel.
“’We literally did $150B of financing of green projects around the world last year,” Moynihan said. “’It’s a transition, it has to happen.’”
I apologize failing to note that Moynihan did indeed discuss climate during the event.
Photo credit: Swellesley Report.
Layoffs more common among remote workers
What I failed to mention was that after the disruption, Moynihan directly addressed the issue of climate (among other global and local topics), according to the Swellesley Report's Bob Brown.
“ …an attendee said near the end of the event that he can understand “these young people” (referring to the protesters) being nervous about their futures, but asked Moynihan what’s going to happen to investors in facilities such as natural gas pipelines and terminals if they are stranded.
Brown reports that BoA has countered criticism from activists as well as environmental outfits like Sierra Club by pointing to investments it has made to address climate change. And that Moynihan said BofA is making ‘massive investments in carbon capture storage,’ and others in committing to sustainable aviation fuel.
“’We literally did $150B of financing of green projects around the world last year,” Moynihan said. “’It’s a transition, it has to happen.’”
I apologize failing to note that Moynihan did indeed discuss climate during the event.
Photo credit: Swellesley Report.
Layoffs more common among remote workers
Finally today, it's rarely easy to layoff an employee.
But it’s perhaps a little easier when the employee works remotely.
Full time remote workers were 35% more likely to be laid off in 2023 than peers who put in office time, the Wall Street Journal reports.
Ten percent of fully remote workers were laid off last year, compared with 7% of those working in an office full time or on a hybrid basis.
Other studies indicate executives often reward in-office employees with promotions and favorable assignments.
“When a hiring manager gets news they have to cut 10% of the staff, it’s easier to put someone on the list you don’t have a close personal relationship with,” the head of one outplacement firm tells the Journal, saying it’s simply harder to build attachments to people you don’t see face to face.
That’s what you need to know for today – 2 FA Day --unless you need to know, how to correctly pronounce February.
Take good care this weekend. Buy local.
Greg Reibman (he, him)
President & CEO
617.244.1688
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