Jobless rates drop in 17 Mass. labor areas
Local unemployment rates dropped in 17 labor market areas, remained the same in five areas and increased in two in the state during the month of May, the Executive Office of Labor and Workforce Development reported. Compared to May 2015, the rates were down in all areas. Fourteen of the 15 areas added jobs over the month, with the largest gains in the Boston-Cambridge-Newton, Barnstable, Worcester, Haverhill-Newburyport-Amesbury, Lowell-Billerica-Chelmsford and Framingham areas. From May 2015 to May 2016, 14 areas added jobs with the largest percentage gains in the Barnstable, Pittsfield, Haverhill-Newburyport-Amesbury, Worcester and Lowell-Billerica-Chelmsford.
MassEcon director focuses on real estate
Doug Kehlhem, senior director at MassEcon, was joined on a panel at the recent MetroWest Economic Development Forum by MassEcon members Paul Joseph, president of the MetroWest Chamber of Commerce, and Art Robert, director of Community and Economic Development for the town of Framingham. Lynn Tokarczyk, president of Business Development Strategies, James Errickson, director of Community & Economic Development for the town of Natick, and Vance Freymann, director of project development for Consigli Construction, also served on the panel, where they discussed key resources for economic development in MetroWest. Kehlhem’s presentation focused on real estate availability in MetroWest, highlighting the ReadyMass100 properties and successful projects in the region. The ReadyMass100 is an online portfolio of sites in Massachusetts that have been evaluated by a team of real estate experts and state partners and are certified for immediate occupancy or development. The properties have met key criteria relating to infrastructure, permitting, size and readiness. Thirteen of ReadyMass properties are within MetroWest. Based in Watertown, MassEcon is the state’s private sector partner in promoting Massachusetts as the premier location for business growth. For more information, visit massecon.com.
Ashland business group awards scholarships
The Ashland Business Association has awarded scholarships to Tucker Ahlers and Amanda DeBonee, who each received a check for $1,500. Ahlers will attend Brandeis University to study history. He seeks to teach history at a college, a U.S. National Park or a history museum. DeBonee will attend UMass Amherst to study nursing. She seeks to obtain a doctorate in nursing and become a nurse practitioner. Each year the association awards scholarships to high school seniors residing in Ashland who best demonstrate good work ethics, motivation, creativity and business/community interests. Scholarships are funded by contributions from local businesses.
Waltham’s Tesaro announces operating results
Tesaro Inc., a Waltham-based oncology-focused biopharmaceutical company, recently reported operating results for first quarter 2016, showing a net loss of $90.8 million compared to a net loss of $48.5 million for the first quarter of 2015. Product revenue for the first quarter of 2016 totaled $0.2 million and included sales of Varubi to specialty pharmacy customers. Research and development expenses increased to $52.6 million compared to $33.5 million for the first quarter of 2015, driven primarily by higher costs related to the ongoing registration trials of niraparib, the advancement of its immuno-oncology portfolio, and activities related to rolapitant IV, in addition to increased headcount. Selling, general and administrative expenses increased to $30 million compared to $11.2 million for the first quarter of 2015, primarily due to commercial activities in support of the launch of Varubi, increased commercial headcount, including the establishment a field sales organization, and higher professional service fees. For more information, visit tesarobio.com.