CABI hosts business development ‘Lunch & Learn’

L-R: CABI members Benny Wong, Steve Costello, Richard Staiti, Ty Conder, Charles Doody, Bob Burr, Eileen Scafidi and Peter Milano (Ken Berman photo)

The Canton Association of Business & Industry (CABI) invited its members to a Lunch and Learn event entitled “Shaping the Future of Business in Canton: Economic Outlook and Solutions for Business Growth” on Thursday, February 15, At the meeting, hosted by the Bank of Canton at its headquarters on Turnpike Street, state, county and town officials spoke about resources available to business owners, the distribution of federal funds to local communities, and upcoming projects in Canton.

Gene Manning is a current board member and past president of CABI and chairman of both the Canton Board of Assessors and the Canton Economic Development Committee. He has been involved in the Canton business community for over 25 years and worked on many complex business initiatives for the town, including Point32Health, Dunkin Brands, Harbar and Organogenesis. He spoke with Ty Conder, Boston Mutual Life Insurance Co. and CABI board president, about topics and speakers for the event.

“We thought this group would be really timely,” he said. “We thought we could share some information about the great support services that they offer Canton.”

Manning went on to highlight a few big projects in town that were recently completed, with the biggest one being the opening of TopGolf in November of 2023. Select Board Vice Chair John Connolly was very involved with TopGolf coming to Canton, along with the efforts of state Representative William C. Galvin (D) and state senators Paul Feeney (D) and Walter Timilty (D) toward the Dedham Street bridge expansion. Another project is the conversion of the former Boston Financial Data Services at 30 Dan Road into a biotech facility.

Manning said the executive leadership of current and past Select Boards has a strong commitment to working with the local business community. “The number-one thing is their business-friendly engagement with everybody in the community when a new business comes in,” he said, noting that he has worked with many Select Board chairs and vice chairs over the years. “Every single one of them will say, ‘We’re happy to have you in Canton. What can we do for you?’ And I think that’s what sets us apart.”

Also addressing the audience was Steve Costello, a CABI board member and treasurer and president and CEO of the Bank of Canton. Costello started his remarks by thanking board members Eileen Scafidi of Scafidi Communications and Joe Emerson of Red Ball Promotions for their efforts in planning the event. He then reinforced Manning’s praise of the slate of speakers.

“These people make a difference in helping businesses expand in the commonwealth of Massachusetts,” he said, explaining that they are responsive to requests for resources and help and are committed to supporting businesses in Canton. “If you’re looking to grow, particularly in Canton, we’ll bring the expertise in.”

During his detailed presentation, Costello noted that in the last 25 years, economic growth in Canton has increased due to town officials encouraging and supporting development in the town. CABI has played a strong role in both economic development and in charitable donations to organizations, including scholarships for graduating high school seniors, the food pantry, and the Pappas Rehabilitation Hospital for Children. “I take pride in what we have been, as a member of CABI,” he said.

During an update about Canton, Town Administrator Charles Doody acknowledged that when he served as the town’s fire chief, he saw CABI’s generosity and support firsthand. “We received many grants that were able to fund training and equipment to benefit the Fire Department and ultimately the rest of Canton,” he said.

In his new role, a focus for him was finances. “As town administrator, I certainly learned quickly that the business community in Canton is the backbone of our economic stability here in Canton, along with our potential tax base,” he said. He discussed upcoming items, including the multi-family zoning requirement for MBTA Communities, the Canton Electricity Choice Program, the construction of a new middle school, the potential use of Canton hotels and state properties in the town to help with the migrant housing crisis, future use of the St. Gerard’s Church property, and the finalization of a new trash/recycling contract.

CABI members listen to one of the presentations at the Lunch & Learn event. (Ken Berman photo)

Canton native and CABI board member Richard Staiti was elected Norfolk County Commissioner in 2020. Prior to that, he was a teacher in the Canton Public Schools, a member of the Canton Select Board and a library trustee. He spoke about the American Rescue Plan Act (ARPA), the federal COVID relief initiative which has provided more than $137 million in funding for Norfolk County projects. “Before we’re done, the town of Canton is going to get about $7 million,” he said. Some of the funds have been used for the Paul Revere Heritage Site, the Canton Fire Department, and for water and road improvement projects.

Benny Wong is the vice president of investment banking for MassDevelopment. Prior to joining the state agency, he worked at Quick & Reilly, Inc. (now Bank of America Merrill Lynch) where he provided investment banking, cash flow, debt structuring, and technical analysis services for organizations, companies, and municipalities throughout New England.

“In FY2023, we financed or managed over 500 projects, generating $2 billion across Massachusetts,” Wong said of MassDevelopment. “That includes greater Boston all the way west to the Berkshires.” MassDevelopment serves businesses, housing developers, nonprofits, banks, and other organizations. Bank of Canton has been one of its partners.

Wong said Canton businesses have worked with MassDevelopment’s Taxes and Bonds program, which allows businesses to take out a commercial loan at a lower interest rate. A company can then finance an expansion or build out of a building at lower interest rates.

Also addressing attendees at the Lunch and Learn was Peter Milano, who serves as the director of strategy and business development for the Massachusetts Office of Business Development.

Milano discussed the Healey-Driscoll administration’s draft economic development plan called Team Massachusetts: Leading Future Generations. The plan comprises three main areas: fundamentals, talent, and sectors. He said that housing, transportation and infrastructure are frequently mentioned when talking about fundamentals; both topics present serious challenges to potential residents, especially those for whom home ownership can seem a distant dream, due to lack of inventory, high housing prices, and interest rates. “The younger generation entering the workforce are at a serious disadvantage,” he said. “And that’s caused us to lose some of the students we trained right here in Massachusetts.”

Green technology is one of the more talked-about talents. “We know that it’s a huge job creator,” he said. Another is tourism. This year will mark the 250th anniversary of the Industrial Revolution and Milano said there will be a strong push across the state to highlight history, culture, and museums. The life sciences are one of the more successful sectors in Massachusetts, and Milano said that a commitment to life sciences as well as advanced manufacturing and robotics will continue.

“There are huge benefits to be part of an event like this,” Conder said, explaining that CABI is a philanthropic organization that gives members access to elected officials at the town, county and state levels, and also provides opportunities for networking.

Share This Post

Short URL: https://www.thecantoncitizen.com/?p=122201