Wealth Issue 2024 | Beer hall | Got IPOs?

Welcome to the BBJ's LinkedIn Weekly Edition! On this Friday the 13th (????????????), this is Managing Editor Don Seiffert to bring you the week's biggest business news.

Where the wealth is moving in Mass.

Conversations about whether wealthy Massachusetts residents are indeed moving to states with more favorable tax policies has been more frequent, especially since the passage of the so-called “Fair Share amendment” — better known as the “millionaires tax — in late 2022.

But those discussions were going on well before 2022, as many people pointed to the estate tax, the capital gains tax or the “sting tax” on S-corps as business-unfriendly policies that are potentially slowing our economic growth.

This week, we present our Wealth Issue 2024 , which looks closely at the movement of wealth into, out of and around Massachusetts, thanks to data from the U.S. Census and the IRS. Some of the takeaways from our analysis include Trajan Warren 's story about how, while a significant percentage of residents are indeed leaving the Bay State for Florida, the percentage is bigger in several surrounding states . Also, Grant Welker answers the musical question of which is better, North Shore or South Shore — at least according to which side more people are moving to.

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On Sept. 26, join us for our third installment of Boston Works, a yearlong project that hones in on the critical issue of workforce development. This event will focus on climate resilience and how it’s shaping development around Boston. Click here to register .

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Here's what else happened this week

IPO mini-drought ends

No Massachusetts companies have gone public since June. Maybe we're spoiled here, but that's a long time for the Bay State. Regardless, on Friday, two biotech firms held IPO’s raising a combined $530 million. One of those IPOs was significantly larger than it had signaled just a few days ago, which bodes well for the possibility that the IPO window might be opening up a bit.

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Mall in Marlborough is on the block

The receiver for Marlborough’s Solomon Pond Mall is working to engage a broker to market and sell the property after its value has plummeted over the past decade . Greg Ryan tells it like it is.

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Charles River Labs lays off 650

The Wilmington-based contract research giant Charles River Laboratories has finally put some numbers on the “restructuring” it announced last month, when it reported a decrease in Q2 revenue compared to the year prior. Hannah Green has the news.

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Last, but not least, a new place to get some beers

The The Great American Beer Hall , a venue spanning 17,000 square feet with an 4,800-square-foot outdoor beer garden in Medford, held a grand opening Aug. 31 . Grant Welker has that and more recent retail openings and closings.

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