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Business Spotlight: Five Star Surgical, Inc. - A Star, Indeed November 25, 2008, at the Massachusetts Alliance for Economic Development’s Fifth Annual Team Massachusetts Economic Impact Awards Luncheon, New Bedford’s own, Five Star Surgical was awarded a “Bronze” for its positive impact on the state’s economy. This annual event was created to honor established and emerging companies from each of the five regions of the state that have made a positive impact on the economy of Massachusetts through job creation, financial investment, and community involvement. Five Star was in good company, with The Kraft Group winning State Champion and fellow Southeasterner, Organogenesis winning a Silver. The panel of judges selecting these impressive winners were impressive in their own right, including: Robert Culver, President & CEO of MassDevelopment; Michael DiGiano, COO of NAI Hunneman; Rick Murphy, Senior VP of National Grid; Kevin Quinn, President of Dacon Corporation; and Jerry Sargent, Executive VP of Citizen’s Bank. Five Star Surgical (John Camara, President), and its sister company, Five Star Manufacturing (Dave Cabral, President), repair, refurbish, and manufacture general and orthopedic instruments. The New Bedford-based company has grown over the last decade from a start-up with 3 associates into an industry leader with 100 employees and benchmark-quality products and services. Five Star’s expansion has been particularly impressive in recent years: in 2002, the 4-year-old company invested $1.5 million in a 20,000 square foot facility in the New Bedford Business Park. In 2006, Five Star acquired a Taunton company and expanded its New Bedford facility by an additional 17,500 square feet. In March of 2007, the facility expansion was completed. Since March 2007, Five Star has invested $2.75 million to create 52 permanent positions and is now seeking additional associates to meet their current growth. As a result of these expansions, Five Star has become one of the top 10 employers in the New Bedford Business Park. Five Star is a vital part of the Greater New Bedford area economy through its investments in infrastructure and its job creation, and is a civic contributor through its support of New Bedford’s local sports team and the United Way of Greater New Bedford. Five Star Manufacturing’s President, Dave Cabral, is a member of the Greater New Bedford Workforce Investment Board, Inc. (WIB) and employs voc tech students during the summer in support of the Mayor’s Summer Youth Jobs Program. 227 Union Street, Suite 206, New Bedford, MA 02740-5946 PH 508.979.1504 • FAX 508.979.5680 E-mail: Webmaster@gnbwib.org |