DOMESTIC LIFE INSURANCE COMPANIES

THE TAXABLE YEAR FOR

1582. No.• ••

of the

Relative to

• •

RESOURCE COMPANY

March 2, 1994.

ENDED DECEMBER 31, 1993.

MASSACHUSETTS CAPITAL

THE SEVENTEENTH REPORT

(under Section 20 of Chapter 816 of theActs of 1977)

SENATE.

1994] SENATE - No. 1582 3

REPORT OF THEMASSACHUSETTS CAPITAL RESOURCE COMPANY

PURSUANT TO SECTION 20 OF CHAPTER 816OF THE ACTS OF 1977

This report of the Massachusetts Capital Resource Company (the"MCRC") is filed with the Clerk of the Senate pursuant to Section 20of Chapter 816 of the Acts and Resolves of the General Court ofMassachusetts for 1977 (the "Act") and is being filed for the taxableyear for domestic life insurance companies ended December 31, 1993.

1. Aggregate Cumulative Investment. MCRC was organized as alimited partnership in accordance with the provisions of the Act inDecember of 1977 and, as required, was originally funded by capitalcontributions aggregating $20 million. In accordance with the Act andPartnership Agreement, additional contributions to the capital ofMCRC of $20 million were made in December of 1978, Decemberof 1979, December of 1980 and December of 1981. As of Decem­ber 31, 1992 the aggregate cumulative investment of the Partners was$100 million.

2. Qualified Investments. Aggregate qualified investments of theMCRC actually made as of December 31, 1993 totaled $293,926,410.A detailed list of investments made is set forth in Appendix A.

3. Employment Considerations. MCRC expects that its aggregateinvestment activities as of December 31, 1993 will permit eligiblecompanies to create 8,557 positions in the Commonwealth andpreserve 4,380 existing jobs. The Secretary of Economic Affairs hasreviewed these expectations in the case of 170 of the 187 eligibleborrowers and has independently confirmed that the aggregateactivities of MCRC can be expected to create 8,003 new positions andpreserve 4,115. The expected employment impact of MCRC'sactivities on the remaining 17 eligible borrowers receiving funds isunder review by the Secretary of Economic Affairs. A detailed analysisis presented in Appendix A.

MASSACHUSETTS CAPITAL RESOURCE COMPANY

By: William J. Torpey, Jr.,President.

March 1, 1994

Report of the APPENDIX A

MASSACHUSETTS CAPITAL RESOURCE COMPANY....

PURSUANT TO SECTION 12 OF CHAPTER 816OF THE ACTS OF 1977As of December 31, 1993

Investment Jobs Jobs Total ConfirmedCompany/Location Amount Maintained Created Jobs Jobs*

Adams Print Works, Inc. $ 200,000 14 0 14 14Adams

7J'1Adams Russell Co., Inc. 5,000,000 0 5 5 5 ~

ZWaltham >

~Adcole Corporation 1,000,000 0 10 10 10 ~

Marlborough IAde Corporation 500,000 0 10 10 10 Z

Q.Newton 1,250,000 0 40 40 - -(Jt

Advantage Systems, Inc. 1,000,000 0 25 25 25QCN

Marlborough

Aeonic Systems 1,000,000 0 45 45 45Billerica

Agromarine Industries, Inc. 350,000 0 67 67 67d/b/ a Bluewater Seafood Corp. ......

~New Bedford =...All Seasons Services 1,833,056 24 23 47

~

47 =-No. Quincy

NO. \.lumcy

Alpha Software Corporation 1,250,000 0 96 96 - joooI.

\C

Burlington \C.iii-~

Amicon Corporation 2,000,000 0 124 124 124Lexington

Analytical Systems 1,000,000 0 75 75 75Engineering Corp. 1,000,000 93 0 93

Burlington

Appex Lunayach Systems 1,450,006 0 29 29 29Waltham 7JJ.

~

Armatron International 5,000,000 0 97 97 97 Z>

Melrose -3~

Aspen Technology, Inc. 1,000,000 0 13 13 13 ICambridge 1,500,000 0 21 21 21 Z

0

Autographix, Inc. 2,250,000 0 58 58 58.joooI.

Waltham fAocN

Baird Corporation 1,579,985 0 159 159 159Bedford

L.G. Balfour Company 3,000,000 0 331 331 331North Attleboro

Banyan Systems Corp. 2,500,005 0 74 74 74Westboro

fA

Investment Jobs Jobs Total Confirmed 0'\

CompanyfLocation Amount Maintained Created Jobs Jobs·

Barnes Worsteds, Inc. 150,000 42 6 48 48Kingston

Basic Health Management, Inc. 150,000 0 12 12Boston

Rudolph Beaver Company 1,500,000 0 55 55 55Waltham

Biodevelopment Labs 1,000,000 38 ° 38 - rJJ~

Cambridge Z>

Bitstream Inc. 1,350,100 ° 53 53 53 ~

Cambridge~

IBIW Cable Systems 2,500,000 250 ° 250 250 ZBoston 0.

~

Braxton Electronics 150,000 14 0 14 14 tilQC

ChicopeeN

BTU Engineering Corporation 1,523,725 88 ° 88 88Billerica

Burt Printing Co., Inc. 300,000 55 ° 55 55Chicopee

~

Business Research Corp. 1,000,000 0 12 12 12 a::ItO

Boston...f':l

=-

---_._.._-_._----_.- -- ----. -~.------

Butcher Polish Co. 500,000 0 22 22 22~

\C\C

Marlborough oI:lo......Butler Automatic, Inc. 3,000,000 0 112 112 112Canton

Buxton, Inc. 4,000,000 142 0 142 142Agawam

Cadec Systems, Inc. 437,938 0 8 8 8Littleton

rnCandela Laser Corp. 750,000 0 26 26 26 ~

ZWayland >John R. Casey, Inc. 500,000 15 0 15 15

1-3~

Cambridge IChemDesign Corporation 4,859,616 0 80 80 80 Z

0

Fitchburg.~

<.II

Clean Harbors, Inc. 5,000,000 0 30 30 QC- ~

Quincy

Clearpoint Inc. 1,000,000 0 42 42 42Hopkinton

Coca-Cola Bottling Company 1,000,000 0 37 37 37of Northampton

Northampton

-....I

Investment Jobs Jobs Total Confirmed QC

CompanyfLocation Amount Maintained Created Jobs Jobs*

Commodore Foods, Inc. 600,000 0 62 62 62Lowell

Communications General Corp. 200,001 7 0 7 7Acton

Community Care Systems 2,000,007 0 84 84 84Boston

Computer Corporation of 1,500,000 0 69 69 69rJ).

~

America ZCambridge >

t-3~

Computer-Link Corporation 342,000 0 20 20 20 IBurlington ZConversion Devices, Inc. 600,000 0 63 63

0- .

~

Brockton UlQCN

Coppus Engineering Corp. 6,187,500 0 102 102 102Worcester

Course Technology 750,000 0 11 11 11Cambridge

Credit Technologies, Inc. 750,000 0 53 53 53 P""""I

Waltham 3:=Crosby Vandenburgh Group 1,000,000 0 0

..0 0 f")

=Boston

noslon

Crystal Systems, Inc. 622,808 0 34 34 34 ~

\C

Salem\CoIlo....,

Custom Silicon, Inc. 500,000 0 20 20 20Lowell

Datamarine International, Inc. 1,800,000 0 34 34 34Pocasset

Data-Signal Corporation 100,000 6 13 19 19Watertown

Data Terminal Systems, Inc. 4,000,000 0 82 82 82'JJ~

Maynard Z>

DBS, Inc. 4,019,669 300 ° 300 300...,~

d/bl a Farrington Business ISystems, Inc. Z

Randolph 0

~

Design Components 350,000 0 0 0 °(.IIQC

MedfieldN

Diagnostic Aids Co., Inc. 325,000 ° 8 8 8North Billerica

Diano Corporation 275,000 34 0 34 34Woburn

Dorman-Bogdonoff Corporation 650,000 24 24 48 48Andover

\C

Investment Jobs Jobs Total Confirmed ~

CompanyfLocation Amount Maintained Created Jobs Jobs* =

Electronic Designs, Inc. 1,500,000 0 21 21 21Hopkinton

Emulogic, Inc. 681,716 0 53 53 53Westwood

Epsco, Inc. 3,500,000 33 63 96 96Westwood

Exe~gen Corporation 600,000 0 25 25rJ).

- t-rj

Newton Z>

Fetco International, Inc. 1,750,000 0 45 45 45 ~t-rj

Rockland IFiberspar & Tube Corporation 500,000 0 40 40 - Z

0Rockland .

~

Fire Control Instruments 1,500,000 62VI

0 62 62 oc~

Newton

First Security Services Corp. 400,000 0 360 360 360Boston

Fletcher Granite 2,100,000 44 0 44 44Chelmsford ,......

Foster Medical 2,540,000 46 0 46 463:=...

Dedham t':l

='"

Foster-Miller Associates, Inc. 750,000 0 52 52 52 ~

'CWaltham 2,000,000 0 50 50 'C

- ~lo0o.0oi

Fruit Salad, Inc. 500,000 0 50 50 50Lawrence

Louis M. Gerson Co., Inc. 2,100,000 0 55 55 55Middleboro

The Gloucester Corporation 300,000 0 63 63 63Lynn

Haskon, Inc. 1,500,000 429 0 429 429rJ1trj

Taunton Z>

Heffernan Press, Inc. 250,000 145 0 145 145 ~trj

Worcester IHenco Software, Inc. 1,000,000 0 80 80 80 Z

0Waltham .

~

Hologic 1,000,000fJl

0 42 42 42 QClN

. Waltham

Hyannis Harbor Tours, Inc. 4,200,000 0 20 20 20Hyannis

Independent Cable 1,000,000 0 18 18 18Hudson

Infocom, Inc. 2,000,000 0 0 0 0Cambridge ~

~

Investment Jobs Jobs Total Confirmed ~

Company/Location Amount Maintained Created Jobs. Jobs·~

«

Input Output Computer 1,450,000 0 185 185 185Services, Inc.

Waltham

INSYTE 300,000 0 12 12 12Newton

Inte1co Corporation 1,000,000 0 32 32 32Acton rJ1

~

Interactive Images 550,000 0 13 13 13 2::>Woburn ~

19 19~

Instron Corporation 4,000,000 0 19 ICanton 2:Interactive Management 449,890 0 34 34 34

0.~

Systems, Inc. !.IIoc

Belmont ~

Interactive Training 2,100,000 0 55 55 55Systems, Inc.

Cambridge

Intermetrics, Inc. 1,000,000 0 151 151 151Cambridge

~

a::Jasco Aluminium Products, Inc. 200,000 100 0 100 100 =...

f")

Peabody ="

<~--------:-:-,. ~-~ .. ~---"" .. " ..~ ~

J & S Caterers, Inc. 125,000 80 0 80 80 100oi\C

Boston \C~......

Joan and David, Inc. 3,500,000 36 15 51 51Everett

J ones and Bartlett Publishers 650,000 0 10 10Boston

Kaye Instruments, Inc. 2,575,000 0 118 118 118Bedford

Kervick Enterprises, Inc. 1,000,000 0 34 34 34\J').

~

Worcester & Springfield Z;>

Keydata Corporation 1,000,000 0 59 59 59 1-3~

Watertown IKeyTek Instruments 1,000,000 0 77 77 77 Z

0Burlington .

100oi

Kinefac Corporation(Jl

1,050,000 0 20 20 20 QCN

Worcester

Kybe Corporation 1,000,000 31 7 38 38Waltham

Laserdata 1,000,000 0 14 14 14Tyngsboro

Liant Software Corporation 2,300,000 0 78 78 78Framingham 100oi

~

Investment Jobs Jobs Total Confirmed ~

CompanyfLocation Amount Maintained Created Jobs Jobs*oI:lo.

Liquid Metronics, Inc. 750,000 0 34 34 34Acton

LSE Corporation 450,000 42 0 42 42Woburn

Ludlow Textiles Co., Inc. 600,000 60 27 87 87Ludlow

Mac-Gray 4,000,000 22 0 22 22 rJJ.~

Cambridge ~

>Malden Mills, Inc. 4,000,000 0 200 200 200 1-3

~

Lawrence IMarine Optical, Inc. 1,700,000 0 21 21 21 ~

cEaston .

~

Market Forge Company 350,000 134 0 134UI

- ocN

Everett

L.E.Mason 1,750,000 0 24 24 24Hyde Park

Metritape, Inc. 400,000 0 48 48 48Concord .......Microcom, Inc. 750,002 0 45 45 45 ~

lID...Norwood n

=-

--

Microwave Logic 600,000 0 25 25 25 .....\C

Chelmsford \Co&:;io........

Miller Golf, Inc. 300,000 12 3 15 15Randolph

Millitech Corporation 1,250,000 0 35 35So. Deerfield

MPM Corporation 1,000,000 0 30 30 30Franklin

Multisystems, Inc. 500,000 0 40 40rJj

40 t'!'j

Cambridge Z>

National Mentor, Inc. 600,000 0 25 25 25~~

Boston INew England Mackintosh 1,060,000 224 44 268 268 Z

0Brockton .....

(.II

New Media Graphics 917,942 8 134 145 145 ocN

Billerica

Newton Foods, Inc. 750,000 0 15 15 15Canton and Taunton

W.H. Nichols Company 4,000,000 0 144 144 144Waltham

North Shore Weeklies 3,740,534 85 - 53 138 138Ipswich .....

(.II

Investment Jobs Jobs Total Confirmed ~

CompanyfLocation Amount Maintained Created Jobs Jobs· C\

Nypro, Inc. 2,000,000 0 205 205 205Clinton

Office Unlimited, Inc. 1,000,000 0 41 41 41Boston

Optical Corp. of America 1,500,000 55 0 55Marlborough

Optical Publishing Co., Inc. 100,000 0 15 15 15 r.ntr:l

Pittsfield Z>

Optronics International, Inc. 750,000 0 73 73 73 ~

Chelmsfordtr:l

IOrganizational Dynamics, Inc. 5,500,000 0 26 26 26 ZBurlington

Q.~

Orion Research Incorporated 2,000,000 0 190 190 190 tilQC

Cambridge~

Pagg Corporation 750,000 0 30 30 30Hopedale

Parks Corporation 1,900,000 0 30 30 30Somerset

~

Pathway Designs 800,004 0 36 36 36 :::,.,Wellesley

...f")

='"

John 1. Paulding Co. 600,000 92 18 110 110 """'"\C

New Bedford \C.Ilo.--..

PCI Group, Inc. 2,000,000 81 0 81 81New Bedford

Pencept, Inc. 500,870 0 21 21 21Waltham

Perception Technology, Inc. 400,000 0 32 32 32Canton

Charles A. Perkins 800,000 0 0 0 07J).tJ!j

Lancaster Z>

Phoenix Controls Corporation 750,000 ° 21 21 21 ~tJ!j

Newton IPilot Software, Inc. 750,000 0 20 20 20 Z

0Boston .

"""'"f.I'IPolar Corp. 3,000,000 ° 105 105 - QC

N

Worcester

Powell Advertising and Design 100,000 0 0 0 0Boston

Precision Robots, Inc. 2,000,000 0 47 47Billerica

Production Assistants 50,000 8 7 15 15Waltham """'"'-I

Investment Jobs Jobs Total Confirmed ~

Company/Location Amount Maintained Created Jobs Jobs*QC

Project Software & ! 2,000,000 0 70 70 70Development

Cambridge

Protocare, Inc. 1,132,207 0 16 16 16Waltham

Quabbin Industries, Inc. 200,000 25 0 25 25Chicopee r.n

trj

Rapid Processing Co., Inc. 500,000 0 6 6' 6 Z>Haverhill ~trj

Research Plastics, Inc. 250,000 ° 12 12 12 ISalem ZRemediation Technologies, Inc. 1,500,000 ° 20 20

0- .

~

Concord UIQC~

Rex Cut Products, Inc. 400,000 39 9 48 48Fall River

Rising Paper Company 500,000 ° 10 10 10Housatonic

Sanitoy, Inc. 1,000,000 ° 46 46 46 .......Fitchburg ~

~

Scott & Duncan 335,000 32 ° 32...

32 ~

="Boston

.k : OJ "'.~ _''' "~=''_O''~_-T __~''''_''=''''"'~'''''''''''''''~''''''-''':;C ~ -'-.';"'.:"';'y; ",.,.c""'~"';$ .. .·n t ;:"=_:

Boston

Semicon, Inc. 1,000,000 0 182 182 182 ~

\C

Burlington \C~........

Signal Technology 1,625,000 0 119 119 119Weymouth

Simonds Cutting Tools 4,000,000 190 35 225 225Fitchburg

Sippican, Inc. 3,000,000 208 0 208 208Marion

Solar-X Corporation 350,000 50 0 50 50fJ1t'!'j

Newton Z>

Southworth Company 8,412,500 0 109 109 109 ""'3t'!'j

West Springfield ISpire Corporation 3,000,000 0 45 45 45 Z

0Bedford .

~

UISteinbrecher Corporation 1,000,000 0 62 62 - oc

N

Woburn

Sterlingwale Corporation 1,000,000 97 40 137 137Fall River

Steven Paper Mills, Inc. 250,000 173 30 203 203Westfield

Stull & Lee 150,000 0 21 21 21Boston ~

\C

Investment Jobs Jobs Total Confirmed N

Company/Location Amount Maintained Created Jobs Jobs·:>

T.B. Sugrue, Inc. 300,000 38 0 38 38Belchertown

Paul Sullivan 300,000 0 64 64 64Tennis Sportwear, Inc.

Methuen

Tad Technical Services Corp. 2,000,000 0 150 150 150Cambridge r.n

~

Taunton Silversmiths 600,000 3 0 3 3 'Z>Taunton ~~

Tech Pak, Inc. 2,000,000 0 15 15 - IPeabody 'ZTelechron, Inc. 500,000 103 29 132 132

Q..-Ashland <.II

QCN

Thermo Cardiosystems, Inc. 3,000,000 0 35 35 35Waltham

Thermo Electron Corporation 10,000,000 0 300 300 300Waltham

Town & Country Jewelry 4,000,000 0 100 100 100 ,......Mfg. Corporation ~

~

Chelsea ...n='"

W'i!"'%='t :i~.j _~"_"._" __,",'_~'=_."_=C_~__~'_'~·'<_"__~_'_"·~~'

=-

Trina, Inc. 2,196,574 68 10 78 78 ~

"C

Fall River "C~.....

United Technical 600,000 5 0 5 5Product, Inc.

Canton

Universal Industries 2,015,000 94 0 94 94Mattapoisett

Vicor Corp. 500,000 0 26 26 26Andover 'JJ.

~

Visual Technology, Inc. 5,000,000 0 46 46 46 Z>Andover ..,~

Vivid, Inc. 966,119 0 48 48 48 IWaltham ZWaltham Grinding Wheels, Inc. 500,000 28 27 55

055

~

Westfield (.IIoc~

Wang Laboratories, Inc. 5,000,000 0 380 380 380Lowell

B.T. Wagner 200,000 0 0 0 0Stockbridge

Warren Pump, Inc. 3,000,000 80 0 80 80Warren

~~

Investment Jobs Jobs Total Confirmed ~

Company/Location Amount Maintained Created Jobs Jobs* ~

Webster Spring Co., Inc. 3,500,000 ° 19 19 19Oxford

0-:1'Whitesmiths, Ltd. 250,000 4 6 10 10e:

It>

c Concord0(')r:: E.T. Wright 1,750,000 113 ° 113 113aIII;:l Rockland..:t: 00e: Xylogics, Inc. 1,000,000 ° 26 26 26 trjb:l 2:III BurlingtonIII >::s~ Zoll Medical Corporation 1,000,000 ° 43 43 43

l-035' trj...

Woburn IIIIQ.

0 2:::s187 Companies $293,926,410 4,380 8,557 12,937 12,118~ 0

0.

0 ....~

* Confirmed Jobs - On the basis of information previously submitted, the Office of Economic AffairsUI

l:tl QC

III ~(') has reviewed the investments made by MCRC. This column sets forth the findings of that Office through,<,(')

;- the date of this report. The remaining investments which have not yet been confirmed are under reviewQ.

: by the Office of Economic Affairs.'0 ~III

3::"~...n=-...."C"CoIOlo.......

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