Advocacy in Action: Promoting a Business Friendly Environment in North Central Massachusetts

State and local leaders tour a local manufacturer. Pictured are Mayor Dean Mazzarella of the City of Leominster; State Senator Michael Rodrigues, Chair of the Ways & Means Committee; and Senator John Cronin.

One of the most valuable and often overlooked functions of the North Central Massachusetts Chamber of Commerce is the role as the region’s most powerful champion for the business community. The Chamber is uniquely positioned at the crossroads that connect businesses of all sizes and industries, non-profits, and local and state government to tackle the tough issues and get things done to ensure businesses can succeed and thrive in the region.

“I see our Chamber as both a respected facilitator and a strong networking hub,” said Mark Freeman, President, SteelFab, Inc., located on Crawford Street in Fitchburg. “The Chamber staff advocate and facilitate movements in an effective way, and they are excellent at using their relationships within local and state government and in the community to get the right people to the right meeting so we can get things done.”

And Freeman should know. As a longtime business owner in Fitchburg, Freeman, along with dozens of other business owners, worked with the Chamber to achieve a single tax rate in the city of Fitchburg following years of daunting work with little progress. “We never really made a ton of progress over the years going from a spilt tax rate to a single tax rate, but experienced incremental reductions,” he said.

Following more than 30 years of fighting what Freeman called an “uphill battle,” the Fitchburg City Council adopted a single tax rate with an 8-2 vote in 2019. “I believe we achieved this because the Chamber was very active to not only engage with candidates running for office, but by also then inviting the candidates who won their respective seats to meet with us as business owners and hear our concerns. The Chamber really leaned into this for us, and I think this achievement is a huge development for the city and region.”

Not only did the Chamber help facilitate discussions to achieve the single tax rate, which affected all businesses in the city, it also helps individual and clusters of businesses who experience a challenge and need some extra advocacy.

Take Crawford Street in Fitchburg, which is home to more than 20 businesses and some one-and-a-half miles of telephone pole wires, all of which did not provide high-speed internet services until 2017. Up until then, businesses on this well-traveled road were forced to deal with unreliable and weak service which affected their operations and daily business tasks. “We really needed the high speed internet to make our businesses run smoothly, but we just couldn’t get it to work with our service providers,” said Freeman. “The Chamber reached out to Fitchburg Mayor Stephen DiNatale and other advocates to have the service providers take a fresh look at what we needed. In the end, Mayor DiNatale was able to help bridge the gap to obtain the service with the state and help us get the bandwidth we needed, and the Chamber never wavered in their commitment to help us.”

The Chamber organizes numerous opportunities to connect members and elected officials. Pictured here (L-R) are Representative Michael Kushmerek; Chris Hendry, President of IC Credit Union; John DiNapoli of Unitil; Governor Maura Healey; Roy Nascimento, President of the Chamber; and Worcester County District Attorney Joseph Early, Jr. at the Chamber’s Legislative Reception.

Freeman added that if the pandemic occurred when the former service was in use there likely would not be a business today. “Without the high-speed internet, we wouldn’t have been able to serve our customers by providing virtual inspections, use our systems and honestly just get work done, so we are happy to have the service and I know our neighbors on the street are happy about it as well.”

As Freeman pointed out, the Chamber is a “networking hub,” providing numerous opportunities through the year for members to come together at various events, forums and meetings. The goal with these programs is to make sure that members are informed and have a voice in the decisions that impact the communities in North Central Massachusetts. And, on occasion, the Chamber will also partner with other trade associations to advance an issue important to members or hire outside experts and commission studies on issues that impact the local economy and the future of the region, such as the current labor shortage.

In late 2022, the Chamber released a study, “Worker Shortages and the North Central Massachusetts Region: Engaging Hidden and Future Workers to Grow the Local Economy,” which was prepared by the UMass Donahue Institute’s Economic and Public Policy Research group, a leading provider of applied research to help clients make more informed decisions about strategic economic and public policy issues. Focusing on workforce growth challenges and solutions, the study outlines workforce barriers related to geography, skills, structure, and work-life balance, and includes short-, mid- and long-term recommendations for how to grow the North Central workforce.

“The study was intended to help shape public policy and advance thoughtful solutions to the labor challenges faced by our members,” said Travis Condon, Public Affairs Manager, North Central Massachusetts Chamber of Commerce. “The challenges and issues are very complex and have long-term implications for the region’s future and our ability to compete for talent.” One of the recommendations require all different community stakeholders in North Central to work together to meet the regions work force needs.

Local, state and federal officials joined members to celebrate renovations to the Johnny Appleseed Visitors Center, a project that was championed by the Chamber. Pictured (L-R) are Representatives Natalie Higgins; Meghan Kilcoyne; and Michael Kushmerek.

“As manufacturing is such a huge percentage of our local regional employment base, I’ve worked with the Chamber to engage with high schools and other grade levels on providing opportunities to tour our facility, offer mock job interview experiences, and bring mini-trade shows to school cafeterias during lunch to help spark an interest in the field,” said Freeman. “We owe it to the students to know of the opportunities available to them and the Chamber does a great job of collaborating with local businesses, superintendents and guidance counselors to bring these opportunities to our students and ultimately, help us meet our work force needs.”

Freeman noted the Chamber’s WorkNorthCentral Jobs Board as another great resource for employers and job seekers alike. “This website offers a job seeker the opportunity to view any number of jobs at a variety of employers, which is helpful for us and for those looking for work.”

Tamar Russell Brown, founder of Sitka Creations, a graphic design studio in Shirley providing clients with creative and effective graphic and web design and visual communication services, said she believes she would not be where she is today without the Chamber.

In addition to her location in Shirley, Russell Brown used to have a gallery on Main Street in downtown Fitchburg. The Chamber helped secure funding in concert with NewVue Communities to open the Gallery in 2016.

Upon opening her gallery on Main Street, she realized the sidewalk was uneven and needed repairs as many people in the older population were visiting the gallery and she was worried the sidewalk was not safe for her visitors. “I called the city and didn’t get the immediate attention we needed so I reached out to Chamber who helped get the issue resolved,” she recalled. “The Department of Public Works came out and fixed my sidewalk, so it really shows the power of the Chamber to help small businesses get what they need.”

When it comes to guiding its advocacy efforts, the Chamber only needs to look to its member-led Government Affairs Committee. This non-partisan committee meets to discuss local, state and federal priorities and is comprised of members from diverse industries. It is responsible for reviewing pending issues for their impact, developing positions and advising the staff and Board on programs that inform and encourage member involvement in its government affairs initiatives.

A delegation of Chamber members meets with Senator Anne Gobi at the State House to discuss legislative priorities.

In addition to the Chamber’s highly popular Legislative and Candidates Reception held each fall before Election Day and an annual Congressional Luncheon which compliments the quarterly Good Morning North Central breakfast series, the Chamber offers opportunities throughout the year to bring together the region’s elected officials, and business and community leaders to discuss topics that matter to them.

An active participant in many of the Chamber’s events, including a recent interview during the Good Morning North Central breakfast series, State Senator John J. Cronin has seen the work of the Chamber firsthand and the environment of collaboration to bring stakeholders from multiple areas together to achieve a common goal.

“From the North Central region to Beacon Hill, the Chamber is known for being an influential voice and an organization that gets things done,” said Sen. Cronin. “As a representative of several of the communities that make up North Central, I appreciate that my constituents have advocates at the Chamber engaging with policy leaders who impact businesses on a daily basis, and I always have my door open to the Chamber to help make connections and build relationships to help our businesses succeed and thrive.”

And businesses are thriving. Russell Brown just celebrated her 20th anniversary in business. “The Chamber knows you and they are such a huge part of the community by bringing so many of us together for after-hours events and networking,” she said. “If you are a member of the community and not involved with the Chamber you would have no idea of the many opportunities that exist for you.”

“This Chamber is where the rubber meets the road,” said Freeman. “There’s a million things the Chamber does, from resources for local businesses to help financing startups and they do it exceptionally well which is evidenced by the many awards and recognitions over the years.” In 2021, the Chamber was a finalist for “Chamber of the Year in the U.S.”

But, as Freeman adds, “We know we have one of the best quality chambers anywhere in the country.”

As a member, you have all of the Chamber’s resources and connections at your fingertips, and we encourage you to take advantage of that benefit and stay connected. If you have an issue or policy concern that you believe the Chamber should be aware of, please reach out to Travis Condon at 978.353.7600 ext. 224 or email him at .

 


Chamber of Commerce | North Central Massachusetts | Economic Development | North Central Massachusetts Chamber | Massachusetts Business | New England Town | Small Town Economy | Worcester County | Local Business | Community Development | Rural Economy | Massachusetts Industry | Business Growth | Quality of Life | Economic Diversity

North Central Massachusetts Chamber Welcomes Tom Meyers to its Professional Staff

The Chamber is pleased to announce the appointment of Tom Meyers as a Senior Marketing Advisor. In this part-time position, he will be responsible for assisting with marketing strategy, managing media buying and copy-writing for the Chamber and its affiliate organizations – Visit North Central Massachusetts and the North Central Massachusetts Development Corporation.

Meyers comes to the Chamber with years of extensive marketing experience. He was the long-time marketing director at Wachusett Mountain Ski Area before semi-retiring in 2021. He continues to work in a part-time Marketing Advisor role at the ski area, as well. Tom is very familiar with the Chamber and our affiliate organizations, having partnered with us in the past on marketing campaigns and having served in the past on the Board of Directors of Visit North Central Massachusetts. Tom has been a long-time advocate of statewide tourism, working closely with the Massachusetts Office of Travel & Tourism and as chair of the Massachusetts Ski Areas Association Marketing Committee. He is also a past winner of MOTT’s Legend of Tourism Award. Earlier in his career he served as the Marketing Director for the Vermont Ski Association.

“I am excited to have Tom join our team. He will be a great help in supporting our efforts to promote our members and the communities of North Central Massachusetts, particularly given our recent growth,” said Roy Nascimento, President & CEO of the North Central Massachusetts Chamber of Commerce. “His experience, connections and industry knowledge will make a positive contribution to our efforts to advance the regional economy.”

He holds a bachelor’s degree in English from Hobart College. He has been a resident of Princeton since 1996. Members can reach out to Tom at 978.353.7600 ext. 226 or via email at .

 


Fitchburg | Chamber of Commerce | North Central Massachusetts | North Central Massachusetts Chamber | Tom Meyers | Chamber of Commerce | New Hire | Senior Marketing Advisor

March Edition of Good Morning North Central Features Dr. Richard Lapidus, President, Fitchburg State University and Larry Casassa, Twin Cities Rail Trail Association Steering Committee

The next edition of the Chamber’s Good Morning North Central breakfast series is scheduled for Friday, March 10, 2023 from 6:45 a.m. to 8:30 a.m. and will take place at Great Wolf Lodge, 150 Great Wolf Drive, Fitchburg, MA. The March edition is sponsored by Aging Services of North Central Massachusetts.

The March edition will feature a presentation from Dr. Richard Lapidus, President of Fitchburg State University on the efforts to renovate the theater block in Downtown Fitchburg into a regional destination and education center.

In addition, Larry Cassassa of the Twin Cities Rail Trail Association will present on the newly constructed Twin Cities Rail Trail. The first portion of the trail officially opened in June for biking, walking and jogging. The pathway runs along Route 12 and connects Downtown Leominster and Downtown Fitchburg. Future phases are planned to extend the trail.

The Good Morning North Central breakfast series is the Chamber’s longest running program. The breakfast series started in 1984 and has evolved into a high-profile, fast-paced and educational morning program geared towards executives, senior managers, professionals and business owners from throughout North Central Massachusetts. Over the years, speakers have included governors, senators, prominent business and civic leaders, authors and celebrities.

The cost to attend the event is just $30 for Chamber members/$45 non-members and includes breakfast. Pre-registration is required. For more information or to register, please contact Kathleen Deal at 978.353.7600 ext. 235, or visit www.northcentralmass.com.

 


Fitchburg, MA | Chamber of Commerce | North Central Massachusetts | North Central Massachusetts Chamber | Chamber Events and Programs | Good Morning North Central 

River Styx Brewing to host February edition of North Central Massachusetts Chamber’s Business After Hours

POSTPONED DUE TO WEATHER: New Date – Thursday, March 2, 2023 from 5:00 p.m. to 7:00 p.m.

River Styx Brewing in Fitchburg will partner with the North Central Massachusetts Chamber of Commerce to host the Chamber’s February edition of the Business After Hours series. The event will take place on Thursday, February 23, 2023 from 5:00 p.m. to 7:00 p.m. at River Styx Brewing located at 166 Boulder Drive in Fitchburg.

River Styx is a popular brewery founded in 2017 by craft beer-lovers Scott and Jackie Cullen. Their main priority is to create flavorful malt beverages. The brewery is a family and pet-friendly destination in the heart of Fitchburg.

Complimentary appetizers and a cash bar will be provided by River Styx as guests connect with old friends and meet new contacts.

“River Styx is really excited to host the Chamber and welcome business and community leaders to our brewery,” said Jackie Cullen, Co-Owner. “We are a small family owned and operated business that is very proud to be a part of the community. We look forward to showcasing our brewery and hope that local business leaders will be able to join us for this fun business event.”

“We are excited to partner with the River Styx Brewing to offer members and their guests the opportunity to network in this wonderful venue,” said Roy M. Nascimento, President and CEO of the North Central Massachusetts Chamber of Commerce. “One of the goals of the Chamber is to offer these types of programs that offer members the opportunity to network with their peers and that also showcase the unique attractions that call North Central Massachusetts home.”

The cost to attend is $15 for chamber members and $25 for non-members, with registration available online at www.northcentralmass.com.

 


Fitchburg, MA | Chamber of Commerce | North Central Massachusetts | North Central Massachusetts Chamber | Chamber Events and Programs | Business After Hours

Clinton Savings Bank is much more than a community bank

Clinton Savings Bank is much more than a community bank.  With 6 branch locations (Berlin, Bolton, Boylston, Clinton, Sterling, West Boylston) and a seventh opening next year in Shrewsbury, Clinton Savings has a major impact throughout Central Massachusetts.

Clinton Savings Bank also has a rich history in the business community, opening its door 171 years ago in 1851.  With 104 employees, the Bank takes great pride in its banking team.

“We are fortunate to have employees that believe in our mission and possess the skill set of reliability, problem-solving, willingness to learn and to ask questions and most importantly teamwork,” said Robert J. Paulhus, Jr., President & CEO.  “Our average tenure is nine years with our longest employee being with us for 43 years.”

Paulhus added that Clinton Savings Bank’s work place culture is a collection of attitudes, beliefs and behaviors that make up the regular atmosphere in a work environment.  “We know that a healthy workplace aligns employee behaviors and company policies with the overall goals of the Bank, he said. “After almost two years of disruption and social fragmentation we continue to create an environment that our employees can be happy and engaged in when working.

Since COVID, Paulhus noted the Bank has adapted to a more flexible hybrid work model, created new personal employee experiences – expanded the employee recognition programs and invested in new technology to help every employee feel more connected and inspired.

Recognizing the past two years have been rough for the business community, however Paulhus is very optimistic about the future.  “Clinton Savings Bank is well-positioned for continued growth and success,” he said. “We will continue to enhance the customer experience, improve capabilities, and create opportunities for future growth. Our vision and mission statements keep us aligned to what’s most important — the well-being of our customers and the communities that we serve.”

Paulhus added that working in a diverse mix of towns in North Central Massachusetts helps represent a “community feel and bind which is what community banking is all about — having the best interest of others in mind and forming personal relationships with customers.”

He feels the Bank’s longevity and trust it has built with its customers is what sets Clinton Savings Bank apart from its competition.  “We have shown our commitment to the people we serve by giving back, whether, it’s monetary or our employees volunteering at non-profit organizations or town events,” Paulus said. “We’ve never closed any of our locations and continue to invest in the towns we serve.”

He also echoed a great sense of pride in how Clinton Savings Bank supports the communities it serves. “We think of ourselves as ‘relationship’ bankers as opposed to ‘transactional’ bankers, said Paulhus.  “We are an integral part of downtown and we know what it takes to be a community bank.  Being a part of the local neighborhoods for over 170 years we have that specialized knowledge of our local neighborhoods and our customers.”  A great example of that support is the Bank’s two full-service branches at Tahanto Regional High School and Nashoba Regional High School operated by the students in the banking program and managed by a CSB Relationship Banker.

While Clinton Savings uses multiple marketing channels to promote itself, Paulhus said “Word of mouth is marketing that you cannot beat.” “We are fortunate to have dedicated employees and a corporator body made up of some great local business people that are on the streets talking about the Bank and encouraging folks to try us,” he added.

Like many businesses today, Clinton Savings Bank relies heavily on digital marketing, as well.  “Since the onset of the COVID-19 Pandemic there has been a shift from using mostly traditional marketing to using mostly digital marketing.” Paulhus noted. “Tools like our website, email, social media, and web-based advertising, along with text and multimedia messages allow us to send more personalized offers and services to match people in different stages of their lives and needs, in real time with a lower cost per lead and higher conversion rate.”

Paulhus said the Bank’s customers are by far its strongest influence.  “They have a huge influence on the success of the Bank or any business in today’s digital age,” he concluded. “They can share their experience either good or bad within seconds using online tools. Having a customer base that is loyal and engaged will drive revenues; without them, businesses cannot continue to exist.”

 


Clinton, MA | Clinton Savings Bank | Chamber of Commerce | North Central Massachusetts | North Central Massachusetts Chamber | Chamber Member | Massachusetts Business | Worcester County | Member Spotlight

North Central Massachusetts Chamber of Commerce supports downtown beautification in Fitchburg through Project Maintain program

Work continues as extension of Chamber’s Community Leadership Institute program

The North Central Massachusetts Chamber of Commerce recently collaborated with InTown Fitchburg to continue the work of improving the downtown Fitchburg business district which began shortly prior to the pandemic shutdowns.

In early 2020, Project Maintain, was created under the guidance of eight reputable organizations and businesses in North Central Massachusetts as part of the Chamber’s annual Community Leadership Institute program (CLI). Following the completion of one project at 655 Main Street, the project was paused due to the pandemic until the Chamber began collaborating with InTown Fitchburg to continue the project work this year.

Projects are designed to improve the appearance of vacant business windows in the downtown area to create interest in future business development and community inclusion. The organizations involved in Project Maintain include the Chamber, NewVue Communities, North Central Massachusetts Development Corporation, Rollstone Bank & Trust, Leominster Credit Union, MassHire and the Arc of Opportunity.

“The Project Maintain team was made up of members working for businesses and organizations with a vested interest in attracting new business to downtown Fitchburg, creating a vibrant place for people of the region to live, work and play, and we were fortunate to have support of the project from the Mayor’s Office and Main Street landlords,” said Melissa Kuehl, Vice President, Marketing, Rollstone Bank & Trust. “Although we did not see our vision come to fruition due to the onset of the pandemic, we are thrilled that our fundraising and other efforts are able to assist in the work that InTown Fitchburg is doing.”

With the financial support provided for Project Maintain, the Chamber granted the funds to InTown Fitchburg to continue the work improving Main Street.

“We are very thankful to the North Central Massachusetts Chamber and the Community Leadership Institute for their contribution and active involvement in our efforts to enhance the downtown business district in Fitchburg,” said Joe Ferguson, Executive Director, InTown Fitchburg. “The contribution from the Chamber’s Leadership Institute helped fund the purchase and installation of commercial self-watering planters to help beautify and improve the atmosphere of downtown. You will see additional self-watering planters along the sidewalks of Main Street in the Spring of 2023.”

The Chamber developed the CLI program to inspire a new generation of community leaders to enthusiastically assume important roles in their community while motivating participants from diverse backgrounds to be influential in the region’s future. Previous CLI projects included the creation of a non-profit organization, The Russell Brooks Foundation, to help with holiday gifts for families when a parent or loved one is undergoing cancer treatments. Most recently, the CLI participants led a holiday drive to raise funds and personal care items for economically, socially and educationally disadvantaged youth through My Turn, Inc., a non-profit that helps people develop their skills, goals, and self-confidence through alternative education, post-secondary career planning, career exploration and employment training.

To learn more about the CLI program, please contact Kat Deal, Events & Program Manager, at 978-353-7600, ext. 235, or at .

 


Chamber of Commerce | North Central Massachusetts | North Central Massachusetts Chamber of Commerce | Community Leadership Institute program | InTown Fitchburg

North Central Massachusetts Development Corporation approves financing to Adams Farm and Slaughterhouse

The North Central Massachusetts Development Corporation (NCMDC), the economic development arm of the North Central Massachusetts Chamber of Commerce, recently approved a loan of $150,000 to Adams Farm and Slaughterhouse to assist toward the purchase of equipment and working capital.

Adams Farm and Slaughterhouse, a third-generation meat processor and retail store located at 854 Bearsden Road, Athol, employs 32 full-time and 11 part-time employees. The farm, which began as a dairy farm in 1919 by Hester Adams, was taken over in 1946 by Lewis Adams, who changed the operations from dairy farm to slaughterhouse. Today, the company is owned and operated by Lewis Adams’ wife, Beverly Mundell, her son Richard Adams, and her daughter, Noreen Heath-Paniagua.

“As a third-generation local business, we take great pride in providing our customers with a variety of fresh meats, dairy products and ice cream they’ve come to trust over the years,” said Mundell. “We appreciate the North Central Massachusetts Development Corporation for their support of our efforts to enhance our business for more generations to come.”

Adams Farm and Slaughterhouse offers customers beef, pork, chicken, smoked meats, lamb, goat and veal at their retail store, as well as homemade deli products, produce, bread, milk, cheese and ice cream. For more information visit, https://adamsfarm.biz/

As a microloan lender, NCMDC can provide loans to small businesses up to $250,000 for working capital, real estate, equipment, inventory, expansion and working with our banking partners to provide gap financing for the final piece of a project.

For more information about the NCMDC loan programs, please call 978.353.7607 or visit NorthCentralMass.com or ChooseNorthCentral.com.

 


Chamber of Commerce | North Central Massachusetts | North Central Massachusetts Chamber of Commerce | North Central Massachusetts Development Corporation (NCMDC) | Adams Farm and Slaughterhouse | Microloan Lender

Any business looking for answers about how to process payments safely and efficiently can look no further than Commonwealth Consulting Group

Any business looking for answers about how to process payments safely and efficiently can look no further than Commonwealth Consulting Group. Headquartered in Worcester, MA, Commonwealth prides itself on being “your partner in the payment industry.”

“Commonwealth Consulting Group was founded in 2010 with a single mission,” said Ilene Holman, account manager, “to ensure every client is processing all forms of electronic payments with the most cost-effective and efficient solutions.”

“For too long, the payment processing industry has benefited from customer confusion,” Ms. Holman explained. “We believe in educating our clients, and we always offer interchange pricing. Our statements are transparent and easy to understand; you’ll always know what your costs are and why.”

Most importantly, Ms. Holman said Commonwealth considers itself a partner in the successful operation and growth of its clients’ business. “We offer free AR cost savings analysis, account reconciliation, online reporting and analysis, virtual terminal gateways, development software, and Level II and Level III pricing options,” she said.

“Unlike some merchant service companies, we’re just getting started after the relationship is established – we’re in it for the long haul. All of this, backed by superior customer service from qualified local representatives is what separates Commonwealth from its competitors.”

Ms. Holman added that she loves doing business in North Central Massachusetts.  “This region is a close-knit, diverse and well-connected business community comprised of many small and medium-sized businesses that rely on the merchant services that we provide,” she said. “This part of the state is also rich in tradition, tourist attractions, and entrepreneurial activity.”

Commonwealth is very involved in giving back to the community that has contributed to its success. “We support a number of youth sports organizations,” Holman noted, “we sponsor several community events throughout the year, and our employees serve on the boards of a number of local organizations.”

As businesses recover from the challenges of the COVID Pandemic, Ms. Holman shared some optimism about the future. “The last two plus years have been challenging for the business community,” she added, “but during the pandemic, we found that many of our relationships were made stronger because we responded to our clients’ need for remote and contactless payments, cash discounting options, and ATMs, all things that made it possible for our clients to adapt to the changed environment.”

“Going forward, those strengthened relationships are generating referrals and continued growth for our company,” she said.

Ms. Holman notes that her team of eight employees “have to be good listeners in order to provide solutions for our customers’ business needs.” She added the staff is “customer-focused, self-motivated, and detail-driven.”  All this is done in a workplace culture which she best describes as “relaxed.”

Commonwealth’s website clearly defines the depths of its services and solutions:

  • Credit card and debit processing
  • B2B solutions
  • PCI compliant software solutions
  • Buy Now, Pay Later options
  • eCommerce
  • Point of service (POS) systems
  • Mobile payments
  • ATMs & ATM vaulting services
  • ACH, EFT, and eChecks
  • Terminals, products, and supplies

In addition to its website, Ms. Holman explained that Commonwealth promotes itself through all of the usual channels, including social media, event sponsorships, digital ads on our ATMs, monthly newsletters, and networking opportunities.  “But,” she said, “our best leads come from word of mouth and referrals from satisfied customers.”

In describing Commonwealth’s strongest influences, Ms. Holman said “we’ve always worked to be more customer-focused than our competitors.  So I guess you could say that we have learned what not to do by paying attention to the reasons our customers share for switching to Commonwealth from a competitor.”

 


Chamber of Commerce | North Central Massachusetts | North Central Massachusetts Chamber | Business Growth | Business Development | Business Technical Assistance | Business Resources | Massachusetts Business Environment | Member Spotlight | Commonwealth Consulting Group

State Expecting Elevated Tax Revenues To Hold

Source: State House News Service
Author: Colin A. Young

1.6 Percent Growth Expected, 4.1 Percent When Surtax Included

The Healey administration and legislative budget managers agreed Monday to build their upcoming state budget plans on the assumptions that they will have $40.41 billion in general state tax revenue to spend in the budget year that begins July 1 and an additional $1 billion in revenue from the state’s new high-earner surtax that can be put towards education or transportation.

The fiscal year 2024 consensus revenue agreement announced Monday would represent 1.6 percent growth over the latest estimate for fiscal year 2023 tax revenue, or 4.1 percent growth when adding the $1 billion in projected revenue from the surtax on income greater than $1 million to the equation. The surtax revenue, by law, is supposed to only be spent on education and transportation initiatives.

“The Fiscal Year 2024 consensus revenue forecast lays the groundwork for a fiscally responsible FY24 spending plan that supports core services for residents and makes meaningful and sustainable progress in addressing the varied needs and issues facing the Commonwealth,” Administration and Finance Secretary Matthew Gorzkowicz, who agreed to the growth figure with Ways and Means Committee chairs Rep. Aaron Michlewitz and Sen. Michael Rodrigues, said. “More importantly, the additional surtax revenue will allow for significant new investments in transportation and education that will make the Commonwealth more competitive, affordable, and equitable.”

Gov. Maura Healey is expected to file her first annual budget proposal by March 1. The House and Senate will redraft Healey’s spending blueprint and debate their own versions, likely in April and May. Fiscal year 2024 begins on July 1, but Massachusetts has rarely had its full-year budget in place by that date in recent years.

“I think really important and exciting news on the consensus revenue and what is an atypical year in terms of how these things are put together. So we’re really pleased to be able to announce that today,” Healey said Monday afternoon.

The governor referred back to the consensus revenue accord later in the same press conference Monday when asked about the future of Chapter 62F, the state tax revenue cap law that House lawmakers in particular have said they want to see changed.

“I don’t know what the future looks like,” she said. “I know that right now we’re really pleased to be out with the consensus revenue number. We’ll be having some discussions about upcoming budget and priorities and the like, and a lot of work to sort through in the immediate,” Healey said.

Rodrigues said the revenue accord “provides a strong foundation for the Legislature and the Healey-Driscoll administration to develop a forward looking FY24 budget plan that upholds fiscal responsibility and meets the critical needs of our communities.” Michlewitz said it “will allow the Legislature and the Healey-Driscoll administration to collectively construct a reasonable and appropriate budget for the upcoming fiscal year.”

“By basing the budget on a judicious consensus revenue figure, the Commonwealth will be able to make the necessary investments that our constituents deserve, while at the same time enhancing the state’s fiscal health,” Michlewitz said.

The $40.41 billion revenue estimate that Gorzkowicz, Michlewitz and Rodrigues agreed to Monday, a day ahead of their deadline, is largely in keeping with the testimony they heard from economic and budget experts at a hearing last week.

The Department of Revenue forecasted fiscal year 2024 state tax revenue within a range of $39.838 billion to $41.017 billion, the Mass. Taxpayers Foundation projected that fiscal year 2024 state revenues will come in at $40.06 billion, and the Center for State Policy Analysis at Tufts University estimated that fiscal year 2024 state tax revenue will land at $40.2 billion.

While the official estimate of 1.6 percent growth is well below what Beacon Hill officials have projected in each of the last at least six years, it means that state revenues are expected to stay at their significantly elevated levels.

The consensus revenue growth estimates were for 3.5 percent in fiscal 2022 and 2.7 percent in fiscal 2023, but over those two years state tax revenues actually surged more than 15 percent and more than 20 percent, respectively. The fiscal year 2024 revenue estimate of $40.41 billion is more than $10 billion above the estimate that Michlewitz, Rodrigues and the Baker administration originally agreed to for fiscal year 2022 ($30.12 billion) in January 2021.

The state budget, which totals $52.7 billion for fiscal 2023, is supplemented by substantial federal revenues along with non-tax revenues like fees. The fiscal year 2023 bottom line represented an increase of $5.1 billion or 10.7 percent over the $47.6 billion annual budget passed for fiscal 2022.

Gorzkowicz, Michlewitz and Rodrigues also confirmed Monday the amounts of money that will be transferred to various entities that have over the years secured themselves dedicated budget carve-outs. The MBTA will get $1.463 billion ($138 million more than in the current year), the Massachusetts School Building Authority will get $1.303 billion (an increase of $138 million), and $27 million will flow to the Workforce Training Fund.

There will also be a $4.105 billion transfer to the state pension fund — an increase of $361 million over the fiscal 2023 contribution — which is expected to keep Massachusetts on track to fully fund its pension liability by 2036.

Gorzkowicz also announced Monday that he was upgrading the current year’s revenue estimate by $151 million or about 0.4 percent, from $39.618 billion to $39.768 billion. The three top state budget officials said that $100 million of fiscal year 2023 revenue was earmarked Monday for use to “fully pay down” pension liabilities stemming from a 2015 early retirement incentive program that otherwise would not have been paid off until fiscal year 2027. That decision was announced as one made by “the secretary and chairs.”

Through the first half of fiscal 2023, DOR has collected $17.789 billion, which is $56 million or 0.3 percent less than what was collected to the same period of fiscal 2022, but still $1.087 billion or 6.5 percent more had been expected during that time period.

“However, a significant portion of the above-benchmark performance is due to lower than expected credits claimed by [pass-through entity] members, which we do expect to reverse in the second half of this fiscal year,” Revenue Commissioner Geoffrey Snyder said last week.

Gorzkowicz, Michlewitz and Rodrigues also agreed Monday to a 3.6 percent rate of potential gross state product growth for calendar year 2023. That figure is used to set up a health care cost growth benchmark under the 2012 cost containment law.

 


Chamber of Commerce | North Central Massachusetts | North Central Massachusetts Chamber | Massachusetts Business | Massachusetts Economy | Massachusetts Chamber of Commerce | Government Affairs | State House News Service | Economic Development

Mass. Housing Market Finished Year In Cooling Zone

Source: State House News Service
Author: Colin A. Young

Home Sales Fell Nearly 16 Percent Compared To 2021

After two years of double-digit increases in home sale prices and inventory that couldn’t keep up with demand, signs of a correction in the Massachusetts housing market were apparent in the final 2022 statistics, analysts at The Warren Group said Tuesday.

“The Massachusetts single-family market finally hit that wall we’ve all been anticipating,” Tim Warren, CEO of The Warren Group, said. “For the last few years, housing market activity has been so hot that inventory was unable to keep up — and our numbers reflect that. Add in economic uncertainties and the fact that mortgage rates are nearly double what they were a year ago, and you have the making for a cooling housing market.”

The industry watchers’ latest report paints a picture of the issues that Gov. Maura Healey’s proposed secretary of housing will have to contend with if or when that office is created. Healey declared high housing costs “unacceptable for our people, our businesses and our state’s future” in her inaugural address and said she would establish a new Cabinet secretary specific to housing within her first 100 days in office.

In 2022, there were 52,397 single-family home sales in Massachusetts — a 15.9 percent decrease compared to 2021. And at the same time, the median single-family home price increased 7.8 percent in 2022 to $550,000. Compared to the end of 2020, home sales are down 15.3 percent while the median sale price is up 23 percent.

The 3,838 single-family home sales in Massachusetts in December 2022 represented a decline of 31.7 percent from a year earlier while the median sale price of $510,000 set a new all-time high for the final month of the calendar year. Despite that, The Warren Group said, “year-over-year increases have been shrinking for the past three months.”

Tim Warren noted that home prices are still rising but that the increases are getting slimmer, “and they’re even getting close to none.” He said homes in Massachusetts cost more than buyers are willing to spend, inventory is drying up and rising mortgage rates make a purchase even more costly.

“People who were considering a home purchase have backed off, and instead of offering to purchase above the asking price, they are either on the sidelines or driving a hard bargain as bidding wars have become a thing of the past,” he said on The Warren Group’s monthly podcast. He added, “Talk of inflation and a possible recession this year have made consumers cautious and they have have curbed their enthusiasm for a new home.”

Further eroding buyers’ fervor is the talk of a looming recession and resulting job losses in 2023 as the Federal Reserve Bank appears poised to continue ratcheting up interest rates, Warren said.

“Given this scenario, I think the downward trend will continue throughout 2023 for the Massachusetts real estate market. Fewer listings will mean fewer sales and high mortgage rates will exert downward pressure on prices. Probably not all but some of the months of 2023 will see lower median price then in the same month in 2022,” he said. “In the stock market, prices declined by nearly 20 percent in 2022. We won’t see that deep correction in the local real estate market, but I expect we’ll see some price declines. And those who are confident in their jobs and their finances will find some bargains as the market slows.”

Harvard University professor Kenneth Rogoff put a number on his expectation for housing market declines in coming years, telling Bloomberg Television on Tuesday that he expects about a 10 percent drop over the next few years.

“There’s still a lot of downward adjustment in the housing markets globally, not just in the United States,” he said.

By April 15, the governor has said she will file legislation to create a standalone secretary of housing, splitting it off from the current Executive Office of Housing and Economic Development. Healey made housing a major platform of her gubernatorial campaign last year and the issue was among the first policy areas she addressed in her Jan. 5 inaugural speech.

“The cost of housing is out of control for too many because we simply don’t have enough of it,” Healey said. “If we want Massachusetts to be a home for all, we need to build more places to live and we need to make sure those homes are within reach.”

Healey’s bifurcation of the Executive Office of Housing and Economic Development is likely to happen under the authority of Article 87 of the state Constitution. Under Article 87, executive branch reorganizations require a legislative hearing within 30 days of filing, a committee vote within 10 days of the hearing, and must receive an up-or-down vote from the Legislature, without amendment, within 60 days or the action takes effect. The Legislature allowed a handful of Article 87 reorganizations to take effect without votes under the Baker administration.

 


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