Daily News

BOSTON — Business confidence strengthened in Massachusetts last month amid signs that the state and national economies are more resilient than many experts predicted.

The Associated Industries of Massachusetts (AIM) Business Confidence Index rose 2 points to 60.9 last month, leaving it virtually even with its level of a year ago.

The October upswing was led by growing employer optimism in the Massachusetts and national economies, as well as brightening prospects for manufacturers.

The survey results came during a month when U.S. employers added a stronger-than-expected 128,000 jobs. And while the Massachusetts economy contracted slightly during the third quarter, experts say the reversal reflects workforce capacity limits rather than an economic downturn.

“U.S. hiring was unexpectedly resilient in October, and prior months saw upward revisions. It appears that consumers will extend the record-long expansion despite trade tensions and weak business investment,” said Raymond Torto, chair of AIM’s Board of Economic Advisors (BEA).

The AIM Index, based on a survey of more than 100 Massachusetts employers, has appeared monthly since July 1991. It is calculated on a 100-point scale, with 50 as neutral; a reading above 50 is positive, while below 50 is negative.

The constituent indicators that make up the Business Confidence Index all moved higher during October. The Massachusetts Index assessing business conditions within the Commonwealth surged 4.5 points to 67.8, while the U.S. Index rose 3.1 points to 59.6. The increase left the Massachusetts reading 3 points higher than a year ago; the U.S. index has dropped by 2 points during the past 12 months.

The Future Index, measuring expectations for six months out, gained 2.2 points to 58.6, virtually even with its reading from October 2018. The Current Index, which assesses overall business conditions at the time of the survey, increased 2.0 points to 63.3, also matching its reading of a year ago.

The Employment Index rose 0.3 points for the month but remained down 2.5 points for the year, underscoring the capacity issues faced by employers struggling to find qualified workers in a full-employment state economy.

Non-manufacturers (63.4) were more confident than manufacturers (59.0), despite a strong October gain in optimism among industrial companies. Small companies (63.6) were more optimistic than medium-sized companies (60.6) or large companies (59.6). Companies in Eastern Mass. (61.2) remained more optimistic than those in Western Mass. (60.4).

Paul Bolger, president of Massachusetts Capital Resource Co. and a BEA member, said employers appear to have concluded that the slowing economy remains fundamentally strong enough to make a recession unlikely in the near future.

“Companies are also hoping that a preliminary trade agreement between China and the United States will clear up some of the uncertainty that has been causes by tariffs and an escalating trade battle,” he added.

AIM President and CEO John Regan, also a BEA member, said the persistent shortage of skilled workers constraining the Massachusetts economy underscores the need for the Legislature to pass an education-funding bill that establishes accountability for school districts to prepare students for both college and the workforce.

“The job of sustaining Massachusetts’ global leadership in innovation belongs to everyone, and that requires a thoughtful, long-range plan to maintain our competitive advantage, including our education system. The foundation of such a plan is a set of educational standards that ensure our students’ continued achievement via distinct criteria,” Regan said. “Whether Massachusetts high-school graduates choose a college track or enter the workforce directly upon graduation, we must remain vigilant and insist on relevant, high standards to provide all our students with equal access to the economic advantages that follow educational achievement.”

Daily News

WILBRAHAM — Colony Hills Capital (CHC), based in Wilbraham, announced it recently purchased Windfield Senior Estates and Windfield Family Estates, a combined 160-unit multi-family apartment community located in nearby Hadley. It was purchased for $14,035,000 on Oct. 23.

Built in 2002, the property consists of 80 independent senior apartments and 80  family apartments. The property was originally developed and financed using the LIHTC (Low Income Housing Tax Credit) program and currently has income and rent restrictions on 80% of the units. The community is located just off Route 9 in close proximity to UMass Amherst. It is also within a mile of top retailers such as Whole Foods, Target, Walmart, Trader Joe’s, LL Bean, and numerous restaurants and entertainment venues. Windfields also offers direct access to the Norwottuck Branch Rail Trail, part of the 104-mile Mass Central Rail Trail system.

Colony Hills Capital is rolling out a capital-improvement plan that includes upgrades and remodeling to interior resident common areas, hallways, and office areas,  as well as adding exterior amenities including a dog park; additional sitting, picnic, and garden areas; and grilling stations. There will also be a complete repaving of parking areas and interior roadways. Additionally, the company plans to make the community more energy-efficient, bike friendly, and environmentally conscious.

“We are proud to own our first affordable-housing community, and appreciate the role MassHousing and Community Development played in transitioning the community from the original developers to us,” said Glenn Hanson, founder and CEO of Colony Hills Capital. “Acquiring a property previously financed by LITHC is challenging to master but rewarding to execute, and MassHousing was instrumental in our successful effort. And now our team on the ground is making a difference to our residents every day. We are also grateful to our investors who helped make our first affordable-housing investment a reality.”

Colony Hills Capital is a multi-family real-estate investment company that targets workforce, value-add investment opportunities located  primarily in secondary markets in the Southeastern U.S. Since its inception in 2008, Colony and its affiliates have acquired more than 8,800 apartment in seven states.

Daily News

SPRINGFIELD — On Tuesday, Nov. 19, Bulkley Richardson and Millbrook Benefits will collaborate on a panel to discuss next steps in preparing for Massachusetts Paid Family and Medical Leave.

Mary Jo Kennedy, chair of the Employment Group at Bulkley Richardson, and Peter Miller, managing partner at Millbrook Benefits and Insurance, will discuss how current leave programs fit with PFML benefits, the pros and cons of private plans, applying for an exemption to PFML benefits, and training management on how to avoid legal liability related to new PFML claims.

The event will take place from 8:30 to 9:30 a.m. at Bulkley Richardson’s office at 1500 Main St., Springfield. Register to attend at [email protected].

Daily News

SPRINGFIELD — The Massachusetts Council on Compulsive Gambling announced the appointment of Dawn Forbes DiStefano to its board of directors.

“Dawn is an extraordinarily talented woman who values community engagement and involvement,” said Marlene Warner, executive director of the council. “Dawn brings a wealth of knowledge on nonprofit development to the board. We’re very fortunate to have her at the table as we work to serve those experiencing problems with gambling and their loved ones, especially in Western Massachusetts.”

DiStefano is the executive vice president at Square One, where she manages contracts and annual budgeting of $9 million. Square One is a private, nonprofit organization that provides early education and care to 500 children each day, as well as a range of family-support services to 1,500 families each year.

Founded in 1983, the Mass Council on Compulsive Gambling has been instrumental in bringing the issue of gambling disorder to the attention of the public and policymakers. With the gambling landscape evolving and expanding, the council has continued to play a leading role in protecting and educating the public.

“Advocating for the community and for families, and working to ensure resources are there for those who need it most, have always been important to me,” DiStefano said. “Joining the board of the Mass Council is a natural fit. I’m excited about the opportunity to help residents in the Commonwealth.”

DiStefano received her master’s degree in public administration and nonprofit management from Westfield State University. She serves on several boards, including Dress for Success of Western Massachusetts, the Springfield Regional Chamber, and Baystate Community Relations at Westover Job Corps. In addition, she chairs the Hampden County Commission on the Status of Women and Girls.