Daily News

Massachusetts employers grew more confident again in April, despite an economy slowed by inflation and geopolitical uncertainty during the first quarter. 

The Associated Industries of Massachusetts Business Confidence Index (BCI) gained 0.9 points last month to 58.1. The index has now risen for three consecutive months and sits comfortably within optimistic territory. 

The increase reflected strengthening employer views about both the Massachusetts and U.S. economies, even though real GDP declined at an annual rate of 1.4% nationally and an estimated 1.0% in the state during the first quarter of 2022. 

The Central Massachusetts Business Confidence Index, conducted with the Worcester Regional Chamber of Commerce, showed Worcester County employers with a 56.9 confidence reading. The North Shore Confidence Index, conducted with the North Shore Chamber of Commerce, was 61.8.  

At the same time, tax collections in Massachusetts were $2 billion more than expected during April, pushing the state at least $3.5 billion ahead of its year-to-date benchmark with just two months left in the fiscal year. 

“Massachusetts companies remain optimistic about the sustainability of the economic expansion even amid tightening financial conditions and uncertainties related to COVID-19 and the war in Ukraine,” said Sara L. Johnson, chair of the AIM Board of Economic Advisors. “Every element of the Business Confidence Index was in optimistic territory last month, with the highest reading for employers’ views about the prospects of their own companies.” 

The AIM Index, based on a survey of more than 140 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 index reached its historic high of 68.5 on two occasions in 1997-98, and its all-time low of 33.3 in February 2009. 

The constituent indicators that make up the index were mostly higher in April. 

The Massachusetts Index assessing business conditions within the Commonwealth jumped 1.7 points to 57.3, down 3.1 points since April 2021. The US Index measuring conditions throughout the country moved into optimistic territory at 53.1, up from 49.9 in March. 

Employers are equally bullish about future business conditions and present ones. The Current Index, which assesses overall business conditions at the time of the survey, rose 1.5 points to 58.1. The Future Index, measuring projections for the economy six months from now, gained 0.3 points to 58.0. 

The confidence employers have in their own companies declined 0.2 points to 60.0, ending the month 1.6 points lower than in April 2021. 

The Manufacturing Index increased 0.7 points to 56.3 for its third consecutive monthly gain. The Manufacturing Index now stands 3.2 points less than a year ago. 

Small companies (60.0) were more optimistic than medium-sized companies (57.3) or large companies (56.7). 

Alan Clayton-Matthews, Professor Emeritus of Economics and Public Policy at Northeastern University, senior contributing editor, MassBenchmarks and a BEA member, said the state and national economies continued to create jobs during the first quarter of the year. 

“Massachusetts payroll employment in the first quarter grew at an annual rate of 5.2 percent, slightly faster than the 4.8% pace for the U.S.,” Clayton-Matthews said. 

“Between the first quarter of 2021 and the first quarter of 2022 employment increased by 5.3 percent in Massachusetts and 4.6% in the U.S. However, in March 2022, the state remained 2.4% below pre-pandemic payroll employment levels, which peaked in February 2020.” 

Daily News

SPRINGFIELDLydia Martinez-Alvarez, recently retired assistant superintendent for Springfield Public Schools, will serve as the featured speaker at Springfield Technical Community College’s 2022 commencement on June 2 at 6:30 p.m. at the MassMutual Center. 

The ceremony, which was held virtually over the past two years due to the pandemic, will take place in person for the first time since 2019. 

Martinez-Alvarez made history when she became Springfield’s first Latina assistant superintendent in 2012 and has become a role model in the community. Many of STCC’s graduates might see a little bit of themselves in Martinez-Alvarez when she steps up to the podium at the MassMutual Center. STCC is a federally designated Hispanic Serving Institution, with about 30% of the students identifying as Hispanic. 

Martinez-Alvarez served in the school system for 28 years before announcing her retirement earlier this year. She began her teaching career as a substitute and worked her way up in roles throughout the district. She served as assistant principal at the Springfield High School of Science and Technology in 2003 and a year later was named principal at Chestnut Accelerated Middle School. 

A product of the public schools, Martinez-Alvarez has strong roots in the Springfield community. Shortly after her retirement announcement in January, Springfield Mayor Domenic Sarno highlighted her achievements during his proclamation of Jan. 31 as “Lydia Martinez-Alvarez Day.”  She is a strong advocate of education. 

Born and raised in Springfield, Martinez-Alvarez served as “Madrina” of the 2016 Springfield Puerto Rican Parade. 

Martinez-Alvarez was recognized as a 2019 “Woman of Impact” by BusinessWest for her professional accomplishments and contributions to the greater Springfield community. The award was established to honor women in Western Massachusetts whose contributions have positively influenced the community. 

Martinez-Alvarez serves on the Board of Trustees for Westfield State University. She is a graduate of the Westfield State Class of ’86. 

She holds a bachelor of Science in Business Management and a Certificate of Advanced Graduate Studies from Westfield State, a Master of Arts in Teaching from Elms College, and is a doctoral candidate at American International College. 

Daily News

AMHERST — The Amherst Area Chamber of Commerce announced that Chartered Alternative Investment Analyst (CAIA) Association will stage a celebration marking its 20th anniversary and new location on May 18. 

The open house will begin at 3 p.m. with tours of the new location and opportunity to meet the CAIA team. The ribbon-cutting ceremony will take place at 4 p.m. Refreshments and hors d’oeuvres will be served. To assist with planning, RSVP’s are encouraged. Please email: [email protected] 

In acknowledgment of the move, Ruth Carolyn, chief operating officer for the CAIA Association said that the new location is the perfect fit for the organization today. “As we celebrate our 20th year as an association, we are delighted to be back in the center of Amherst, where our mission took flight in 2002. It is exciting for us to occupy such a beautiful space in the center of a town, so well-known for its support of community. We will be very proud to welcome members and staff from around the globe to our new headquarters’ location.” 

The CAIA Association is a global professional body dedicated to creating greater alignment, transparency, and knowledge for all investors, with a specific emphasis on alternative investments. 

“As a chamber, we are honored to celebrate CAIA’s mission and their new move to downtown Amherst along with their 20-year commitment to their roots in Amherst while expanding globally across 100 countries,” said Claudia Pazmany, executive director of the Amherst Area Chamber of Commerce. “This is a true example of living locally and thinking globally.”  

Daily News

BOSTON — The State Senate recently passed An Act Relative to Work and Family Mobility with a 32-8 vote. The bill would allow Massachusetts residents who lack federal immigration status to apply for a Massachusetts standard driver’s license, the non-REAL ID license.  

“I’m proud that the Senate today passed this long overdue bill to advance justice and provide economic, health, and safety benefits to the Commonwealth,” said Sen. Jo Comerford (D – Northampton). “This bill recognizes the importance of our undocumented immigrant neighbors to our economy and community and states proudly that they deserve safety and dignity. I’m grateful to the many advocates and organizers who have fought for years to make this bill a reality, and to Senator Crighton, Senate President Spilka, and Senate colleagues for legislative leadership on this issue.” 

The bill has received widespread support from members of the law enforcement community, advocacy groups, and members of the immigrant community. It proposes strict identity documentation criteria, asking for applicants to present two valid, unexpired identity documents. It makes no change to existing law requiring that all driver’s license applicants prove that they live in the Commonwealth.  

The legislation also includes layered protection for driver information, prohibiting the Massachusetts RMV from keeping records of citizenship or immigration status for standard license holders and applicants. Safeguards are also put in place for voting, above and beyond the existing protections, directing the Registry of Motor Vehicles and Secretary of State to establish procedures to ensure that drivers without lawful immigration status are not erroneously registered to vote. 

The bill passed today is nearly identical to the version that passed the House of Representatives earlier this year with a 120-36 vote. The minor differences between the House and Senate versions of the bill will need to be reconciled before the bill is sent to the Governor.  

Daily News

SPRINGFIELD — Western New England University (WNE)  announce that on May 21,professional mixed martial artist (MMA) Nick Newell will give the keynote address at the 2022 Undergraduate Commencement ceremony. On May 22, Sheila Barcohana Hollender, a leading authority on women’s issues, environmental health, and sustainability, will provide the keynote address at the 2022 Graduate Commencement ceremony. 

University President Dr. Robert E. Johnson will present both Newell and Hollender the Western New England University President’s Medallion at the ceremonies, which will be held at 2 p.m. in the Caprio Alumni Healthful Living Center on the University Campus. Established in 2002, the President’s Medallion Award is bestowed upon those who have distinguished themselves in a particular field or in service to an important cause that has benefited society locally, regionally, nationally or internationally. The President’s Medallion also recognizes men and women in a variety of fields who are role models worthy of emulation by all, particularly by our students at Western New England University. 

From an early age, Newell accepted the fact that he was born without a left hand and part of his left arm. What he did not accept was a life with limits. He tried many sports growing up, including soccer, baseball, and basketball, and was successful in all of them. But what truly interested Newell was the martial arts. His foray into combat sports was high school wrestling, competing in the 103-pound weight class, where he lost his first 17 bouts. He finished his freshman campaign 2-22. At that point, most people would have quit. 

Newell isn’t most people, though, and his sophomore year record was 24-12. In his senior year, he made All-State, and he wrestled for four years at Western New England University, winning matches in six different weight classes and being named team captain twice. 

He earned a bachelor of Arts in Communication at WNE in 2008 and worked as a master control operator for the History Channel while training day in and day out for his goal of fighting in mixed martial arts. Newell made his debut in 2009 and eventually left his day job to become a professional MMA fighter. After starting his career 11-0, he has amassed a Now a professional MMA fighter, he has a 16-4 career MMA record, with 10 of his wins occurring in the first round. He’s also the owner and head coach of Fighting Arts Academy (FAA) in Milford, CT. 

Newell’s story is now the subject of a movie, Notorious Nick, released by Lionsgate in 2021, which details his hard-fought journey and achievements as a one-handed fighter. 

To say Sheila Barcohana Hollender has forged an influential path in the women’s environmental health movement would be an understatement. Following a career as a partner in a New York law firm, she cofounded Seventh Generation, which sells eco-friendly cleaning, paper, and personal care products, with her husband, Jeffrey Hollender. She worked as the director of Giving for Seventh Generation, as well as serving as the company’s women’s environmental health advocate, and helped to innovate and launch its feminine care line of products. Unilever acquired Seventh Generation in 2016. 

Along with her husband and daughter, Hollender also cofounded Hollender Sustainable Brands (originally Sustain Natural), a company that developed and marketed Sustain Condoms, the first U.S. brand of condoms certified to be fair-trade, free of chemicals of concern, and sustainably produced. Not only did Sustain integrate social and environmental sustainability into each aspect of the business, but the company also partnered with non-profit organizations to increase awareness of safe sex and women’s reproductive health. Sustain donated 10% of its profits to women’s healthcare organizations. The company was acquired by Grove Collaborative in 2019. 

Hollender’s focus on the empowerment of women and girls worldwide has led her to work with organizations that provide women and girls with feminine care products, as well as educate them on the use of condoms to limit their exposure to HIV and STDs and to allow them to make their own decisions related to family planning. She feels that these topics are the most basic tools of empowerment. 

She serves on the board of the Stephen Petronio Dance Company. She previously served on the boards of the Breast Cancer Fund and Sustainable Health Enterprises, and the Board of Advisors of Healthy Child Healthy World. 

Business Talk Podcast Special Coverage

We are excited to announce that BusinessWest, in partnership with Living Local, has launched a new podcast series, BusinessTalk. Each episode will feature in-depth interviews and discussions with local industry leaders, providing thoughtful perspectives on the Western Massachuetts economy and the many business ventures that keep it running during these challenging times.

Go HERE to view all episodes

Episode 111: May 9, 2022

Editor George O’Brien talks with U.S. Rep. Richard Neal about the prospects for momentum on east-west rail in the Commonwealth

Editor George O’Brien talks with U.S. Rep. Richard Neal about the prospects for momentum on east-west rail in the Commonwealth. The congressman believes the stars are aligned on this matter, and explains why Gov. Charlie Baker’s endorsement of the project is just another of many pieces now falling into place. It’s all must listening, so join us on BusinessTalk, a podcast presented by BusinessWest in partnership with Living Local and sponsored by PeoplesBank.

 

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