Briefcase

DevelopSpringfield Touts Rebuild Springfield Work
SPRINGFIELD — DevelopSpringfield hosted an event on May 29 to mark the two-year anniversary of the Rebuild Springfield Plan release and to commemorate the third anniversary of the June 1, 2011 tornado. City officials, volunteers, contributors, residents, and other stakeholders gathered on Central Street to hear remarks highlighting Rebuild Springfield Plan progress. Attendees were provided an opportunity to tour newly rebuilt homes in the severely tornado-damaged Central Street corridor. The Rebuild Springfield Plan is a city-wide master plan designed to provide a framework for addressing the redevelopment needs of neighborhoods impacted by the June 2011 tornado. Additionally, the plan serves as a guide for addressing a wide range of issues relevant to the city as a whole. DevelopSpringfield, in partnership with the Springfield Redevelopment Authority, facilitated the planning process, which included the input of city residents and stakeholders and was published in the spring of 2012. The recent gathering featured remarks by Springfield Mayor Domenic Sarno; Jay Minkarah, president and CEO of DevelopSpringfield; Nick Fyntrilakis, DevelopSpringfield board chair and vice president of Community Responsibility for MassMutual Financial Group; Bishop Bruce Shaw, pastor of New Hope Pentecostal Church; Melvin Edwards, city councilor and Maple High/Six Corners Neighborhood Council president; Tim Allen, city councilor; Steven Bradley, DevelopSpringfield board member and vice president of Government and Community Relations and Public Relations for Baystate Health; Jose Claudio, DevelopSpringfield board member and director of Community Development for the New North Citizens’ Council and speaking on behalf of the North End Housing Initiative; and Alberto Ayala, speaking on behalf of VIVA Development. All of the speakers played a role in planning and rebuilding efforts in the city. They noted that the new homes and cleanup in the Central Street corridor are clear signs of rebirth in that neighborhood, with construction of the new Elias Brookings School in the background. With the assistance of federal, state, and city investment, progress is being made on several other key projects, including plans for construction of a New South End Community Center at Mason Wight Park. Trees have been planted, parks rehabilitated, and the Dryden Memorial School rehabilitated, among many other signs of physical improvements since the tornado. Beyond the response to the challenges brought on by the tornado, the plan also provides a framework to advance other important community priorities throughout the city. Progress on these fronts is also evident in many ways, including work in addressing educational and workforce-training priorities; efforts to highlight cultural assets, including the designation of the Springfield Central Cultural District downtown; enhanced public safety programs; and cohesive and collaborative economic-development initiatives to attract business and permanent jobs to the city. The full plan is available at www.developspringfield.com. DevelopSpringfield also announced the publication of the Rebuild Springfield Progress Report 2014. Developed in collaboration with many volunteers who participated in the Rebuild Springfield planning process, the report highlights many of the plan’s priorities. It is available online at www.developspringfield.com and in print at DevelopSpringfield offices at 1182 Main St. in Springfield, and was distributed in the Republican on June 5. A Spanish-language version will be available soon and distributed throughout the community and also online.

Construction Spending Rises Modestly in April
WASHINGTON, D.C. — Total construction spending rose modestly for the third straight month in April as a mix of increases and declines in public and private categories showed the sector’s recovery remains fragile and fragmented, according to an analysis of new Census Bureau data by the Associated General Contractors of America (AGC). Association officials said the industry could benefit from new federal investments in infrastructure to offset declining public-sector demand. “Residential, private non-residential, and public construction spending all have areas of strength but also pockets of weakness,” said Ken Simonson, the association’s chief economist. “While the overall trend remains more positive than last year, growth is likely to be spotty for the foreseeable future.” Construction put in place totaled $954 billion in April, 0.2% above the revised February total and 8.6% higher than in April 2013. The year-over-year growth so far in 2014 has exceeded the full-year increase of 5% recorded from 2012 to 2013. Private residential construction spending inched up 0.1% in April to a six-year high. The latest total exceeded the year-ago level by 17%. Single-family construction rose 1.3% in April and 14% year-over-year. Multi-family spending soared 4.4% and 31%, respectively. Improvements to existing single- and multi-family structures slumped 2.2% for the month but increased 17% from a year ago. Private non-residential spending dipped 0.1% in April but climbed 5.6% over 12 months. Most major categories increased from year-ago levels. However, the largest private segment, power construction — comprising work on oil and gas fields and pipelines as well as electricity projects — slipped 0.6% for the month and 3.9% over the year. The fastest-growing private type was office construction, which jumped 3.1% in April and 26% since April 2013. Public construction spending rose 0.8% for the month and 1.2% year-over-year. The largest public segment, highway and street construction, declined 1.1% in April but increased 4.9% from a year before. The second-biggest category, educational construction, gained 3% and 4.9%, respectively. “The outlook for the rest of 2014 remains uneven,” Simonson predicted. “Demand for apartments appears to be very strong, but there are several warning signs about home building. Despite dropping last month, power and manufacturing construction should remain the leading private non-residential categories, with hefty growth for the year as a whole. The rebound in public construction that occurred last month may not be repeated soon.”

<strong>State Seeks $100 Million for Gateway Cities
BOSTON — Gov. Deval Patrick is asking the Legislature to approve a bill that would make $100 million available to the state’s 26 so-called Gateway Cities, including Springfield, Holyoke, Chicopee, Westfield, and Pittsfield, for a host of economic development initiatives. Included in the bill are provisions for: $15 million for commercial development projects; $10 million in grants and loans to clean up contaminated industrial sites; $5 million for loans for small businesses; $25 million in annual tax credits for companies that commit to adding jobs; and $20 million for ‘middle-skills’ job training in manufacturing and information technology. “We are trying to make sure every resident — and not just residents of Boston — have access to economic opportunities,” said Alex Zaroulis, a spokeswoman for Patrick’s office of Administration and Finance. However, some legislators said the proposed spending was not enough to make a real difference in the struggling cities. “The level of funding proposed by the governor is simply insufficient,” said Rep. Antonio Cabral, a New Bedford Democrat. “The surest way to undermine faith in the Commonwealth’s programs is to fund them at a level that we know won’t solve the problem.”

April Trade Gap Widens to $47.2 Billion
WASHINGTON, D.C. — The U.S. trade deficit jumped to a two-year high in April, as exports declined and imports surged to a record high. The deficit rose to $47.2 billion in April, up 6.9% from an upwardly revised March deficit of $44.2 million, the Commerce Department announced this week. Exports dropped for the fourth month out of the past five, falling 0.2% to $195.4 billion. Meanwhile, imports climbed 1.2% to a record high of $240.6 billion.