Construction to Begin at Paramount, Massasoit House Hotel

SPRINGFIELD — Saying he is “bullish” on downtown Springfield, Gov. Charlie Baker was among a group of local and state officials who gathered recently to ceremonially break ground on a $38 million restoration of the Paramount Theater and Massasoit House Hotel. The project will transform the Paramount, which opened 90 years ago as a vaudeville theater, into a performing-arts center, while the adjoining Massasoit building will become an 85-room boutique hotel. The property was purchased in 2011 by the New England Farm Workers Council. The 85-room hotel is expected to be completed by December 2020, with the theater expected to finish a year after that. Main Street Hospitality — whose properties include the Red Lion Inn in Stockbridge, Hotel on North in Pittsfield, and the Porches Inn at MASS MoCA in North Adams — will manage the new Massasoit House Hotel. Main Street CEO Sarah Eustis has been looking to enter the Springfield market for a few years. Project funding involves roughly $20 million from state and federal historic tax credits and a federal opportunity-zone tax credit. The project will also reap $3.8 million in HUD Section 108 loan funds through the city and the federal government, a $2 million state grant, and private funding.

Employer Confidence Stabilizes in June

BOSTON — Employer confidence stabilized in Massachusetts during June despite a continued swirl of conflicting economic and political signals around the globe. The Associated Industries of Massachusetts (AIM) Business Confidence Index rose 0.5 points to 57.6 last month, rebounding from a May drop that left it at its lowest level since October 2016. The Index has declined 3.7 points since June 2018 but remains within optimistic territory. And though confidence levels are virtually unchanged since January, the AIM Index reflects constantly changing headlines about international trade, economic growth, and the direction of interest rates. The Massachusetts Index assessing business conditions within the Commonwealth rose 0.3 points to 61.2, while the U.S. Index rose 3 points to 58.0. The Massachusetts reading has declined 1.6 points during the past 12 months, and the U.S. reading has dropped 2.0 points during the same period. The Future Index, measuring expectations for six months out, rose 0.2 points to 56.2. The Current Index, which assesses overall business conditions at the time of the survey, gained 0.8 points to 59.0, 4.5 points lower than a year ago. The Employment Index declined 0.4 points for the month and 2.2 percent for 12 months. Analysts say employers continue to struggle to find qualified workers in a state economy with a 2.9% jobless rate.

SBA Awards $100,000 for Veteran-owned Small-business Growth Training Program

WASHINGTON, D.C. — The U.S. Small Business Administration (SBA) announced a partnership with the Veteran Entrepreneurial Training and Resource Network (VETRN) to establish a pilot training program for military veterans who are small-business owners and their immediate family members. The program will equip these entrepreneurs with the resources and networks necessary to grow their small businesses. Starting in September, this 26-week program based in Portsmouth, N.H. will feature 13 weeks of Saturday-morning classroom sessions with 12 to 20 participants, as well as 13 weeks of peer-to-peer mentoring sessions. The course curriculum will include strategic planning, financial management, cash-flow forecasting, marketing the small business, sales methods, human resources, developing a growth plan, access to capital, legal issues, and government contracting. Applicants must be a current business owner with at least one year of operation and one employee (not including the owner), and annual revenues of $75,000 or more.  Also required is the passion, dedication, and commitment to grow the small business. Veteran business owners interested in finding out more information or applying for the September 2019 program can visit vetrn.org to complete an application, or e-mail [email protected].

Massachusetts Credit Unions Unite to Support ‘A Bed for Every Child’

MARLBOROUGH — Ronald McLean, president and CEO of the Cooperative Credit Union Assoc. Inc. (CCUA), on behalf of Massachusetts credit unions, along with members of the Massachusetts Credit Unions Social Responsibility Committee, presented a check for $202,725 to the Massachusetts Coalition for the Homeless at the third Annual Stephen D. Jones Credit Union Charity Golf Tournament in support of the “A Bed for Every Child” campaign. Massachusetts credit unions have supported the coalition for more than two decades, surpassing more than $2 million in donations and providing blankets, toys, and books to help families in need. In 2018, Massachusetts credit unions raised $202,725 through efforts including the Stephen D. Jones Charity Golf Tournament and a variety of credit-union-driven initiatives. The need for “A Bed for Every Child” reaches all cities and towns in Massachusetts. “A Bed for Every Child” began when a concerned inner-city public-school teacher reached out to the Massachusetts Coalition for the Homeless. At the time, the teacher was seeing an increase in the number of students who did not have a bed of their own. Robyn Frost, executive director of the Massachusetts Coalition for the Homeless, said demand continues to outpace the coalition’s capacity.

Massachusetts Unemployment Falls Below 3% in April

BOSTON — The state’s total unemployment rate for April was down one-tenth of a percentage point at 2.9%, the Executive Office of Labor and Workforce Development announced. The Bureau of Labor Statistics’ (BLS) preliminary job estimates indicate Massachusetts added 4,100 jobs in April. Over the month, the private sector added 4,000 jobs as gains occurred in construction; professional, scientific, and business services; education and health services; financial activities; information; and other services. Trade, transportation, and utilities; manufacturing; and leisure and hospitality lost jobs over the month. From April 2018 to April 2019, BLS estimates Massachusetts added 37,100 jobs. The April unemployment rate was 0.7% lower than the national rate of 3.6% reported by the Bureau of Labor Statistics. “Preliminary estimates indicate that, in April, the Massachusetts unemployment rate fell below 3% for the first time since December of 2000,” said Labor and Workforce Development Secretary Rosalin Acosta. “Year to date, the Commonwealth’s economy has added 25,400 jobs, showing that, even with a low, 2.9% unemployment rate, Massachusetts employers continue to add jobs to help fuel their growth needs.” The labor force decreased by 3,200 from 3,843,500 in March, as 1,600 fewer residents were employed and 1,600 fewer residents were unemployed over the month. Over the year, the state’s seasonally adjusted unemployment rate dropped six-tenths of a percentage point. The state’s labor-force participation rate — the total number of residents 16 or older who worked or were unemployed and actively sought work in the last four weeks — decreased one-tenth of a percentage point to 67.8%. Compared to April 2018, the labor-force participation rate is up 0.4%. The largest private-sector percentage job gains over the year were in professional, scientific, and business services; information; construction; and education and health services.

Manning Family Gift Will Advance Innovative Research at UMass

AMHERST — UMass Amherst alumnus Paul Manning and his wife, Diane Manning, have committed $1 million through their family foundation to establish the Manning Innovation Program, which provides three years of support in advancing a robust and sustainable pipeline of applied and translational research projects from UMass Amherst. It will allow the university’s College of Natural Sciences (CNS) to support bold, promising researchers, providing resources for them to innovate in new directions and to develop real-world applications for their discoveries. The initiative will provide assistance to researchers and business students across campus through the critical early stages on the path to commercialization, such as ideation, proof of concept, and business development. Faculty will receive seed funding and engage in business training and mentorship from a number of campus units, including the Institute for Applied Life Sciences, the College of Natural Sciences, the Berthiaume Center for Entrepreneurship, and the Isenberg School of Management. The first grant to be awarded from the Manning Innovation Program will support research on a topic that hits close to home for the Manning family, Stargardt disease. Both of the Mannings’ sons, Bradford and Bryan, have the disease, which causes loss of central vision. Currently, there is no treatment to delay or cure the disease. The two Manning brothers now run a clothing line called Two Blind Brothers, and they donate all of its proceeds directly to blindness research. Abigail Jensen, associate professor of Biology, will use a $40,000 grant to support her research on Stargardt disease and possible therapies using zebrafish. Her research seeks to identify how the disease works on a molecular level. Development of zebrafish with therapeutic mutations subverting Stargardt disease at the genetic level provides the first opportunity to discover the molecular mechanism of cone-photoreceptor degeneration and potential pathways for translation of research to therapeutic applications. In keeping with the university’s core values, the Manning Innovation Program will stimulate, recognize, and reward innovation. It will foster a culture of entrepreneurship in the college and enhance the spirit of collaboration among Isenberg School of Management advisors, science and technology researchers, and industry experts. Further, the Manning Foundation’s gift provides vital investment to support UMass as a partner of choice in advancing and applying knowledge and innovation for the betterment of society. The next wave in the application process for the Manning Innovation Program will result in a new round of applications being submitted by July 15. The review committee will notify recipients at the end of August, and the next round of projects could begin in September. Paul Manning, an entrepreneur with 30 years of experience in the healthcare industry, most recently founded PBM Capital Group in 2010. PBM Capital is a healthcare-focused private investment group that looks for opportunities to use its entrepreneurial and operational experience to make high-growth pharmaceutical, molecular-diagnostic, gene-therapy, life-science, health and wellness, and consumer product investments. He was the anchor investor in Maroon Venture Partners, the first venture-capital fund at UMass Amherst. Created in 2017, the fund is a $6 million, for-profit investment vehicle created to support alumni, faculty, and student businesses in their early stages.

Communities Receive $647,000 for Middle-school Exploration Programs

BOSTON — American Student Assistance (ASA), a national nonprofit, announced it has awarded grants totaling $647,000 to seven Massachusetts school districts, including two in Western Mass., to fund career and interest exploration programs for middle-school students. The school communities, which will receive their funding over the course of three years, will begin implementing the programs in the 2019-20 school year. In Western Mass., Monson Public Schools will launch the Careers in the Middle program, providing students in grades 6 to 8 with classroom lessons, field trips, and events that will expose them to career-awareness opportunities. “Monson is thrilled to be chosen by ASA to partner to provide additional resources that focus on our middle grades,” said Robert Bardwell, director of School Counseling and School-to-Career coordinator. “This grant will give us the opportunity to do more for our middle-level students and collect data that tells us which activities are best to facilitate and encourage career development early on.” Meanwhile, Springfield STEM Academy will enhance and expand the Tech/Engineering Exploration program to expose students to new fields such as bioengineering, solar and wind engineering, electrical engineering, and mechanical engineering. “Exposing students to biological, solar, wind, electrical, and mechanical engineering at a young age is a potential game changer for their rest of their lives,” Superintendent Daniel Warwick said. “It allows them to think about the wide array of STEM careers in real ways and opens the door to unlimited possibilities in this burgeoning field. We are extremely grateful that this ASA grant will help us provide this opportunity for our students.”

Employer Confidence in Massachusetts Falls in May

BOSTON — Employer confidence weakened in Massachusetts during May amid renewed trade tensions and concerns among companies about increased operating costs from paid family leave and other government mandates. The outlook among business leaders has moved in a narrow, overall optimistic range for much of 2019. However, the Associated Industries of Massachusetts (AIM) Business Confidence Index lost 3.2 points last month to 57.1, its lowest level since October 2016. The Index has declined 9.5 points since May 2018. All the constituent indicators that make up the BCI weakened during May, with the largest drop coming in employer views of conditions six months from now. The erosion of confidence during the past 12 months has been driven largely by caution about the national economy and concern among manufacturing companies. “The Business Confidence Index continues to reflect the Goldilocks economy in which we find ourselves — U.S. GDP growth is expected to remain at a modest level of 2% to 3%, and there is not much inflation or deflation. There are both encouraging signs and red flags,” said Raymond Torto, chair of AIM’s Board of Economic Advisors (BEA) and lecturer at Harvard Graduate School of Design. Several employers participating in the survey said regulatory costs have become a significant concern. “The cost to operate has increased dramatically — higher wages, benefit costs, supply costs, and cost of compliance with all the new regulations coming out of the State House,” one employer wrote. Constituent indicators showed a broad-based retrenchment during May. The Massachusetts Index assessing business conditions within the commonwealth fell 2.3 points to 60.9, while the U.S. Index shed 3.3 points to 55.0. The Massachusetts reading has declined 9.1 points during the past 12 months, and the U.S. reading has dropped 14.3 points during the same period. The Future Index, measuring expectations for six months out, tumbled 4.5 points to 56.0. The Current Index, which assesses overall business conditions at the time of the survey, lost 1.8 points to 58.2, 8.4 points lower than a year ago. The Employment Index declined 1.2 points for the month and 5.1 percent for 12 months. Analysts say employers continue to struggle to find qualified workers in a state economy with a 2.9% jobless rate. AIM President and CEO John Regan, also a BEA member, said the national economic uncertainty comes at a time when Massachusetts employers are struggling with a series of expensive new employment-law mandates such as the state’s $1 billion paid family and medical leave program. “AIM has joined Raise Up Massachusetts and other groups in asking the Baker administration to delay the scheduled July 1 start of paid leave by three months to provide employers time to consider how much of the cost they will share with workers and whether they wish to opt out of the state system,” Regan said. “The delay is necessary to ensure a smooth rollout of this new entitlement.”

Opioid-overdose Death Rate Falls 4% in Massachusetts

BOSTON — The opioid-related overdose death rate in Massachusetts continues to decline, falling an estimated 4% between 2016 and 2018, according to updated figures rin the latest quarterly opioid-related overdose deaths report by the Massachusetts Department of Public Health. For the first three months of 2019, preliminary data shows 497 confirmed and estimated opioid-related overdose deaths. The decline in opioid-related overdose deaths is occurring despite the persistent presence of the deadly synthetic opioid fentanyl. In 2018, fentanyl was present in the toxicology of 89% of those who died of an opioid-related overdose and had a toxicology screen. The presence of some stimulants, such as cocaine and amphetamines, has also been increasing in opioid-related overdose deaths since 2017, while the presence of heroin or likely heroin in opioid-related overdose deaths has been declining since 2014. “While we remain encouraged that opioid-related overdose deaths have declined over the last two years, the epidemic continues to present very real challenges across Massachusetts that are made worse by the presence of fentanyl, cocaine, and amphetamines,” said Gov. Charlie Baker. “We look forward to working with our colleagues in the Legislature to provide the $266 million we proposed in our budget to support prevention, intervention, treatment, and recovery services in addition to $5 million for a new Regional Fentanyl Interdiction Task Force.” In 2018, the total number of confirmed and estimated opioid-related overdose deaths was 2,033. That’s 17 fewer deaths than the 2,050 confirmed and estimated in 2017. By comparison, there were 2,100 confirmed opioid-related overdose deaths in 2016. “The inroads we are making are also the result of our relentless focus on using data to drive our decision making around programs and policies,” said Health and Human Services Secretary Marylou Sudders. “We continue to focus our efforts on multiple strategies that are proven effective.”

Massachusetts Health Officials Report Second Case of Measles

BOSTON — The Massachusetts Department of Public Health (DPH) confirmed that a case of measles was diagnosed in a child in Greater Boston on May 24. During the infectious period, the child was present in a number of locations in Quincy and Weymouth that could have resulted in exposure to other people. This second case of measles this year in Massachusetts has occurred in the context of a large national outbreak of measles and a very large international outbreak. “Lack of vaccination, combined with domestic and international travel, has resulted in the spread of measles nationally and internationally,” said Public Health Commissioner Dr. Monica Bharel. “Getting vaccinated is the best way for people to protect themselves from this disease.” DPH urges all those who do not know their measles immunization status to get vaccinated with at least one dose of the measles, mumps, and rubella (MMR) vaccine. Measles vaccine given within 72 hours of exposure may prevent measles disease, and vaccination beyond this window will provide protection from subsequent exposures. DPH, local health departments, and healthcare providers are working to contact individuals at high risk for exposure. Early symptoms of measles occur 10 days to two weeks after exposure and may resemble a cold (with fever, cough, runny nose, and red eyes), and a rash occurs on the skin two to four days after the initial symptoms develop. The rash usually appears first on the head and then moves downward. The rash typically lasts a few days and then disappears in the same order. People with measles may be contagious up to four days before the rash appears and for four days after the day the rash appears. People who have had measles, or who have been vaccinated against measles per U.S. Centers for Disease Control (CDC) recommendations, are considered immune.

U.S. Department of Commerce Invests in Growth of Ludlow’s Manufacturing Sector

LUDLOW — U.S. Secretary of Commerce Wilbur Ross announced that the department’s Economic Development Administration (EDA) is investing $3.1 million in the town of Ludlow to help support of the growth of local manufacturing by improving Riverside Drive. The project, to be matched with $3.1 million in local funds, is located in a Tax Cuts and Jobs Act-designated Opportunity Zone and is expected to create more than 950 jobs and generate more than $90.6 million in private investment. “Improving Riverside Drive will support the needs of larger commercial and industrial users, which require reliable water and sanitary sewer systems, as well as electric and communication services, to be competitive in the regional and global economy,” Ross said. “The Tax Cuts and Jobs Act Opportunity Zone designation will further incentives businesses to invest in the area and develop the local economy.” U.S. Rep. Richard Neal noted that the investment will bring the Riverside Drive project at Ludlow Mills one step closer to completion. “I have visited the site many times and know how important this federal investment is to the town of Ludlow. The transformation of the former mill on the Chicopee River has been impressive, and I am pleased to have been an enthusiastic supporter of this business and housing venture from the start.” The Riverside Drive improvement project will include construction of approximately 4,500 feet of public roadway, including water and sewer lines and underground utilities, to provide safe and adequate access to new manufacturing space within Ludlow’s industrial area. This project was made possible by the regional planning efforts led by the Pioneer Valley Planning Commission (PVPC). EDA funds the PVPC to bring together the public and private sectors to create an economic -development road map to strengthen the regional economy, support private capital investment, and create jobs.