Economy

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Re-Opening Plan an Encouraging First Step

Budget, Tax, & Finance Economy News | May 18, 2020

Associated Industries of Massachusetts said today that Governor Charlie Baker’s four-phase plan marks an encouraging first step to re-opening state economy in a safe and efficient manner. The first phase of the four-stage re-opening plan will allow manufacturing and construction companies, along with houses of worship, to resume operations under a strict set of safety […]

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Governor to Detail Re-Opening Plan; Manufacturing, Construction to Get Green Light

Economy HR & Employment Law News | May 15, 2020

The journey of a thousand miles begins with a single step. That’s what Massachusetts employers can expect today as Governor Charlie Baker announces details of a four-stage re-opening plan designed to allow the economy to get back up and running after the COVID-19 shutdown. The Baker Administration has been circumspect about what the governor will […]

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Company Invokes Rosie the Riveter for Mask Project

Economy News | May 12, 2020

Bruce Platzman is not one to sit back in a crisis. In 2001, the CEO of office-furniture manufacturer AIS in Leominster ramped up to make hundreds of workstations for the Pentagon in the days following 9/11. Now, Platzman and his team at AIS are thinking big to address the persistent shortage of personal protective equipment […]

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Governor Says Economy Will Re-Open in Four Phases

Economy News | May 11, 2020

Governor Charlie Baker said today that Massachusetts will re-open its economy in four phases beginning on May 18 as long as COVID-19 infections and hospitalizations continue to trend in a positive direction. The four phases – called Start, Cautious, Vigilant and the New Normal – are designed to methodically allow certain businesses, services, and activities […]

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AIM Members Lead Extraordinary Sprint Towards COVID Vaccine

Economy News | May 6, 2020

Longtime AIM member Pfizer Inc. announced yesterday that it has begun human clinical trials of a potential COVID-19 vaccine that could be available in October and would be made at the company’s facility in Andover. The company says the accelerated trials of its BNT162 vaccine should allow production of millions of vaccine doses in 2020, […]

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Employer Confidence Continues Slide

Economy News | May 5, 2020

Confidence among Massachusetts employers continued to erode during April as the commonwealth became a hotspot for COVID-19 and Governor Baker extended the closing of non-essential businesses until mid-May. The Associated Industries of Massachusetts Business Confidence Index fell 1.8 points after suffering its largest monthly decline ever during March. The Index ended April at 38.4, nearly […]

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You’ve Been Approved for a Paycheck Protection Program Loan. Now What?

Budget, Tax, & Finance Economy News | April 28, 2020

The Paycheck Protection Program, enacted under the Coronavirus Aid, Relief and Economic Security Act (CARES Act), is an extension of the Small Business Administration (SBA) 7(a) loan program, allowing financial institutions to provide federally backed, forgivable loans to eligible businesses.  The Paycheck Protection Program and loan forgiveness are intended to provide economic relief to small […]

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State Begins Accepting Unemployment Claims from Gig Workers

Budget, Tax, & Finance Economy HR & Employment Law News | April 20, 2020

The Executive Office of Labor & Workforce Development (EOLWD) announced that claimants were able to file for Pandemic Unemployment Assistance (PUA) beginning at 8:30 am today. PUA claimants can apply here.  The PUA is a program open to the following individuals: Self-employed individuals, including “gig” workers, freelancers, and independent contractors Those seeking part-time employment Claimants […]

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Pandemic Continues to Disrupt International Trade

Economy International | April 16, 2020

Tariff relief continues to be a priority for many US companies.  Supply chain disruptions are deepening.  Containers sit empty, idle or both at ports around the world.  Export restrictions are embraced—temporarily?  And the International Monetary Fund (IMF) and WorldBank share profound concerns about the global economy. Tariff Relief—With US companies fighting for survival and conserving […]

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Surge of 1099 Jobless Filings Poses Risk for Employers

Budget, Tax, & Finance Economy HR & Employment Law International | April 15, 2020

An expected surge of unemployment insurance applications from independent contractors poses a significant legal threat to employers in Massachusetts and elsewhere. The federal CARES Act extends pandemic unemployment insurance benefits for the first time to independent contractors whose work has ceased or been substantially reduced by COVID-19. The problem, according to experts, is that many […]

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