Economy

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Business Confidence Remains Flat to Close out 2020

Economy News | January 11, 2021

Confidence among Massachusetts businesses remained flat during the final month of 2020 as employers ended a tumultuous year with a cautious outlook. The Associated Industries of Massachusetts Business Confidence Index (BCI) remained unchanged during December at 49.3. The reading was 12.9 points lower than in December 2019, but more than 10 points higher than its […]

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Here’s a Summary of the Legislature’s 2019-2020 Session

Budget, Tax, & Finance Economy Energy Health Care Costs HR & Employment Law News | January 11, 2021

The Massachusetts Legislature ended an extended 2019-2020 session on January 5 having passed significant laws dealing with everything from economic development to transportation to health care. What will the new laws mean to employers? And how will they influence the ability of the commonwealth’s economy to recover in the wake of the COVID-19 pandemic? The […]

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Legislature Passes Economic Development, Transportation Bills

Budget, Tax, & Finance Economy News | January 6, 2021

The Massachusetts Legislature wrapped up its two-year session near sunrise this morning by passing both a $626 million economic development bill and a $16.5 billion transportation bond measure that, due to aggressive advocacy by AIM and others, did not raise corporate minimum taxes. The flurry of activity ended the COVID-dominated 2019-2020 session without any broad-based […]

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Baker Administration Allocates $668 Million to Small-Business Grant Program

Economy News | December 24, 2020

The Baker administration announced yesterday that an additional $668 million will be allocated to a popular grant program to help small businesses impacted by the COVID-19 pandemic. The program, offered through the Massachusetts Capital Growth Partnership (MCGP), received more than 10,000 applications after it was originally authorized by the Massachusetts Legislature. Initial funding provided nearly $49 million in grants through the […]

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Governor Announces New Capacity Restrictions

Budget, Tax, & Finance Economy News | December 22, 2020

Today Governor Baker announced new temporary orders to reduce capacity across many businesses to 25% from the current 40% for most businesses (See graph below).  The new orders go into effect at 12:01 December 26, 2020 and will remain in place until noon on January 10, 2021.    The Governor also announced a new order related to gatherings, impacting residential, public and business gatherings, to no more than 10 people for inside gatherings and 25 people […]

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AIM Calls for Urgent Freeze on Unemployment Tax Rates for 2021

Economy News | December 21, 2020

Associated Industries of Massachusetts has worked tirelessly with elected officials on both the state and federal levels to moderate a potentially disastrous 60 percent increase in unemployment insurance rates next year and to keep the Unemployment Insurance Trust Fund on sound financial footing. Last Friday, Governor Charlie Baker took a major step toward addressing that […]

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Stimulus Bill Would Re-Invigorate PPP; Clarify Tax Status

Budget, Tax, & Finance Economy News | December 21, 2020

Congressional negotiators announced agreement Sunday on a $900 billion COVID-19 economic relief package, delivering help to businesses and individuals and providing money to deliver newly approved vaccines. Lawmakers plan to vote on the stimulus legislation today. AIM will continue to monitor the action by Congress to advance this legislation. The agreement follows several months of […]

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Experts to Discuss Vaccine Implications for Employers

Economy Health Care Costs HR & Employment Law News | December 13, 2020

Dr. Michael Collins, the Chancellor of the University of Massachusetts Medical School, understands better than most people the importance of getting the new COVID-19 vaccines to residents in an efficient and effective manner. “Be assured, all pandemics have ended, and this one will, too,” Collins told the University of Massachusetts Board of Trustees last week. […]

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Governor Announces Rollback of Re-Opening Plan

Economy News | December 8, 2020

Effective Sunday, December 13, Massachusetts will roll back to Step 1 of Phase 3 under a new announcement by Governor Baker.  These changes are the result of the rate of COVID positive test cases increasing, Massachusetts hospitals experiencing capacity challenges from the rate of hospitalization and healthcare provider now facing COVID related workforce challenges.   The return to Step 1 of Phase 3 on December 13th will also require the closure of certain […]

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Employer Confidence Strengthens During November

Economy News | December 7, 2020

Confidence among Massachusetts businesses last month rose to its highest level since February, inching toward optimism as vaccines raised hopes for an end to the COVID-induced economic slowdown. The Associated Industries of Massachusetts Business Confidence Index (BCI) gained 3.1 points to 49.3 during November, just shy of the level that denotes an optimistic view of […]

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