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Christopher Geehern

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Tech Foundry Addresses Burgeoning Need for IT Workers

Posted by Christopher Geehern on May 11, 2017 3:31:56 PM

Associated Industries of Massachusetts last week presented the John Gould Education and Workforce Development Award to Tech Foundry of Springfield.

Founded in 2013, Tech Foundry has trained more than 100 people ranging from high school students to older workers – many from underserved and at-risk populations – to meet the accelerating demand for qualified IT workers in western Massachusetts.

Here is their story...

 

Topics: AIM Annual Meeting, Education, Gould Education and Workforce Training

AIM Vision Awards | WHOI Makes Massachusetts Global Center of Ocean Science

Posted by Christopher Geehern on May 10, 2017 10:45:10 AM

Associated Industries of Massachusetts last week presented the second annual Vision Awards, which honor the accomplishments of companies and individuals who have made unique contributions to the economy and citizens of Massachusetts.

One of three 2017 Vision Awards went to Woods Hole Oceanographic Institution (WHOI) and its Director and President, Mark Abbott.

WHOI is the world’s largest, private non-profit oceanographic research institution and a global leader in the study and exploration of the ocean. An unmatched reputation for intellectual discovery under the water has allowed the organization to contribute to its economic surroundings out of the water as well.

Here is their story...

Topics: AIM Annual Meeting, Massachusetts employers, AIM Vision Award

AIM Vision Awards | Bright Horizons Helps Employers, Employees Balance Complex Work/Life Issues

Posted by Christopher Geehern on May 9, 2017 1:43:52 PM

Associated Industries of Massachusetts last week presented the second annual Vision Awards, which honor the accomplishments of companies and individuals who have made unique contributions to the economy and citizens of Massachusetts.

One of three 2017 Vision Awards went to Bright Horizons Family Solutions of Watertown and its co-founder, Linda Mason. Bright Horizons has forged a trusted global presence as an indispensable resource for employers and their workers seeking to address an increasingly complex array of work-life issues.

Here is their story...

 

Topics: AIM Annual Meeting, Massachusetts employers, AIM Vision Award

AIM Vision Award | Financial Services Pioneer Fidelity Continues to Innovate

Posted by Christopher Geehern on May 8, 2017 11:00:00 AM

Associated Industries of Massachusetts last week presented the second annual Vision Awards, which honor the accomplishments of companies and individuals who have made unique contributions to the economy and citizens of Massachusetts.

One of three 2017 Vision Awards went to financial services pioneer Fidelity Investments and its Chairman and Chief Executive Officer, Abby Johnson.

Fidelity has used innovation and an unrelenting focus on customer service to mold itself into a diversified financial services firm that is a leader in personal investing, workplace investing, and tools and services for financial intermediaries.

Here is their story:

Topics: AIM Annual Meeting, Massachusetts employers, AIM Vision Award

Governor Makes Case for Bipartisanship

Posted by Christopher Geehern on May 8, 2017 10:11:59 AM

Governor Charlie Baker, speaking one day after a health-care bill once again passed the US House of Representatives without a single vote from the minority party, made a passionate case for bipartisanship in a speech to the AIM Annual Meeting Friday.

Baker.2017.jpg“In the end, you’re not measured by how many things you opposed but how many things you get done,” the governor told more than 850 business leaders gathered at the Westin Boston Waterfront hotel.

“I take tremendous satisfaction from the fact that we get along with people on both sides of the aisle.”

Governor Baker has worked closely throughout his first two years in office with the two top Democrats in the Massachusetts Legislature – House Speaker Robert DeLeo and Senate President Stan Rosenberg – on complex issues ranging from the MBTA and energy policy to the opiate crisis. The bipartisan approach has made the governor the most popular chief executive in the nation, according to polls.

“I’ve learned a lot from people I don’t agree with,” said Governor Baker, who said his entire staff prides itself on listening to ideas from throughout the ideological spectrum.

The governor’s speech highlighted an Annual Meeting celebration that featured presentation of 2017 AIM Vision Awards to Fidelity Investments, Bright Horizons Family Solutions and Woods Hole Oceanographic Institution. AIM also presented the John Gould Education and Workforce Development Award to Tech Foundry of Springfield.

Governor Baker highlighted several bipartisan initiatives he said have been cornerstones of his administration:

  • Strengthening communities, including a $300 million funding increase for k-12 education, development of a second-generation MCAS test, $800 million for local roads and bridges and an initiative under which cities and towns can share best governing and management practices.
  • Economic growth, including a broad regulatory review, a multi-million-dollar investment in vocational/technical schools, streamlining of mass transit systems and an energy bill that maintains costs while reducing the commonwealth’s carbon footprint.
  • Improved efficiency, including reduced wait times at the Registry of Motor Vehicles and an overhaul of the Health Insurance Connector Authority, which broke down several years ago as residents were attempting to buy insurance.

Bipartisan cooperation, the governor said, was one of the primary reasons that General Electric Company chose to locate its corporate headquarters in Boston. The company has often cited the collaboration between the Republican Baker and Boston Mayor Marty Walsh, a Democrat, as a factor in its decision to move from Connecticut.

Governor Baker praised the work done by AIM to represent the interests of employers in public-policy debates.

He praised the association for its willingness to “speak candidly and straight about issues it cares about.”

Topics: AIM Annual Meeting, Massachusetts, Charlie Baker

Woods Hole Oceanographic President Discusses AIM Vision Award

Posted by Christopher Geehern on May 2, 2017 3:01:03 PM

Woods Hole Oceanographic Institution (WHOI) - the world’s largest, private non-profit oceanographic research institution and a lynchpin of the Massachusetts economy – will be one of three organizations honored with AIM Vision Awards on Friday.

Mark Abbott, the President and Executive Director of WHOI, spoke to Public Radio’s Living Lab Radio yesterday about receiving the Vision Award and about the organization’s long-term strategy for maintaining its status as a pre-eminent scientific center.

We invite you to listen to his comments. Please go to 6:07 on the audio download from WCAI in Falmouth.

Listen to the Interview

Other 2017 Vision Award winners are Fidelity Investments and Bright Horizons Family Solutions.

Topics: AIM Vision Award

Business Confidence Retreats After Seven-Month Rally

Posted by Christopher Geehern on May 2, 2017 9:46:20 AM

Massachusetts employers hit the pause button on a seven-month rally in business confidence during April, but their outlook remained solidly optimistic in the face of mixed political and economic signals.

BCI.April.2017.jpgThe Associated Industries of Massachusetts Business Confidence Index (BCI) lost 2.2 points to 60.2 last month, 4.0 points higher than its level of a year earlier. Every constituent element of the confidence index lost ground after reaching a 13-year high during March.

The results came as the Massachusetts economy contracted at a 0.5 percent annual rate during the first quarter and the state unemployment rate rose to 3.6 percent.

“We should not be surprised to see confidence readings correct slightly after advancing six points since September,” said Raymond G. Torto, Chair of AIM's Board of Economic Advisors (BEA) and Lecturer, Harvard Graduate School of Design.

“It bears watching to determine whether the broad April decline becomes a trend as we move into the summer.”

Analysts believe the numbers may reflect growing concern among employers about the ability of the Trump Administration to deliver the many pro-growth policies it promised during the campaign.

The AIM Index, based on a survey of 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 index has remained above 50 since October 2013.

Employers grew less confident about both the overall economy and their own operations during April.

The Massachusetts Index, assessing business conditions within the commonwealth, lost 0.4 points to 63.3, leaving it 6 points higher than in April 2016.

The U.S. Index of national business conditions shed 2.7 points after gaining ground for the previous sixth months. April marked the 85th consecutive month in which employers have been more optimistic about the Massachusetts economy than the national economy.

The Current Index, which assesses overall business conditions at the time of the survey, declined 1.9 points to 59.9 while the Future Index, measuring expectations for six months out, dropped 2.5 points to 60.5. The future outlook remained 3.2 points higher than a year ago.

The Company Index, reflecting overall business conditions, fell 2.6 points to 60.2. The Employment Index fell 2.8 points to 56.2, and the Sales Index declined 2.1 points to 60.5.

The AIM survey found that nearly 39 percent of respondents reported adding staff during the past six months while 19 percent reduced employment. Expectations for the next six months were stable – 37 percent hiring and only 10 percent downsizing.

Barry Bluestone, Stearns Trustee Professor of Political Economy at Northeastern University and a BEA member, noted that the Massachusetts economy is running up against tightness in the labor market that makes it difficult for employers to grow.

“The combination of a prolonged economic recovery and the demographics of skilled workers retiring with no one to replace them is creating an impediment to growth for Massachusetts employers. The shortage underscores once again the importance of creating an education and training system that responds to the demands of the economy,” Bluestone said.

The April survey also reversed an unusual result in March when Western Massachusetts companies were more confident than those in the eastern portion of the commonwealth. Eastern Massachusetts employers posted a 61.7 confidence reading in April versus 58 for employers in the western part of the state.

AIM President and CEO Richard C. Lord, also a BEA member, said employer confidence is also facing headwinds from accelerating health-care and health-insurance costs. Massachusetts has exceeded its objective for health-care spending in each of the past two years and employers continue to pay some of the highest costs in the nation.

“The good news is that Massachusetts is beginning to identify some answers. And there appears to be enough common ground and political will on the issue to pursue some solutions,” Lord said.

“New research conducted by the Massachusetts Health Policy Commission suggests that Massachusetts employers, insurers and policymakers could reduce total health-care expenditures anywhere from $279 million per year to $794 million per year, or 0.5 to 1.3 percent, by making several key improvements to the health-care system.”

Topics: AIM Business Confidence Index, Massachusetts economy, Economy

Employer Confidence Rises Again in March

Posted by Christopher Geehern on Apr 4, 2017 8:47:09 AM

Massachusetts employer confidence inched higher during March amid a swirl of contradictory economic and political signals.

BCI.March.2017.jpgThe Associated Industries of Massachusetts Business Confidence Index (BCI) increased 0.3 points to 62.4 last month, 5.9 points higher than its level of a year earlier and the highest reading since August 2004. The seventh consecutive monthly improvement reflected an increase in the U.S. Index of national business conditions, which has risen 9.1 points during the previous year, and a bullish overall view of current conditions.

The results came as the government announced that the U.S. economy grew in the fourth quarter at a faster pace than previously reported on higher consumer spending. At the same time, the Massachusetts unemployment rate rose to 3.4 percent as employers created jobs at an annual pace of 57,700.

“Massachusetts employers remain broadly confident about both the state and national economies,” said Raymond G. Torto, Chair of AIM's Board of Economic Advisors (BEA) and Lecturer at the Harvard Graduate School of Design.

“Slight declines in the Employment Index, the Manufacturing Index and projections about the economy six months from now perhaps reflect some of the uncertainty about the direction of economic policy in Washington.”

The AIM Index, based on a survey of 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 index has remained above 50 since October 2013.

The sub-indices based on selected questions or categories of employer were mixed during March.

The Massachusetts Index, assessing business conditions within the commonwealth, rose 0.5 points to 63.7, leaving it 6.2 points higher than in March 2016.

The U.S. Index of national business conditions gained ground for the sixth consecutive month. Views of the national economy rose one point to 59.9. Still, February marked the 83rd consecutive month in which employers have been more optimistic about the Massachusetts economy than the national economy.

The Current Index, which assesses overall business conditions at the time of the survey, surged 1.9 points to 61.8 while the Future Index, measuring expectations for six months out, lost 1.4 points to 63.0. The future outlook was 4.9 points higher than a year ago.

The sub-indices bearing on survey respondents’ own operations were also ambiguous.

The Company Index, reflecting overall business conditions, remained unchanged from February at 62.8. The Employment Index fell 1.4 points to 60.4, but the Sales Index gained 1.1 points to 62.6.

The AIM survey found that nearly 39 percent of respondents reported adding staff during the past six months while 19 percent reduced employment. Expectations for the next six months were stable – 37 percent hiring and only 10 percent downsizing.

One of the most unusual results of the March survey was that Western Massachusetts companies were more confident (63.6) than those in the eastern portion of the commonwealth (62.2). Confidence outside of the white-hot Boston economy has been increasing steadily for months, but experts say it is too soon to say whether the geographic shift represents a long-term trend or a statistical anomaly.

Paul Bolger, President, Massachusetts Capital Resource Company, and a BEA member, noted that the March confidence survey was taken just as Republican efforts to repeal federal health reform fell apart.

“Employers have anticipated that a Republican Congress and a Republican president would deliver traditional pro-growth measures such as tax reform and infrastructure improvements. The failure of those parties to pass health-reform legislation seems to have created uncertainty about other legislative priorities that matter to employers,” Bolger said.

AIM President and CEO Richard C. Lord, also a BEA member, echoed the sense of uncertainty that hangs over Massachusetts as federal policymakers in Washington struggle to establish a direction.

“Many growth industries in Massachusetts such as health care, higher education, research and defense, depend upon federal funding and are vulnerable to potential budget reductions,” Lord said.

“Discussion of transitioning Medicaid, the health-insurance program for low-income Americans, to block grants also has significant implications to the health care system that is already straining employers.”

Topics: AIM Business Confidence Index, Massachusetts economy, Massachusetts employers

Uber Envisions New Transportation Model

Posted by Christopher Geehern on Mar 30, 2017 4:16:43 PM

The ride-sharing app Uber has logged the fastest ascent in Silicon Valley history, growing from a startup eight years ago to a company operating across 450 cities in 73 countries and serving 40 million customers each month.

But the company’s Boston-based regional manager, Meghan Verena Joyce, said the company’s ultimate objective is much larger - to merge traditional transportation infrastructure with new technology to create a new model of moving from one place to another.

“I often wonder whether my daughter will ever have a driver’s license,” Joyce mused as she spoke to 300 people at the AIM Executive Forum in Waltham this morning.

The new transportation model, Joyce said, will make efficient use of private automobiles and public transit to reduce traffic congestion, greenhouse gas emissions and land-intensive parking. It will create a system in which everyone – including people in low-income urban areas often left out of the transit grid – will have access to reliable and affordable transportation.

“We believe there is a better way,” said Joyce, a Harvard MBA who served as an associate at Bain Capital and as a senior policy advisor at the US Treasury before joining Uber in 2013.

The challenge is not the one billion automobiles that exist worldwide, according to Joyce, but the solitary manner in which we use them. A show of hands from the audience indicated that the vast majority of people had driven to the Executive Forum with only one person in the vehicle.

Joyce said that Uber has already taken steps to integrate technology with existing transportation infrastructure to streamline the system. Many Uber customers in Boston combine ride-sharing with the MBTA, while others use a modified car-pooling initiative called UberPOOL to share rides with neighbors who travel to the same locations at similar times.

Almost one-third of Uber trips in Great Boston come from UberPOOL, according to Joyce. In San Francisco, where UberPOOL has existed for a longer time, the program has reduced car traffic in that city and saved an estimated 6.2 million gallons of gasoline while cutting carbon dioxide emissions by an estimated 55,000 metric tons.

Joyce said Uber’s vision also includes providing transportation options for people in low-income urban areas. People in Dorchester and Mattappan, who she said formerly waited an average of 25 minutes for taxi pickups, now enjoy 96 percent reliability and pickups within 3-5 minutes with ride sharing.

“Our vision is to create a transportation ecosystem that is better for everyone,” she said.

Topics: Associated Industries of Massachusetts, AIM Executive Forum, Transportation

Employer Confidence Hits 13-Year High

Posted by Christopher Geehern on Mar 7, 2017 8:45:12 AM

Confidence among Massachusetts employers hit a 13-year high during February, fueled by optimism among manufacturers and an increasingly positive view of the national economy.

BCI.February.2017.jpgThe Associated Industries of Massachusetts Business Confidence Index (BCI) rose 0.7 points to 62.1 last month, seven points higher than its level of a year earlier and the highest reading since August 2004. Driving the increase was the U.S. Index of national business conditions, which has risen 11.5 points during the past year, and the Manufacturing Index, which surged 9.1 points.

The results came amid increasingly mixed economic signals that included a 2.8 percent Massachusetts unemployment rate and a significant slowdown in economic growth both in Massachusetts and nationally during the fourth quarter.

“The increase in confidence was more modest than we have seen in previous months. Employers projected a generally positive view of the economy, but were also taking the measure of potential economic policy changes in Washington,” said Raymond G. Torto, Chair of AIM's Board of Economic Advisors (BEA) and Lecturer, Harvard Graduate School of Design.

“Employers remain more optimistic about the future than about the present - a good indicator of the potential for continued growth and investment both in Massachusetts and nationally.”

The AIM Index, based on a survey of 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 index has remained above 50 since October 2013.

Almost all of the sub-indices based on selected questions or categories of employer were up during February.
The notable exception was the Massachusetts Index, assessing business conditions within the commonwealth, which declined 0.2 points to 63.2. The state index nevertheless remained 6.8 points higher than in February 2016.

Meanwhile, the U.S. Index of national business conditions gained ground for the fifth consecutive month. Employers appear encouraged by the possibility that Congress and the new administration will pass growth measures that could include tax and regulatory reform.

February marked the 82nd consecutive month in which employers have been more optimistic about the Massachusetts economy than the national economy.

The Current Index, which assesses overall business conditions at the time of the survey, increased 0.5 points to 59.9 while the Future Index, measuring expectations for six months out, rose 1.1 points to 64.4. The future outlook was 8.5 points better than a year ago and higher than at any point since May of 2004.

The sub-indices bearing on survey respondents’ own operations were mixed.

The Company Index, reflecting overall business conditions, rose 0.9 points to 62.8 while the Employment Index gained two points to 60.4. The Sales Index lost 0.4 points to 62.6.

The AIM survey found that nearly 39 percent of respondents reported adding staff during the past six months while 19 percent reduced employment. Expectations for the next six months were stable – 37 percent hiring and only 10 percent downsizing.

Michael Tyler, Chief Investment Officer, Eastern Bank Wealth Management, and a BEA member, noted that the traditional confidence gaps between manufacturing companies and non-manufacturers, and between companies located in the eastern and western portions of Massachusetts, have closed in recent months.

“Confidence among Massachusetts manufacturers has risen 9.1 points during the past year and now stands at 61.2 compared to 63.0 for non-manufacturers. And confidence among companies in western and central Massachusetts hit 61.8 in February compared to 62.6 for companies in the eastern part of the state,” Tyler said.

"Those results suggest that the benefits of economic growth are finally spreading from Greater Boston to the entire state. What's more, as the dollar's rise has stabilized, manufacturers are finally sharing the positive view that service sector employers have felt for several years."

AIM President and CEO Richard C. Lord, also a BEA member, said the 2.8 percent unemployment rate in Massachusetts and the commonwealth’s designation last week as the best state in the nation by US News and World Report underscore the fact the Bay State economy remains strong.

At the same time, Lord said, employers face an uncertain mix of policy initiatives in Washington.

“Employers are certainly enthusiastic about lower corporate taxes, streamlined regulation and a meaningful infrastructure program. They are not as enthusiastic about withdrawing from trade agreements and once again having to process major changes in health reform,” he said.

Topics: AIM Business Confidence Index, Massachusetts economy, Massachusetts employers

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