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Employers Begin 2018 on Confident Note

Posted by Christopher Geehern on Feb 6, 2018 8:06:35 AM

Massachusetts employers began 2018 much the way they ended 2017 – with growing confidence in the economy and optimism about their own business prospects.

BCI.January.2018.jpgThe Associated Industries of Massachusetts Business Confidence Index (BCI) rose half a point to 64.1 during January, setting another 17-year high. The BCI has gained 2.7 points during the past 12 months as employer confidence levels have remained comfortably within the optimistic range.

Growing enthusiasm about the Massachusetts economy and a brightening outlook on economic conditions six months from now fueled the January confidence increase. At the same time, the hiring outlook remained muted as low unemployment and demographic shifts continued to impede the ability of employers to find the workers they need.

The survey was taken prior to major declines in global financial markets during the past several days.

“Rising confidence is not surprising in a state with 3.5 percent unemployment and an economy that grew at a 3.3 percent annual rate during the fourth quarter,” said Raymond G. Torto, Chair of AIM's Board of Economic Advisors (BEA) and Lecturer, Harvard Graduate School of Design.

“Economic output, job growth and spending all rose at a healthy clip in Massachusetts during the final three months of the year and economists expect modest growth to continue during the first half of 2018.”

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.

Constituent Indicators  

The constituent indicators that make up the overall Business Confidence Index were mixed during January.

The most significant gain came in the Massachusetts Index assessing business conditions within the commonwealth, which rose 1.3 points to 68.9. The Massachusetts Index has gained 3.7 points in the past two months, 5.5 points year over year and now stands at its highest level since November 2000.

The U.S. Index of national business conditions also continued a yearlong rally by gaining 0.6 points to 64.8. January marked the 95th 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, decreased a point to 61.7 while the Future Index, measuring expectations for six months out, surged 2.1 points to 66.6. The Current Index has risen 2.1 points and the Future Index 3.3 points during the past 12 months.

Operational Views

The Company Index, reflecting employer views of their own operations and prospects, rose slightly, gaining 0.2 points to 62.3. The Employment Index was essentially flat, leaving it 2.1 points below its level of January 2017.

Non-manufacturing companies (66.6) were more optimistic than manufacturers (62.3). Large employers (67.2) were more bullish than medium-sized (62.7) or small businesses (63.5).

“The strong Future Index readings signal that employers anticipate steady growth during the first two quarters of 2018. The only fly in ointment remains the prospect that labor shortages may constrict the ability of companies to grow and expand,” said Paul Bolger, President, Massachusetts Capital Resource Company and a BEA member.

Political Risks

AIM President and CEO Richard C. Lord, also BEA member, said 2018 brings with it significant risk for employers as progressive groups push ballot questions that could create a $1 billion paid family and medical leave program, impose a punitive tax on many small businesses and raise the state minimum wage to $15 per hour.

“The Massachusetts Supreme Judicial Court will today hear arguments in a challenge that I and four other business leaders filed to the constitutionality of the income surtax question. Meanwhile, the business community is seeking common ground on a compromise paid-leave proposal that will not harm the economy,” Lord said.

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

Employer Confidence Closes 2017 at 18-Year High

Posted by Christopher Geehern on Jan 9, 2018 8:51:27 AM

Surging optimism about the state and national economies left Massachusetts employers with their highest level of confidence in 18 years as 2017 drew to a close.

BCI.December.2017.jpgThe Associated Industries of Massachusetts Business Confidence Index (BCI) rose one point to 63.6 during December, its highest level since November 2000. The BCI gained 3.2 points during a year in which employer confidence levels remained comfortably within the optimistic range.

Every element of the overall index increased during 2017 except for the Employment Index, which dropped half a point. Analysts believe low unemployment and demographic shifts are impeding the ability of employers to find the workers they need.

“Massachusetts employers maintained a uniformly positive outlook throughout 2017 and passage of the federal tax bill only added to that optimism,” said Raymond G. Torto, Chair of AIM's Board of Economic Advisors (BEA) and Lecturer, Harvard Graduate School of Design.

“At the same time, the 12-month decline in the Employment Index reminds us that the persistent shortage of skilled workers has reached an inflection point for the Massachusetts economy. Massachusetts companies have postponed expansions, declined to bid for contracts or outsourced work because they simply can’t find people.”

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.

Constituent Indicators

The constituent indicators that make up the overall Business Confidence Index were mostly higher during December.

The Massachusetts Index, assessing business conditions within the commonwealth, surged 2.4 points to 67.6, leaving it 5.8 points better than a year earlier.

The U.S. Index of national business conditions continued a yearlong rally by gaining 2 points to 64.2. December marked the 94th 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, decreased 0.7 points to 62.7 while the Future Index, measuring expectations for six months out, rose 2.7 points to 64.5. The Current Index gained 3.6 points and the Future Index 2.8 points during 2017.

Operational Views

The Company Index, reflecting employer views of their own operations and prospects, declined 0.2 points to 62.1.

The Employment Index rose slightly to 56.7, but still ended the year 0.5 points below the 57.2 posted in December 2016.

Manufacturing companies (64.3) continued to be more optimistic than non-manufacturers (62.6). Another unusual result was that employers in western Massachusetts (64.6) posted higher confidence readings than those in the eastern portion of the commonwealth (62.7).

“Employer attitudes largely reflect a national economy that grew at its fastest pace in three years during the third quarter on the strength of business spending on equipment. The headline is that unemployment is down and the financial markets are up,” said Michael A. Tyler, CFA, Chief Investment Officer, Eastern Bank Wealth Management, and a BEA member.

AIM President and CEO Richard C. Lord, also BEA member, said employers received an early Christmas present from a federal tax bill that reduced corporate rates from 35 percent to 21 percent and reduced rates for pass-through entities such as subchapter S corporations as well.

“The tax bill produced short-term benefits, ranging from companies like Comcast and Citizens Financial providing bonuses to employees to the utility Eversource reducing electric rates in Massachusetts,” Lord said.

“At the same time, employers are cautious about the effect that other provisions – including limitations on the deduction for state and local taxes – will have on the overall Massachusetts economy.”

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

Tax Reform to Reduce Electric Rates

Posted by Bob Rio on Jan 3, 2018 6:22:15 PM

Federal tax reform may soon generate a $56 million windfall for Eversource electric ratepayers in Massachusetts.

Electriclinessmall.jpgEversource disclosed in a filing with the Department of Public Utilities today that the reduction in federal corporate tax rates from 35 percent to 21 percent will allow the company to reverse the rate increase approved for NSTAR customers in November and to reduce the amount of increase for customers of Western Massachusetts Electric Company.

NSTAR customers will now see a $35.4 million decrease in base rates instead of a $12.2 million increase. Western Massachusetts Electric customers will see their rate increase shrink from $24.8 million to $16.5 million.

Eversource indicated that it may seek additional rate reductions next January after calculating excess deferred taxes.

“Great news for Massachusetts employers struggling to manage the high cost of electricity,” said John Regan, Executive Vice President of Government Affairs for Associated Industries of Massachusetts.

“Tax reform created a tremendous opportunity to provide rate relief to customers and Eversource deserves credit for moving rapidly to realize that opportunity."

Attorney General Maura Healey filed a motion with the DPU on December 20 seeking larger rate reductions. Eversource says its agrees with the need to reduce rates, but calculates the numbers differently. Utility regulators will now determine the final figures to be implemented on February 1.

AIM urges the DPU to approve the rate reductions for Eversource and to review the rates of other utilities in the wake of the changes in federal tax law.

Topics: Massachusetts employers, Energy, Massachusetts Department of Public Utilities

Summing Up, Looking Ahead: Challenges Await Employers

Posted by Rick Lord on Jan 2, 2018 8:30:00 AM

The first half of the 2017-2018 legislative session in Massachusetts was dominated by the issue of health-care costs and the role employers should play in helping to close a budget gap in the state Medicaid program.

Exterior.jpgBut larger battles await during 2018 as progressive activists seek to place three questions on the Massachusetts election ballot that would together impede economic growth for a generation. The initiatives would impose an 80 percent surtax on incomes more than $1 million for pass-through businesses, establish a $1.3 billion-per-year paid leave program and increase the minimum wage to $15 per hour.

Associated Industries of Massachusetts worked successfully during 2017 on a range of issues confronting its member employers from every sector of the economy.

The most important achievement was a compromise that transformed a proposed $700 million annual health-care surtax into a two-year, $200 million assessment to close the budget shortfall in the commonwealth’s health-insurance program for low-income people. The assessment increased the Employer Medical Assistance Contribution (EMAC) in a manner that will fall most heavily on companies where employees use MassHealth instead of an employer health plan.

The levy will be partially offset by a two-year Unemployment Insurance rate adjustment that will save employers $335 million over two years versus current rates. AIM was disappointed that lawmakers passed the assessment without making structural reforms to the MassHealth program.

“We believe, however, that the Legislature is committed to resolving the financial problems at MassHealth and employers look forward to working with lawmakers toward that goal in 2018,” said John Regan, Executive Vice President of Government Affairs at AIM.

AIM also played a key role in hammering out compromise legislation to extend employment protection to pregnant workers in Massachusetts.

The Pregnant Workers Fairness Act requires employers to make reasonable workplace accommodations for pregnant employees — more frequent or longer breaks, temporary transfer to a less strenuous or hazardous position, a modified work schedule, or seating for those whose jobs require extended standing.  AIM opposed early versions of the bill because of concern among employers that the legislation provided an applicant or employee with unlimited power to reject multiple and reasonable offers of accommodation by an employer. The compromise bill addresses that concern.

There was no such compromise in August when the Baker Administration introduced regulations that set specific limits on sources of greenhouse gases, the emissions linked to climate change. State officials indicate that the regulations could increase costs to electric ratepayers by as much as 2 percent. The new rules aim to reduce the state’s carbon emissions 25 percent below 1990 levels by 2020, as required by state law.

The regulations, however, were ultimately unnecessary. The administration could have chosen to work with the Legislature to change the Global Warming Solutions Act to allow alternative ways for the electricity sector to meet these obligations.  The administration instead turned a blind eye to the corrosive impacts that high electric rates are having on struggling Massachusetts companies.

The three potential 2018 ballot questions would represent an unprecedented potential policy crisis for Massachusetts:

  • The constitutional tax amendment would raise from 5.1 percent to 9.1 percent the levy on income of more than $1 million per year, including income generated by subchapter S-corporations, LLPs, LLCs, partnerships, and other pass-through entities. The $1.9 billion tax increase would be paid by roughly 19,500 filers, 80 percent of whom are anticipated to file with some business income.
  • The paid leave question would mandate 16 weeks of paid family leave and 26 weeks of paid medical leave for employees for a total projected cost of $1.3 billion.
  • The minimum wage question would raise the wage from the current $11 per hour in annual $1 per-hour annual increments starting in 2019 until it reaches $15 an hour in 2022. That amounts to a projected increase of 36 percent.

Supporters of the paid-leave and minimum wage questions filed the requisite number of signatures last month to move a step closer to the ballot. Massachusetts lawmakers now have until the end of April to consider and pass the initiatives. Any initiatives that are not adopted must gather and file an additional 10,792 signatures by July 3 to make the 2018 ballot.

The income surtax constitutional amendment qualified for the ballot in 2016. In October, I joined four other prominent business leaders in filing a suit challenging the validity of the proposal, asserting that the amendment is riddled with constitutional flaws and would make the new tax essentially permanent and unchangeable. 

“It is impossible to overstate the potential threat that these three ballot questions pose for Massachusetts employers.  The advocates supporting the questions are well funded and are prepared to spend millions of dollars to get their message across to voters,” Regan said.

The ballot battle will take place just as employers begin to comply with the new Massachusetts Pay Equity Law on July 1, 2018. The law prohibits employers from discriminating based on gender in the payment of wages and other compensation for “comparable” work. Many employers are already undertaking the internal wage studies that provide a safe harbor from litigation under the statute.

Beacon Hill lawmakers will conclude the second year of their two-year session on July 31. The end of formal sessions will kick off an election season that will see Governor Charlie Baker, US Senator Elizabeth Warren and other prominent office holders face re-election challenges.

 

Topics: Massachusetts Legislature, Massachusetts employers, Charlie Baker

Would You Buy Your Own Business?

Posted by Christopher Geehern on Nov 30, 2017 8:30:00 AM

Editor’s Note – The following article was written by Rudi Scheiber-Kurtz, CEO of Next Stage Solutions in Burlington, and Gregory R. Rush, Partner & Co-Founder of Dunn Rush & Co. of Boston. They will lead a webinar for AIM and the Exit Planning Exchange New England called “Would You Buy Your Business?” on Wednesday, Dec 6 at noon.

Would you buy your business?

Two_Women.jpgA provocative question indeed, knowing that most business owners will not be able to sell their companies when they’re ready.

It’s discouraging when a business owner realizes that she or he will not get the multiple needed to create a comfortable retirement. According to a recent Forbes article “many owners probably won’t be able to sell their businesses when they’re ready, because they are not taking the critical steps.”

How do you fare in building value for your business, whether in growth mode or ready to sell in the next few years?  Have you done a benchmark assessment to understand where you stand today? What strategic plans have your drawn up for the next three years to achieve sustainable growth?

The December 6 webinar will allow us to take you through the “why” and “how” of building value for your business.  The first part will review benchmarks from a buyers’ perspective and why it is important to focus on these pieces.   The second part will give the “how” tools with seven modules so you can systematically create value over time.

The stakes could not be higher: Getting your business into a scaling and growth mode and increasing the valuation of your business will determine whether you can fund your retirement.

Sometimes you can’t see the forest for the trees.  Understanding what a buyer thinks of your business will help you to improve the way in which you address market demands.  Taking you out of working in the business to working on the business will transition you from manager to leader, an important next stage for your business.

Yogi Berra’s famous quote “When you get to the fork in the road, take it” is a great thought, however, if you get to the fork and get stuck, you may not have any option about which road to take.

This webinar will be a first step to understanding the perspective of a buyer and what you need to focus on over the next few years.

Associated Industries of Massachusetts is presenting the webinar because many of the association’s 4,000 member employers are small or family-owned companies that struggle with transition strategies.

“Sure, AIM counts plenty of internationally recognized corporations as members, but the association has always had a core membership of small to medium-sized employers who often never have the opportunity to see their businesses the way a potential buyer does,” said AIM President and Chief Executive Officer Richard C. Lord.

The one-hour webinar will provide plenty of time for your questions. 

Register for the Webinar

 

Topics: Massachusetts employers, Management

Business Confidence Hits Another High for 2017

Posted by Christopher Geehern on Nov 7, 2017 8:27:44 AM

Employer confidence in Massachusetts hit another high for 2017 during October as economic growth accelerated and companies remained optimistic about the national outlook.

BCI.October.2017.jpgThe Associated Industries of Massachusetts Business Confidence Index (BCI) edged up 0.3 points to 62.7, leaving it 6.5 points better than in October 2016. The uptick was driven by a brightening view of employment growth and firming confidence among manufacturers.

The reading came as MassBenchmarks reported that the Massachusetts economy grew at 5.9 percent during the third quarter, almost double the rate of the national economy. Payroll employment grew at a 2.1 percent annual rate in Massachusetts in the third quarter as compared to 1.2 percent nationally.

“The acceleration of the Massachusetts economy in the third quarter provided additional fuel to an already solid sense of confidence among employers as we head for 2018,” said Raymond G. Torto, Chair of AIM's Board of Economic Advisors (BEA) and Lecturer, Harvard Graduate School of Design.

“At the same time, optimism about the national economy suggests that employers believe growth rates throughout the US will increase even more if Congress follows through on its proposal to lower the corporate tax rate from 35 percent to 20 percent.”

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.

Constituent Indicators

The constituent indicators that make up the overall Business Confidence Index pointed mostly higher during October.

The Massachusetts Index, assessing business conditions within the commonwealth, slipped 0.3 points to 65.1, still 4.1 points more than a year earlier. October marked the 91st consecutive month in which employers have been more optimistic about the Massachusetts economy than the national economy.

The U.S. Index of national business conditions rose 2.7 points to 62.5, continuing a 13.3-point surge for the 12-month period. 

The Current Index, which assesses overall business conditions at the time of the survey, increased 0.7 points to 63.6 while the Future Index, measuring expectations for six months out, remained even at 61.9 points. The Current Index has risen 7.6 points and the Future Index 5.6 points during the past year.

Operational Views

The Company Index, reflecting overall business conditions, lost 0.3 points to 62.0. There was better news in the Employment Index, a key predictor of economic health, which rose 2.0 points to 57.8.

“The Massachusetts economy continues to grow at a robust pace and to add jobs in a broad array of sectors despite tightening regional labor markets. With the statewide unemployment rate now below four percent, it is not clear the commonwealth’s economic expansion is sustainable at its current pace,” noted Professor Michael D. Goodman, Executive Director of the Public Policy Center (PPC) at UMass Dartmouth and a BEA member.
Massachusetts Concerns

AIM President and CEO Richard C. Lord, a BEA member, said employer optimism continues to be tempered by the prospect of three potentially destructive ballot questions appearing on the 2018 state election ballot.

“Massachusetts employers face an unprecedented public-policy crisis as activists seek to place three questions on the 2018 Massachusetts election ballot that would together impede economic growth for a generation: a surtax on incomes of more than $1 million, an expansive and bureaucratic paid family leave program and an increase in the minimum wage,” Lord said.

“Having just honored 16 Massachusetts employers for creating jobs and economic opportunity for the people of Massachusetts, AIM remains concerned about ballot questions that are clearly intended to be punitive toward employers.”

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

Employers Renew Commitment to Pay Equity

Posted by Joanne Hilferty on Oct 20, 2017 8:30:00 AM

Editor's Note - Joanne Hilferty is President and Chief Executive Officer of Morgan Memorial Goodwill Industries in Boston and a member of the AIM Board of Directors.

Massachusetts employers say they are committed to accelerating the modest progress they have made to close the gender pay gap.

Fourpeople.jpgScores of business leaders shared challenges and success stories recently at the third annual Boston Women’s Workforce Council (BWWC) Best Practices Conference at the Colonnade Hotel in Boston. Associated Industries of Massachusetts is a signatory to the Boston 100 Percent Talent Compact developed by the Council, Boston University and the City of Boston to ensure that men and women enjoy equal compensation opportunities in the work force.

Several prominent members of AIM have also signed the document, including Blue Cross Blue Shield of Massachusetts, Boston Children’s Hospital, Eastern Bank, Eversource, Harvard Pilgrim, MassMutual, MORE Advertising, National Grid, Putnam Investments, Staples and State Street Corporation. I am proud to say that the organization I lead, Morgan Memorial Goodwill Industries, is also a signatory.

Companies that sign the compact commit to reviewing their compensation practices to ensure fairness. These companies provide compensation data anonymously to researchers at Boston University who use it to develop a broad assessment of wage equality in Massachusetts. 

“AIM signed the Compact because Massachusetts employers operate in a competitive, talent-driven economy in which companies that reward skilled workers equally will come out on top,” said Rick Lord, President and Chief Executive Officer of AIM.

“Wage equity will ultimately be driven by the marketplace, which is desperately short of the employees needed to drive economic growth in the next decade.”

The 2017 Best Practices Conference drew more than 220 participants.

Business leaders noted that companies looking at signing the compact have expressed concern about the need to guarantee the confidentiality of any compensation data they provide to the project. Council executives say they can guarantee confidentiality but need to better communicate that point to employers.

The conference also provided an opportunity for the BWWC’s Co-Chairs, Cathy Minehan and Evelyn Murphy, to share the highlights from the 2017 data analysis, the full results of which will be published in the organization’s 2017 report, out later this year.  The key takeaway was that there has been some progress – albeit limited – in addressing the wage gap.

Governor Charlie Baker last year signed a compromise pay-equity law that is intended to promote salary transparency while recognizing legitimate market forces such as performance and the competitive landscape for certain skills that cause pay differences among employees.  AIM supported the compromise.

Topics: Employment Law, Massachusetts employers, wage equity

Employer Confidence Rebounds

Posted by Christopher Geehern on Oct 3, 2017 9:05:54 AM

Massachusetts employers are as optimistic as they have been all year about the overall economy and prospects for their own businesses.

BCI.September.2017.jpgThe Associated Industries of Massachusetts Business Confidence Index (BCI) broke a two-month slide in September, rising 1.2 points to 62.4. The reading equaled its high for 2017 and was 6.5 points better than a year ago.

Employer confidence has moved in a narrow range so far in 2017 as employers appear bullish about the growth prospects of their companies. The September uptick was driven in part by a 5.7-point surge in the sales index, which is often a leading indicator of increased business activity.

“The Index was also taken prior to the announcement of an effort by Congressional Republicans and the White House to significantly reduce corporate taxes, a move that enjoys broad support among employers,” said Raymond G. Torto, Chair of AIM's Board of Economic Advisors (BEA) and Lecturer, Harvard Graduate School of Design.

“The prospect of tax reform and tax simplification is likely to buoy employer sentiment through the end of the year.”

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 constituent indicators that make up the overall Business Confidence Index were generally higher during September.

The Massachusetts Index, assessing business conditions within the commonwealth, rose 2.2 points to 65.4, a reading that was 8.4 points higher than in September 2016.

The U.S. Index of national business conditions dropped 0.4 points to 59.8 after surging more than 10 points during the previous 12 months. September marked the 90th 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 1.6 points to 62.9 while the Future Index, measuring expectations for six months out, rose 0.7 points to 61.29 The Future Index ended the month 5.9 points higher than a year ago.

The Company Index, reflecting overall business conditions, gained 1.4 points to 62.3. The employment Index fell 2.2 points to 55.8, continuing an up-and-down pattern within the mid-50s on the 100-point scale.

“The Massachusetts economy continues to maintain a steady recovery, with employers adding 10,800 jobs during August and the state jobless rate declining to 4.2 percent,” said Elmore Alexander, Dean, Ricciardi College of Business, Bridgewater State University, and a BEA member.

“The surge in the AIM Sales and Future indices suggests that business activity may actually accelerate in coming months, so the primary challenge for employers will remain hiring and retaining skilled workers in a tight labor market.”

AIM President and CEO Richard C. Lord, a BEA member, said employers generally support federal initiatives to reduce business taxes, but also remain concerned about the potential effect those reductions might have on the federal deficit.

It is ironic, Lord said, that the proposed Republican tax plan would lower levies for subchapter S corporations and other small pass-through businesses, while Massachusetts voters may be voting on a surtax next year on those same companies.

“Subchapter s corporations and other companies that pay taxes on the individual level are generally small to medium-sized enterprises that form the heart of the Massachusetts economy. What a shame it would be if the federal government were to help these companies while Massachusetts penalizes them,” he said.

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

AbbVie - Employer Remains Determined to Make a Difference

Posted by Christopher Geehern on Oct 2, 2017 3:25:52 PM

Editor's note: The global pharmaceutical company AbbVie will receive a 2017 AIM Next Century Award on Thursday at the association's annual employer celebration from 4:30-6:30 at Mechanics Hall in Worcester. AbbVie's 450,000-square-foot Worcester facility employs approximately 900 employees who primarily focus on immunology drug research, protein engineering, and small-batch manufacturing of biotech drugs for clinical trials.

 

Register for the Worcester Celebration

Topics: Massachusetts employers, Technology, AIM Next Century Award

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

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