BUSINESS BRIEFS: Dean & MBTA, Estate Tax, Downtown Partnership, Amazon vans, Phosphorex CFO and more
SPONSOR OF Business Briefs in the Franklin Observer
The chamber serves the communities of Bellingham, Franklin, Holliston, Hopedale, Hopkinton, Medway, Milford, Mendon, Millis, and Upton. More information is available at https://www.tricountychamberma.org
Above: A recent Dean College blog post highlighted the work of students Shayna Mango, Ryan Bell and Jared Kelly. During the fall semester they took a seven-week special topics course on market survey research in order to conduct survey research to benefit two major organizations in Massachusetts. Patriot Place, in collaboration with the MBTA Commuter Rail, approached Dean College to look for help collecting data from patrons who use the Foxboro MBTA commuter rail station located at Patriot Place. The goal was to gather data on how often the train was used, what people usually used the trains for and how it could be improved. The full story is here.
MassFiscal Hails Healey’s Estate Tax Plan
Gov. Maura Healey has stated that her administration supports lifting the estate tax threshold from $1M to $2M. Massachusetts is only one of only twelve states that still has an estate tax and we currently have the most aggressive estate tax in the country, according to MA Fiscal. “This tweak may bring some temporary relief, but it will not stop the outward migration of taxpayers,” said Paul D. Craney, spokesman for the Massachusetts Fiscal Alliance.
Downtown Partnership General Meeting
The next Franklin Downtown Partnership General Meeting will be held on Thursday, February 2 at 8:30 AM in the Dean College Dr. Paula Rooney Student Center on the second floor in the Golder Room
Real Estate Board Warns on Rent Control
"Rent control is a failed policy solution that won't help the dire need to create housing in Boston and across the Commonwealth. Rent control, also known as rent stabilization, has been shown to decrease housing production of future units, as well as discourage upkeep and maintenance of controlled units,” said the Greater Boston Real Estate Board (GBREB).
“Fair” News for Remodeling Contractors
After several years of double-digit gains, expenditures for improvements and repairs to the owner-occupied housing stock are expected to grow only modestly in 2023, according to the Leading Indicator of Remodeling Activity (LIRA) Leading Indicator of Remodeling Activity (LIRA) released today by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. The LIRA projects a steep deceleration in annual gains of home renovation and maintenance spending from 16.3 percent at the close of 2022 to just 2.6 percent by year-end 2023.
Employees Will Stay – for Cash
Keep Financial just released its Effective Compensation Survey Report which found that 86% of employees would take an extra cash bonus in exchange for time commitment at their company. In addition, of those respondents who receive stock options or other equity, 76% say they would rather receive all or a portion of that equity as cash today in exchange for a time commitment. As companies look beyond traditional compensation for creative ways to recruit and retain employees, survey research shows that cash is preferred these days. When asked how they would use a lump sum cash bonus payment, respondents listed paying off debt (44%), saving for retirement (40%), starting an emergency fund (28%) and saving for a down payment on a home (21%) as the priorities.
This feedback comes at a critical time, as McKinsey found that people are voluntarily leaving their jobs at a 25% higher rate than they were pre-pandemic. Download the full survey report at: keepfinancial.com/effective-compensation-survey-report-2023
Millis-based Kanguru Pitches Defender LifePlanner™
For customers of LastPass, a cloud-based repository for passwords, it has been quite a grueling experience following the troubling breach discovered last month impacting scores of users' personal information, passwords, and other sensitive items along with a substantial aftermath. A proven alternative solution is The Defender LifePlanner™ by Kanguru, a trusted global leader in robust data security products.
To learn more about the Kanguru Defender LifePlanner, please visit the Defender LifePlanner on kanguru.com, or call 1-888-KANGURU. Kanguru is a global leader in manufacturing top-of-the-line, military-grade, data security USB storage products.
SPOTTED: Amazon Rivian Electric Delivery Vehicles
Seen around town recently, Amazon has expanded its fleet and now has more than 1,000 electric delivery vehicles making deliveries in more than 100 cities across the U.S.
Don’t ‘Diss’ In-Demand Professionals
Despite a possible economic slowdown, global unemployment rates remain low and employers still feel the impact of the Great Resignation. It's not easy to win over top talent, especially in high-demand fields. Furthermore, most job candidates are aware of their attractiveness to employers, as 74% of employees around the world are approached multiple times per year about new job opportunities—and 39% of those are approached every month. In addition, 68% of job seekers feel that they are in a strong negotiating position when looking for a job, and 69% of candidates expect prospective employers to demonstrate some openness to negotiating conditions after making an initial offer. Only 14% feel that employers hold the reins in job offer negotiations. Confidence is highest among those who work in finance, business, and sales and lowest among manual workers, nonprofit workers, and volunteers. These are among the findings of a new study released today by Boston Consulting Group (BCG) and The Network, a global alliance of recruitment websites. Titled "What Job Seekers Wish Employers Knew
Hopkinton’s Phosphorex Hires CFO
Phosphorex, an Ampersand Capital Partners company, and drug delivery-focused contract development and manufacturing organization ("CDMO"), announced today the appointment of David Tammaro as Chief Financial Officer. David brings over 15 years of financial leadership experience and will lead all aspects of financial and administrative planning to support and enable the company's high growth plan. Prior to joining Phosphorex, David served as a consultant, working with senior leadership teams on the development and improvement of financial planning & analysis systems and processes, as well as cGMP facility buildouts.
Tech Talk Training for Chamber Members
As an added benefit to Tri-County Chamber membership, the Chamber is offering one-on-one training sessions at the office. Schedule a session if you need help with: Canva, Google Business Profile, Website Design, Search Engine Optimization (SEO), Constant Contact, and Social Media scheduling. Click here to set up your appointment.