BUSINESS BRIEFS: Biz Confidence, DBAs, ISO Power Shortfall, Rent Control

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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

Business Confidence Flat in June

Business confidence remained flat during June amid a resilient economy, stubborn inflation, a pause by the Federal Reserve and a shortage of workers across almost every industry.

The Associated Industries of Massachusetts Business Confidence Index (BCI) gained 0.1 point to 49.7, just below the 50 mark that separates optimistic from pessimistic outlooks. Confidence ended the month 1.1 points lower than a year earlier.

The mixed reading reflects an economy that continues to defy expectations in the face of 10 interest-rate increases by the Federal Reserve. The Fed paused rate increases last month as inflation moderated to 4 percent, but more hikes are likely since the Fed’s target inflation rate is 2 percent.

Though many national economists believe a recession remains probable, the Massachusetts job market remains strong with the unemployment rate dropping to 2.8 percent in May.

June DBA Filings for Franklin

Information courtesy of Franklin Town Clerk Nancy Danello

ISO-NE successfully manages through July 5 capacity deficiency

ISO New England system operators utilized actions from a well-established operating procedure to balance supply and demand on the regional power system during a capacity deficiency in the evening peak hours of July 5, 2023. Shortly after 6 p.m., a transmission equipment failure significantly reduced imported electricity coming to New England. At the same time, consumer demand for electricity was slightly higher than expected. This combination left the region short of the resources required to meet consumer demand and required operating reserves. To mitigate this situation, system operators implemented Actions 1 and 2 under Operating Procedure No. 4, or OP-4, utilizing a portion of the region’s operating reserves and declaring an Energy Emergency Alert (EEA) Level 1, the lowest of three alert levels. The capacity deficiency was mitigated within 30 minutes, and the region remained in OP-4 for 3.5 hours as peak demand receded and the power system returned to normal operations. To prevent going in and out of OP-4, operators can remain in the procedure until they are confident the issues on the system have been resolved.

MassFiscal Calls on Housing Committee to Reject Boston Rent Control Bill

BOSTON – Following news that the Joint Committee on Housing is waiting until the fall to consider the City of Boston’s proposal to allow the reestablishment of rent control in Massachusetts, the Massachusetts Fiscal Alliance has called on the legislature to reject the bill. “Just because 12 Boston politicians want to take control of private property that doesn’t belong to them doesn’t mean we should undo the will of the voters and let them reestablish rent control. We’ve been down this road before, and we know from that experience that it doesn’t work. Massachusetts is at a crossroads right now regarding our future and our competitiveness in our national economy. The Boston City Council’s passage of the rent control bill sent a clear message that the City is no longer open for the business and investment that has fueled its renaissance over the last three decades. The legislature needs to send a firm message that this is not the case for the rest of the Commonwealth and that people that want to live, work, invest, or retire here have nothing to fear,” noted Paul D. Craney, spokesman for the Alliance.