BUSINESS BRIEFS: Escape into Fiction Escaping, Dress Code Dropped, and more

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One Down, One Possibly Heading Out

Recently, Dress Code, a boutique that specialized in women’s clothing, announced its plans to close and, indeed, as of a few days ago, the site seems to be completely empty. Also talked much talked about is Escape into Fiction, the much-appreciated local bookstore on Main Street (pictured above). Proprietor April Rock wants to follow her family back to Ohio and hopes to find a buyer for the business.

Business Confidence Retreats in March

Massachusetts employers are still not persuaded that the economy is fully healthy. The Associated Industries of Massachusetts Business Confidence Index (BCI) lost 2.3 points to 52.2 last month, breaking a three-month string of increases. The reading remained within optimistic territory and was 0.7 point higher than it was in March 2023. Survey participants cited concerns about high interest rates, rising labor costs, inflation and softening demand as the state economy slowed to a 3.0 percent annualized growth rate in the fourth quarter of 2023. Inflation as measured by the personal consumption expenditures price index is now running at 2.5 percent, within sight of the Federal Reserve’s 2 percent target. “The Fed has signaled that it expects to reduce its key interest rate three times during 2024 despite stronger-than-expected price increases during January and February. Financial markets have already priced in the three rate cuts, which should help the economy as we move through the year,” said Sara Johnson, Chair of the AIM Board of Economic Advisors. The AIM Index, based on a survey of more than 140 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. Employers who took part in the March survey expressed uncertainty about the overall economy and their own business prospects.

Community Health System Wins AIM Vision Award

Sturdy Health and its 110-year-old community hospital, Sturdy Memorial Hospital in Attleboro, have been awarded the 2024 Associated Industries of Massachusetts (AIM) Vision Award for their history of providing high-quality health care and economic benefit to the people of Southeastern Massachusetts. Aimee Brewer, President and Chief Executive Officer of Sturdy Health, will accept the award before hundreds of business leaders at the AIM Annual Meeting in Cambridge on May 10. The AIM Vision Award recognizes companies, organizations and individuals who have made unique contributions to the cause of economic opportunity in Massachusetts.

PCI Announces Expansion of Mail Presort Operations in Indiana

Florida-based Postal Center International (PCI), an industry leader in mail, has announced a significant expansion of its mail presort operations to Indianapolis to serve the Midwest mailing community, highlighting its dedication to growth and the provision of superior mail solutions to the region. This expansion comes on the heels of PCI’s successful opening of a presort mail facility in Franklin in January 2023, which increased the company’s workforce to over 550 associates. The Midwest expansion is poised to further bolster PCI’s operational capabilities and workforce.

Nine & Dine Tournament Information

Enjoy nine, quick-paced holes on the links, topped off with a delicious Italian dinner. Lots of fun in store on and off the course! If you love to play but don’t have time for 18 holes – then be sure to tee it up at the TC Regional Chambers Nine & Dine Golf event! Tournament is open to 72 golfers. Fee includes golf, cart, and an Italian dinner, plus, prizes for closest to the pin and longest drive. More information here.