canada africa partner reservation COMPANY INFORMATION: Slipping Biz Confidence, Waters GTXResolve and more

COMPANY INFORMATION: Slipping Biz Confidence, Waters GTXResolve and more

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SPONSOR OF Business short messages 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

Business confidence is declining again

Business confidence fell slightly in Massachusetts last month as employers came under pressure from rising costs, shrinking profits and a slowing economy. The Associated Industries of Massachusetts Business Confidence Index (BCI) lost 0.3 point to 51.9 in April, its second consecutive monthly decline. The reading remained marginally within optimistic territory and was 0.8 point higher than in April 2023.

Survey participants cited concerns about high interest rates, rising labor costs, inflation and declining demand, as the national economy slowed to an annualized growth rate of 1.6 percent in the first quarter. Inflation remains above the Federal Reserve’s annual target of 2.0 percent, and the Fed suggested last week that reducing inflation “would take longer than previously expected.”

“Both employers and consumers face persistent inflation and slowing economic activity, leading to increased caution. The good news is that real private consumption and investment have continued to rise, while the labor market has become better balanced,” said Sara Johnson, chair of the AIM Board of Economic Advisors.

The AIM Index, based on a survey of more than 140 employers in Massachusetts, has been published monthly since July 1991. The index is calculated on a scale of 100 points, with 50 being neutral; a value above 50 is positive, while below 50 is negative. The Index reached its all-time high of 68.5 twice in 1997-1998, and its all-time low of 33.3 in February 2009.

Employers who took part in the April survey expressed concerns about the overall economy and their own business prospects.

“Labor costs, material costs and energy costs have all increased and while our competitors are also seeing higher material costs, our labor and energy costs are generally higher due to the state in which we live. We can rarely pass these costs on to our customers without losing market share,” one company wrote.

Waters has new GTxResolve columns

Waters Corporation (NYSE:WAT) of Milford has introduced new GTxResolve Premier Size Exclusion Chromatography (SEC) 1000Å 3-micron (3 µm) columns. Waters has implemented a unique combination of new packaging materials and MaxPeak™ Premier High-Performance Surface (HPS) technology in the columns to help scientists accelerate the development of gene-based therapies, including cell and gene, mRNA and LNPs.

Waters GTxResolve Premier SEC columns support the growing demand for mRNA, LNP and viral vector-based therapies.

“The pipeline of nucleic acid therapies continues to grow at double-digit rates as developers strive to submit new investigational drugs and complete their first human trials. The new Waters GTxResolve Premier SEC columns support growing demand for mRNA, lipid nanoparticles and viral vector-based column therapies that are more robust and offer higher efficiency,” said Erin Chambers, Vice President, Consumables and Lab Automation, Waters Corporation. “These SEC columns help standardize measurements needed to fulfill biologics license applications, obtain expedited approvals, and establish effective release testing strategies.”

New data exchange to combat unemployment fraud

The U.S. Departments of Labor and Treasury today announced a new data sharing partnership, the latest effort to support a multi-layered approach to fraud prevention by providing states with controls, tools and strategies to identify and prevent unemployment insurance fraud. to fight.

The data sharing partnership provides state unemployment agencies with access to Do Not Pay Working System data resources and services through the UI Integrity Data Hub. Maintained by the National Association of State Workforce Agencies’ UI Integrity Center, the Hub is a centralized, multi-state data matching system used by state unemployment agencies to support fraud prevention and efforts to reduce improper payments.

The Do Not Pay Working System is administered by the Office of Management and Budget and administered by the Bureau of Payment Integrity of the Treasury Bureau of the Fiscal Service. It provides a no-cost service for federal agencies and federally funded, state-administered programs to verify claim eligibility and prevent fraud and improper payments.

Mass DOR is finally having a good month

Massachusetts Department of Revenue (DOR) Commissioner Geoffrey Snyder today announced that preliminary revenue collections for April totaled $6.324 billion, $1.540 billion or 32.2% more than actual collections in April 2023, and $1.034 billion or 19 .5% above the benchmark.(1)

Total collections for FY 2024 totaled approximately $33.857 billion, which is $1.537 billion or 4.8% more than collections in the same period in FY 2023, and $889 million or 2.7% more than the year-to-date benchmark to.

“April collections of non-withheld income tax, withholding tax and sales tax increased compared to April 2023,” Commissioner Snyder said. “These increases were partially offset by reductions in corporate and business taxes and ‘all other’ taxes. The increase in unwithheld income taxes was likely due in large part to the 4% income tax imposed on annual taxable income above $1,000,000 (4% income tax)(2). The income tax and sales tax increases were partly due to typical timing factors in collections. The decrease in corporate and business taxes was due to a decrease in refunds and an unfavorable increase in refunds, partially offset by an increase in estimated payments. The decrease in ‘all other’ taxes is mainly due to a decrease in inheritance taxes, a category that tends to fluctuate.”