In case you couldn’t make our October 15 Rise & Shine Breakfast, here’s what you missed.  
 
We welcomed business leaders to the Marriott Springfield Downtown for a timely conversation with Doug Howgate, President of the Mass Taxpayers Foundation, on the Commonwealth’s fiscal outlook and the economic conditions affecting businesses across Massachusetts.

The message throughout the morning was clear: while recent data provides some reason for optimism, Massachusetts continues to face longer-term challenges around fiscal stability and affordability. And for Western Massachusetts, statewide averages do not always tell the full story.

Encouraging Signs, With Reasons for Caution

Howgate pointed to recent growth in income withholding and sales tax collections, along with modest improvement in private employment, as encouraging signs.

However, he cautioned against drawing broad conclusions from only a few months of data. Massachusetts continues to face longer-term employment challenges, while state spending has grown faster than recurring revenue.

Even though the Commonwealth has significantly increased its rainy-day reserves since the pandemic and is not facing an immediate budget crisis, Howgate emphasized the importance of looking beyond a balanced budget today and considering how sustainable that spending will be if economic conditions change.

Affordability Is Central to Competitiveness

A major theme of the discussion was affordability and its connection to Massachusetts’ ability to compete.

The Commonwealth continues to benefit from a highly educated workforce and its ability to attract investment, but high costs increasingly affect where people choose to live and where businesses decide to grow. For employers, those pressures show up in everything from operating costs to the ability to attract and retain workers.

The conversation also demonstrated why those challenges need to be viewed through a regional lens. In Springfield, for example, lower rents do not necessarily mean housing is more affordable. Household incomes are lower and can consume a significantly larger amount of the resident’s income than it does elsewhere in the state.

At the same time, Howgate highlighted Western Massachusetts’ larger share of young people as an opportunity. Connecting that next generation with education and employment will be important to building the region’s future workforce.

The Takeaway: Statewide Trends Have Local Consequences

For Western Massachusetts businesses, one of the morning’s biggest takeaways was the importance of looking beyond statewide numbers.

Economic conditions, state fiscal decisions, and affordability pressures ultimately reach employers here in the Pioneer Valley. Audience questions about rising healthcare premiums and local aid reinforced just how closely public policy and the everyday cost of doing business are connected.

That connection is also central to the Chamber’s legislative advocacy. Through the work of our members and Legislative Steering Committee, we continue to bring the perspective of the Western Massachusetts business community into conversations about the policies affecting our region.

Thank you to Doug Howgate for sharing his perspective, to our sponsors for supporting the morning, and to everyone who joined us for the conversation.

To review Doug's presentation slides, you can view them here. 
Relive some of the morning's best moments through our photos here.

Don’t Miss What’s Next

Next up, join us for the 2026 Super 60 Awards on Friday, November 6, at the MassMutual Center as we celebrate the businesses and nonprofits making an impact across Western Massachusetts.

Then, on Wednesday, November 18, join us for Giving Thanks for the Good: From the Field to the Future at the Marriott Springfield Downtown and hear how Central High School’s football program is helping create opportunities for Springfield’s next generation.

Reserve Your Seat for Super 60

Register for From the Field to the Future