Ten things our businesses are worried about

Good morning friends,

Wow. What an amazing — and filling —night!

Our thanks to the 40-plus restaurants and beverage purveyors who pulled out all the stops for Spring Seasonings: A Taste of Our Towns last night.

And thanks to the 600-plus attendees who joined us, our largest crowd ever.

The night would not have been possible without our presenting sponsor The Village Bank, along with NBC10, Boston Showcase, Toast, The Street at Chestnut Hill, Modern Events company and Centre Reality, as well as the team at the Newton Marriott and our many volunteers.

A donation from the proceeds will be made to Three Squares New England, a nonprofit dedicated to fighting food insecurity across Eastern Massachusetts.

And now, back to reality

Back in November, Donald Trump’s election to a second term was welcomed by many of the nation’s top business execs on the expectation of favorable tax policy and relaxed regulations.

You’d be hard pressed to find much exuberance today from small or large employers, as well as those Wall Street titans.

Yesterday, Associated Industries of Massachusetts reported that confidence among Bay State employers has plummeted to its lowest level seen since the summer of 2020.

The summer of 2020, of course, was amid a global pandemic.  

Today’s economic wounds are policy-inflicted. And were entirely avoidable.

What our members are telling us

Late last month, we asked our businesses and nonprofits to rank the external issues most likely to hinder their success in 2025.

Not surprisingly, many cited the same stubborn problems of recent years: Inflation, wages, workforce, energy prices, health insurance and housing.

But nothing loomed larger among survey respondents this year than “uncertainty of federal policy.”

Seventy-one percent of the 209 respondents to our email survey suggested that policies emanating from Washington, D.C., will have a substantial impact on their operations right here in Newton, Needham, Wellesley and Watertown.

The 10 things our members are most worried about

Here are our members’ overall top-10 concerns, as identified in our email survey conducted from March 13 to 26, 2025.

1. Uncertainty of federal policy, including tariffs, loss of federal funding, and immigration
2. Inflation
3. Wages
4. Attracting and retaining workers
5. Cost of health insurance
6. Utility costs
7. Housing supply and affordability
8. Local property taxes
9. Parking
10. Making my workplace more diverse and inclusive

Three specific worries stood out

• As noted last week, tariffs were the single issue that most worried our members (and this was before last week’s more exploitative-than-expected “Liberation Day” rollout). Overall, more than 65% of respondents ranked tariffs as “critical” or “important.”  Among employers with 50 or more workers, 76% said it was “critical” or “important.”
• Loss of federal funding. Nearly 50% of respondents said these policies were “critical” or “important.”
• Immigration policy. Nearly 50% of respondents said new policies were “critical” or “important.”

The word cloud below highlights responses to an open-ended question asking which concerns rose above all others:

We’ll share more from our survey in a future newsletter.

One ‘advisor’ subleases to another

Don’t be confused by the names. They’re not related, but now they’re neighbors, sharing a fitness center, game room, pub and outdoor amphitheater.

Advisor360°, a provider of integrated technology solutions for wealth management, is subleasing two floors (83,516 SF) from Tripadvisor, at 400 First Avenue in Needham

The company moved its corporate headquarters to Needham from Weston and reportedly has around 600 employees across five continents.

"Our new headquarters is designed to bring our teams together in a dynamic, collaborative space where they can thrive and do their best work," said Mike Fanning, CEO of Advisor360°.

Tuesday grab bag

• Polls are open until 8 p.m. tonight for Needham’s annual town election and the results should be fascinating. There are hotly contested races for select board, school committee, planning board, housing authority and town meeting.
• Today is the day that we resume making meal deliveries to food pantries through Nourishing Newton, our program which supports both our local independent restaurants and those facing food insecurity in collaboration with the Newton Rotary, with support from Sen. Cindy Creem.
• The Mosesian Center for the Arts’ 20th Anniversary Celebration is set for May 22. The event honors MCA’s past and secures vital funds for the future.
• Enjoy a free Ben & Jerry's ice cream cone, noon- 8 p.m. today, at Arsenal Yards.
• Here’s what to expect if placed in secondary inspection by Customs and Border Patrol at the airport. (Iandoli Desai & Cronin P.C.)
• The Mass Cultural Council is offering grants up to $20,000 for projects that collect, interpret and/or share narratives about the commonwealth, with an emphasis on the voices and experiences that have gone unrecognized, or have been excluded from public conversation. This year, the theme focuses on the legacies of the American Revolution. Deadline June 9.
• Newton native Jeremy Lewin has terminated approximately 60 of the last remaining lifesaving humanitarian programs in the Middle East in his role as head of USAID. (AP)
• The Needham Human Rights Committee has issued a statement in support of diversity, equity, and inclusion—and against all forms of discrimination.
• Last reminder: Our 2025 high school senior scholarship deadline is Thurs. (April 10).

Turning heartbreak into good

Finally this morning, back in 2022, the lives of Newton residents Darry Settles, Dr. Lisa Owens and Taylor Settles were forever changed by the unimaginable loss of their beloved son and brother, Preston Settles.

Preston passed away at just 15 years old due to a sudden cardiac arrest caused by hypertrophic cardiomyopathy (HCM) while playing basketball.

HCM is the leading cause of sudden death among young athletes, representing nearly one-third of all athletic field deaths in the U.S.

As we’ve already witnessed many times from this remarkable family, their commitment to turning heartbreak into good is unlimited.

On June 11, Preston’s family will be hosting PS3 Casino Night at The Cyclorama in Boston. The event features a Dinner Dine-Around with Lydia Shire and Daniel Bruce, casino games, live auction, performances and special guests.

Net proceeds support life-saving initiatives, ensuring that every public sporting event in Massachusetts is equipped with an Automated External Defibrillator and trained and identifiable personnel to act in emergencies.

Learn how you can help.

And that’s what you need to know for today, unless you need to know why you should actually look under the bed if your child says there’s a monster under there.

Keep reminding yourself: We need this rain.

Greg Reibman (he, him)

President & CEO

Charles River Regional Chamber

617.244.1688

Max Woolf contributed to this newsletter.