Worcester Business Journal

wbjournal.com | June 26, 2023 | Worcester Business Journal 11 A Steady Hand Through Changing Economic Times No matter how much our economy grows, changes, and shifts our commitment to you is always the same. We will provide sound guidance as you navigate your business through our ever changing economy. Whether you are a new or existing client, we'll be quick to respond to your needs with the knowledge necessary to find solutions to all your legal concerns. Our understanding of local and regional markets allows us to assist you with the how, the when, and the why. Regional Real Estate? Our World of Knowledge Can Bridge the Gap Between a Great Idea and a Grand Opening. Knowing the ins and outs of commercial real estate requires not only know-how but also knowing who. Our knowledge of local and regional markets allows us to assist you with the how and the why, the when and where, always with an eye on the time, regardless of the size of your project. Because when you have all of the right information, you're assured of making an enlightened decision. FletcherTilton.com W O R C E S T E R | F R A M I N G H A M | B O S TO N | C A P E CO D | P R OV I D E N C E Mark Donahue Todd Brodeur 508.459.8029 508.459.8083 Karen M. LaFond Commercial Finance 508.459.8015 Joseph T. Bartulis Employment Law 508.459.8214 F or over four decades Kelleher & Sadowsky Associates, Inc. has recognized and believed in the tremendous potential of Worcester, Central Massachusetts, and the MetroWest region. In that time, we've helped hundreds of companies, developers, institutions, investors, government agencies and other market participants meet and exceed their expectations. Along the way we've earned a reputation for honesty, integrity, and unparalleled local knowledge. We are 'bullish' on the Central MA market as we've worked hard to spread the word about everything this area has to offer. Today, our longtime belief in its potential is fast becoming reality. Yet our focus remains unchanged: to be the best possible partner for those exploring or participating in this vibrant real estate market by using our skill and dedication to add value for every client. With our expertise in a full range of properties: office, industrial, distribution/warehouse, biotech, medical, retail, hospitality, multifamily and land, as well as diversified investment opportunities, we continue to provide exceptional service to our clients and customers throughout Worcester, Central Massachusetts and the MetroWest region. Midyear Economic Forecast Sponsor Message James G. Umphrey William D. Kelleher IV Principal Principal MIDYEAR ECONOMIC UPDATE F O C U S Projecting the next six months, do you think you'll have more or fewer employees at the end of 2023 than you had at the start of the year? More employees The same Fewer employees 20% 62% 18% Has your ability to find people with the right skills for any job opening improved since the beginning of the year? We never had any significant issues in finding good applicants with the right skills. 18% 18% 64% Yes, the employment market has loosed some. No, its still as hard as it was heading into 2023. Has your budget, or estimate for your company's performance for 2023, changed now that we're several months into the year? We're running below our expectations. We're performing ahead of expectations. 9% 54% We're performing according to plan. 37% Layoffs had felt like a thing of the past, yet major employers, especially in the tech sector, have been reducing their workforce. Do you anticipate having to make any significant expense cuts in the second half of 2023? Yes 14% No 86%

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