Issue link: https://nebusinessmedia.uberflip.com/i/1501858
12 Worcester Business Journal | June 26, 2023 | wbjournal.com Simply Beter. Member FDIC Member DIF FOR ANY SIZE BUSINESS we have you covered We have the lending options, competitive rates and financial solutions to ensure the growth and prosperity of your business, no matter the size. Call one of our experienced commercial lenders at 800-649-3036 or email us at commercial@saversbank.com. saversbank.com F O C U S MIDYEAR ECONOMIC UPDATE Inflation has been a major issue for our economy, as the Federal Reserve has raised interest rates substantially well in 2023, although the Fed has indicated those may stop soon. When do you think inflation will ease substantially? By the third quarter of 2023 9% 11% 59% By midyear- Sometime in the first half of 2024 0% By end of 2023 21% Other Central Massachusetts has long touted itself at the more affordable al- ternative to Greater Boston, especially for companies and industries who could benefit from cheaper real estate prices for large industrial complex- es. This is especially true for the life sciences industry, where research done at company facilities in Kendall Square could be translated to larger facilities further west. In late April, the Cambridge drugmaker Moderna announced plans to invest $300-$400 million in a new Marlborough facility. What role do you expect the life sciences industry to play in the Central Massachusetts economy in the coming years? In April, JetBlue announced it will relaunch its nonstop flight from Worcester Regional Airport to Orlando while starting new direct service to Fort Myers in Florida. At the same time, the airline plans to stop its regular flights to New York City, as other airlines service the same route. Do you think Worcester airport will become more of a transportation hub soon? Yes, I expect more airlines and direct flights by the end of the year. Yes, although it will take significantly more time to develop. No, the airport is basically at its peak for airlines and flights. No, the number of flights will decrease eventually. 5% 56% 31% 8% A bigger role About the same as now A smaller role 66% 30% 4%