AGP Executive Report

Utility Costs: Gov. Maura Healey is pressing National Grid, Eversource and Unitil to issue refunds early after regulators found customers were overcharged through transmission rates. Separately, a five-year billing error added $6.74 a month to some Massachusetts power bills. Business Rules: State Auditor Diana DiZoglio says liquor-license caps artificially restrict supply in many communities and is calling for their repeal, a change that could ease costs for restaurants. Development Pushback: Westfield has moved to block a major data center project, while Westborough residents and federal lawmakers are challenging Amazon’s planned delivery-drone operations. Jobs and Investment: Hasbro’s move to Boston will affect 587 Pawtucket positions, with workers given the option to relocate. In Pittsfield, AccessPlus has launched affordable fiber service at Hearthway Properties. Commercial Property: A Boston parking garage described as once the world’s largest sold at a 45% discount, underscoring pressure in the city’s property market. Local Development: Brookfield has broken ground on a public market at the former Boston Store site.

Data Center Pushback: Westfield’s planning board unanimously rejected a permit extension for a proposed $4 billion data center, citing concerns including water and air impacts; the developer could try again after a city moratorium expires. Amazon Drones: Massachusetts lawmakers are urging Amazon and federal regulators to study noise and safety risks from planned Westborough drone deliveries. Jobs and Growth: Hasbro’s planned 2027 move to Boston puts nearly 600 Pawtucket jobs in question, with workers told to accept relocation or risk losing their positions. Household Costs: Gov. Maura Healey is pressing utilities to speed up customer refunds and announced new winter energy-bill relief as fuel costs rise. Business Rules: State Auditor Diana DiZoglio is renewing calls to loosen liquor-license caps, saying the current system can block smaller and new businesses. Voters will also consider proposals affecting state tax refunds and homebuilding on smaller lots.

Workforce: Hasbro has notified Rhode Island that 587 Pawtucket employees face a choice: relocate to the company’s Boston headquarters in January or risk losing their jobs. Drone Deliveries: Four Massachusetts lawmakers are urging Amazon and the FAA to delay planned MetroWest drone deliveries until there’s more study and public input. Amazon aims to launch from Westborough by year-end. Energy Costs: Gov. Maura Healey wants utilities to issue $1.5 billion in New England customer refunds now, rather than wait until May, and has also announced new winter bill relief. Inflation and Rates: U.S. inflation rose to 3.7% in September as gas prices jumped 9.1%. Boston Fed President Susan Collins said another rate hike may be needed before year-end, while Fed Vice Chair Michelle Bowman urged a wait-and-see approach.

Biotech Funding: Boston-based Soufflé Therapeutics raised an oversubscribed $135 million Series B to move three RNA-therapy programs toward clinical studies and advance its pipeline. Business Regulation: State Auditor Diana DiZoglio urged Massachusetts to end liquor-license quotas, saying the system can price out operators; the report estimates reform could mean nearly 500 more restaurants and 9,500 jobs. Tech Jobs: Cambridge-based HubSpot is cutting nearly 660 jobs, about 7% of its workforce, as it reorganizes around AI. Cofounder Dharmesh Shah apologized for an initially terse message to departing employees. Corporate Relocation: Hasbro’s move from Pawtucket to Boston could affect 587 positions; employees have been offered the chance to transfer. Interest Rates: Boston Fed President Susan Collins says another rate hike remains possible before year-end, a concern for businesses and borrowers.

AI & Technology: Waltham-based Rocket Software acquired Geniez AI to speed development of AI tools for managing and modernizing mainframe systems. Boston’s ZoomRx also launched an AI platform for testing pharmaceutical marketing materials. Business Climate: A new Massachusetts Taxpayers Foundation report says the state remains strong in education, health care, wages and venture capital, but lags on job growth and faces high housing, energy and business costs. Biotech: Boston-linked Sitryx Therapeutics reported positive early results for an oral treatment for atopic dermatitis, with Phase 2 studies planned for 2027. Labor: About 4,000 Brigham and Women’s nurses postponed a planned strike and will vote on the hospital’s latest contract offer. Household Finance: BankFive plans interest-free loans for Massachusetts home energy upgrades.

Rail and Regional Growth: A new MassDOT-CSX agreement puts the Berkshire Flyer closer to permanent seasonal service, backed by $31 million for track upgrades in Pittsfield. Franklin County communities are also set to receive $16.6 million in state growth grants, including nearly $500,000 for downtown projects in Athol. Business Leadership: Burlington-based medical robotics company Myomo named Katie McClure chief commercial officer, bringing in an executive with experience scaling medical-device sales. Boston Real Estate: Amazon’s plan to sublease Seaport office space adds pressure to Boston’s struggling office market, while the city has opened a hearing on how it sets residential tax assessments. Household Costs: Massachusetts Connector customers face double-digit premium increases and dropped plans, adding to winter cost concerns as state officials shift clean-energy funds to help households with heating bills.

Health-Care Costs: Massachusetts Connector users face double-digit premium hikes and dropped plans, adding pressure on household budgets. Startup Funding: Cambridge-based Ashvin raised $16.5 million to automate durable-medical-equipment orders, with plans to expand into prior authorizations. Boston Business: Health-software firm MindSea is expanding its Boston office and hired a chief medical officer to support growth. Restaurant Strategy: Some restaurants are turning to private events for steadier cash flow as staffing and food costs fluctuate. Regional Deal: Watsco completed its acquisition of The Granite Group, a $500 million plumbing and HVAC distributor serving Massachusetts and six other Northeast states. Tech and Trade: Andover-based Vicor’s patent complaint has prompted a U.S. trade investigation into power-delivery systems and computing equipment from nine companies.

Hospital Labor: Brigham nurses postponed a planned strike and will vote on the hospital’s offer, keeping negotiations over pay and working conditions in focus at one of Massachusetts’ largest employers. AI and Investment: Wales’ enterprise minister is in Boston meeting investors and companies, including Sublime Systems and Microchip Technology, to attract AI and technology investment. Massachusetts power-grid startup VEIR also raised $110 million to scale systems aimed at data-center demand. Commercial Property: An investment firm based in Bahrain bought five Central Massachusetts industrial sites for $42.7 million, while Amazon’s plan to sublease its Seaport building adds pressure to Boston’s office market. Transit: Boston plans five free neighborhood bus routes, connecting residents with transit, jobs and local businesses using about $11.5 million in federal funding.

Energy and Politics: Eversource employees and lobbyists donated to Gov. Maura Healey before she urged a faster federal review of a gas-pipeline expansion. Healey’s campaign says the contributions did not affect her position. Banking: TCB is finalizing a merger with Connecticut’s Ion Bank, a cross-state deal to watch for local customers and businesses. Investment: Massachusetts nominated 104 areas, from Kendall Square to Chelsea, for federal Opportunity Zones 2.0, which could offer tax incentives for investment if approved. Housing Costs: High prices and uncertain permitting continue to hold back development, even where zoning allows new homes—a challenge for employers trying to attract workers. Corporate Moves: Uber’s planned $2.3 billion acquisition of Boston catering company ezCater and Gillette’s $1.5 billion investment in its Boston headquarters and Andover plant are major bets on the region.

Health-Care Labor: Boston Medical Center nurses ratified a three-year contract, averting a strike. Brigham and Women’s is preparing for a possible walkout by nearly 4,000 nurses as talks remain unresolved. Research and Hiring: Federal investigators are probing J-1 visa practices at nine universities, including Harvard and MIT, raising scrutiny of a visa program used by research institutions. Costs and Politics: Gov. Maura Healey and challenger Mike Minogue clashed over responsibility for Massachusetts’ high costs in their latest debate. Business Deals: Uber is acquiring Boston-based catering platform ezCater for $2.3 billion. A Bahrain-based investment firm bought five Central Massachusetts industrial properties for $42.7 million. Industry Investment: Gillette plans to invest $1.5 billion in its Boston headquarters and Andover plant, while Schneider Electric agreed to acquire Boston-based PTC for $22.6 billion.

Hiring and Innovation: GE Vernova plans to double hiring from MIT, targeting 160 interns and full-time employees after bringing on 80 last year. The company’s five-year alliance with MIT includes $50 million for research and internships. Economic Debate: Gov. Maura Healey and challenger Mike Minogue clashed over Massachusetts’ high costs and weak job growth; a new report also ranked the state poorly on jobs and affordability. Industrial Investment: An investment firm based in Bahrain bought five Central Massachusetts industrial sites for $42.7 million. Life Sciences: The Massachusetts Life Sciences Center is offering grants to help medtech companies reduce the risk of bringing products to market.

Market Movers: Moderna shares jumped 13% Friday after the Massachusetts biotech rejoined the Nasdaq 100, a change that can bring buying from funds tracking the index. Industrial Real Estate: Bahrain-based Investcorp bought five sites in Westborough and Franklin for $42.7 million, part of a broader Massachusetts portfolio deal. Business Costs: In their first debate, Gov. Maura Healey and challenger Mike Minogue sparred over affordability, taxes and jobs as a state competitiveness report flagged high energy, housing and child-care costs. Major Deals: Uber agreed to acquire Boston catering platform ezCater for $2.3 billion, while French energy-management company Schneider Electric is set to buy Boston-based software firm PTC for $22.6 billion. Life Sciences: AstraZeneca plans to invest more than $1 billion in Massachusetts and expand its workforce, adding to the state’s research and development momentum.

Energy Costs: Gov. Maura Healey announced winter energy-bill relief for Massachusetts families, shifting clean-energy funds to help with heating costs as the state backs a natural-gas pipeline expansion. Biotech Finance: Cambridge-based City Therapeutics is seeking to raise about $175 million in a Nasdaq IPO to advance its RNA-based drug candidates. Boston Real Estate: Developers secured $44 million in financing for 31 Milk St., while Workbar plans to expand its Back Bay location; an Amazon sublease adds to pressure on the Seaport office market. Corporate Moves: Boston Scientific named Joseph Fitzgerald its next COO as it reorganizes business segments. Investment: AstraZeneca plans to invest more than $1 billion in Massachusetts and expand its workforce, while Gillette is investing $1.5 billion in its Boston headquarters and Andover plant. Governor’s Race: Healey and challenger Mike Minogue clashed over taxes, spending and affordability in their first debate.

Local Development: Reading won a $500,000 state grant to redesign Walkers Brook Drive, supporting plans for a mixed-use district with new housing and commercial space. Boston Business: Uber is acquiring Boston catering platform ezCater for $2.3 billion, a major deal for the region’s tech and food-service sectors. Robotics: Boston Dynamics named former Amazon AI executive Rohit Prasad CEO as it pushes further into AI-powered robotics. Investment: AstraZeneca plans to invest more than $1 billion in Massachusetts, while Gillette announced $1.5 billion in spending at its Boston headquarters and Andover plant. Thermo Fisher is also adding sterile drug-product and bioprocessing lines at a Massachusetts site. Economic Outlook: Massachusetts business confidence improved in September but remained negative, with job growth and high energy costs among the state’s ongoing challenges.

State Investment: Gov. Maura Healey announced $103 million in grants for 81 housing and economic-development projects across 37 communities, including road and development work in Woburn and Burlington. Office Market: Amazon is subleasing space in its Seaport building, adding pressure to Boston’s struggling office market. Big Deals: Uber agreed to buy Boston-based ezCater for $2.3 billion, while Schneider Electric’s $22.6 billion acquisition of Boston-based PTC marks another major corporate shift. Robotics: Boston Dynamics named former Amazon AI executive Rohit Prasad CEO as it ramps up its humanoid-robot push. Manufacturing: Gillette plans to invest $1.5 billion in its Boston headquarters and Andover plant, a major commitment to its Massachusetts operations.

Boston Business Moves: Boston Dynamics named former Amazon AI leader Rohit Prasad CEO as it steps up its “physical AI” strategy. Amazon, meanwhile, is subleasing 375,000 square feet in the Seaport, while Life Time plans a 45,000-square-foot waterfront club expected to employ about 150 people. Deals and Investment: Uber agreed to buy Boston-based ezCater for $2.3 billion, and Schneider Electric struck a $22.6 billion deal for Boston’s PTC. Gillette plans to invest $1.5 billion in its Boston headquarters and Andover plant; AstraZeneca opened a new $1 billion research center in Cambridge. Jobs and Growth: HubSpot plans to cut 660 jobs, and biotech layoffs topped 440 Massachusetts workers in the third quarter. The state is putting $330 million toward 403 projects intended to help spur 27,000 homes. Energy Costs: Gov. Maura Healey declared an energy emergency and proposed $680 checks for eligible households as winter heating bills climb.