General Boston Discussion

[themissinglink]

Boston’s economy is among the strongest in the US, rating agencies say, despite looming uncertainties - The Boston Globe

Despite threats both to the value of downtown office towers and to federal research funding that flows through the city, Boston’s economy is among the strongest in the country, two premier credit rating agencies said.

www.bostonglobe.com

For the 12th consecutive year, Boston has maintained AAA bond ratings from both Moody’s Ratings and S&P Global Ratings — an achievement Chief Financial Officer Ashley Groffenberger likened to winning the “finance Super Bowl.”
[...]
Moody’s noted Boston’s “sound fiscal management” and economic resilience, driven by a diverse mix of industries and anchored by word-renowned health care and educational institutions. However, analysts noted, uncertainty regarding tariffs, immigration, and cuts to the National Institutes of Health funding and other federal support for research and education could lead to higher unemployment, slower economic growth, and demographic shifts.

 

[themissinglink]

Meet Boston has $30 million to boost tourism. Is buying Michelin stars really the best way to spend it? - The Boston Globe

The region’s tourism bureau is paying to have Michelin secretly evaluate restaurants here, but some think that money might be better spent on more local fare.

www.bostonglobe.com

The reason Meet Boston can even do this is because the not-for-profit organization has a gusher of money flowing from a three-year-old surcharge on hotel rooms in Boston and Cambridge that generates tens of millions of dollars a year to boost tourism.
So what’s the best way to spend that money?
Some would like the agency to invest more in homegrown grassroots festivals and programming to develop the next wave of signature events that draw visitors from all over New England and beyond. Think the next generation of the Boston Pops Fireworks Spectacular, Boston Calling, and First Night.

 

[stick n move]

Proceeds from ‘millionaires tax’ are through the roof, according to state projections​

“The “millionaires tax,” which went into effect two years ago, is expected to generate billions.

State officials announced Tuesday in a letterthat the surtax on high earners has generated more than $2.6 billion in revenue this fiscal year, with two months left.

The money will give state officials billions to spend on transportation and education initiatives. Any additional money raised beyond the $1 billion already budgeted would go to a reserve account, where state policymakers can ask for one-time investments in projects or programs…..”

Proceeds from 'millionaires tax' are through the roof, according to state projections

The “millionaires tax,” which went into effect two years ago, is expected to generate $2.6 billion for education and transit.

www.boston.com

 

[stick n move]

-Not good

‘Still in a housing crunch’: Greater Boston’s slowdown in new home construction continues​

“The past two years have seen a slowdown in housing production in Greater Boston, as the number of new homes permitted has plummeted due to economic constraints.
Now, it may be getting worse.
In its quarterly report issued this month, the real estate firm Colliers said the share of housing inventory under construction in the region fell to a 10-year low in the first quarter of 2025. That means very little housing is being built, in comparison to the typical pace over the last decade.

It’s a sign that Greater Boston’s multi-year slowdown in permitting of new apartment projects is beginning to show in the number of projects that are actually underway or finishing construction.
“All of the economic factors that have slowed construction over the last two years are still impacting the market,” said Jeff Myers, research director at Colliers. “And while none of this is necessarily new at this point, all of those things are compounding, and we’re seeing fewer projects getting to the point of breaking ground.”

‘Still in a housing crunch’: Greater Boston’s slowdown in new home construction continues - The Boston Globe

A report this month shows the share of housing inventory under construction fell to a 10-year low in the first quarter of 2025.

www.bostonglobe.com

Contractors face the end of the Mass. building boom​

The number of big new projects in the works around the city has dwindled​

“The state's largest general contractors have completed several large projects in the Boston area. Shown is the South Station Tower in Boston, built by Suffolk.”

“General contractors had a strong run in the Boston area with a number of major projects in recent years. That’s coming to an end.”

https://www.bizjournals.com/boston/news/2025/05/30/largest-massachusetts-general-contractors.html

 

[Charlie_mta]

Great shot of the new Jefferson Park construction.