Newton’s ‘hiring crisis’ weighs heavily on our local businesses

Newton’s ‘hiring crisis’ weighs heavily on our local businesses

by | Jan 10, 2019 | Business, Chamber of Commerce, development, economic development, Newton TAB | 45 comments

Here’s a column I wrote for the TAB about how a very tight labor marking may impact Newton businesses in 2019. And here’s one excerpt…

The good news is local business is booming. Generally speaking, our merchants, restaurants owners and many other businesses operating in our village centers and commercial districts report that 2018 was a good year.

The bad news is that an alarmingly large number of those same employers say their ability to be successful in 2019 will largely hinge — not on their ability to attract enough customers — but their ability to find enough employees.

Pot shop ban would cost city lost tax revenue

by | Oct 9, 2018 | Chamber of Commerce, recreational marijuana, taxes | 134 comments

Here’s Greg Reibman’s column about the potential fiscal impact of a proposed ban on recreational marijuana stores here, as it appears on the Newton-Needham Regional Chamber’s website. 

A ballot referendum that would ban the sale of adult-use recreational marijuana in Newton would result in the loss of millions of dollars annually in local tax revenue, according to city projections.

Given the nascent nature of the marijuana industry, it is difficult to pinpoint exactly how much revenue could be on the table. However, the revenue from a three percent local recreational marijuana tax and up to three percent in local host agreements could yield over $2 million and perhaps more, said Jonathan Yeo, chief operating officer for the City of Newton.

“These new dollars could potentially equal or exceed the [$1.95 million] Newton now collects annually from the local meals taxes from 400 restaurants,” Yeo said.