Economy

Chaos would probably be a fitting description for the cannabis industry in general during 2023 and don’t expect that chaos to dissipate in 2024.

The reverberations of the coronavirus pandemic’s impact will continue to impact the manufacturing space in 2024, as companies face challenges in adapting to supply chain shortages in certain sectors like pharmaceuticals, worker shortages, increased costs, and changing consumer trends.

In December 2022, the WBJ Editorial staff made 10 bold predictions for news events to happen in Central Massachusetts throughout the year. Turns out, we missed the mark on all but two.

Every December for this Economic Forecast special edition, the journalists in the WBJ newsroom forecast 10 possible news events for the coming year, based on their expertise and the trends in the Central Massachusetts business community.

Looking into 2024, it appears more Central Massachusetts business leaders are feeling positive about the economy than they have in the recent past.

Just over a month after they voted to unionize in November, Hudson school bus drivers and monitors have secured a pay boost and other benefits.

Heading into the start of 2024, the new leader of the Associated Industries of Massachusetts expects staffing challenges to remain the top concern for businesses, while the end of COVID-era federal funding programs will impact margins.

Governor Maura Healey’s Administration issued $19 million this year in funding from the state’s Workforce Training Funding Program through October, a number including more than $3.9 million in support of training for 2,500+ jobs in Central Massachusetts.

While corporate profits have surged to near record levels, operators of prominent small businesses in Worcester have not seen the same growth.

Waters Corp., a Milford-based manufacturer of scientific equipment, has opened a new global capacity center in Bengaluru, India, one of the company’s rapidly growing markets.