Good morning, 

Economic growth in Massachusetts over the past decade has been fueled in large part by its Hispanic and Latino residents.

Latinos now make up 13.5% of the state's population. But their economic contribution far outpaces their share of the population, generating $30 billion in economic growth and accounting for 26% of the state's GDP and 60% of new jobs created from 2014 to 2023, according to a report last year by the Massachusetts Taxpayers Foundation and We Are ALX.

The population penetration across our five Charles River Regional Chamber communities is smaller — about 6% overall, with Wellesley leading at 7.4% —  but growing, according to Census and municipal data.

The Latino population in Newton, for example, has grown by roughly 40% over the past 14 years, from about 3,500 residents (4.1%) in 2010 to nearly 4,900 (5.5%) today.

Brookline's Latino population has been steadily rising since 1990, now accounting for 6.6% of residents.

Which brings us to IMPACTO

Also growing is participation by Latino and Hispanic professionals in our chamber.

Last fall, three of our members — Mónica González, Juan Wulff and Claudia Carroll — approached us about bringing together members who share a Spanish-language background or Latino heritage to build a network that supports professional growth, relationship-building and the sharing of strengths and resources.

The result is IMPACTO, which has been meeting monthly since January with nearly 200 professionals on its listserv.

IMPACTO isn't only about building a Latino professional network. It’s about strengthening the broader regional economy by making sure Latino and Hispanic professionals and entrepreneurs have a seat at the table.

Plus, at a time when some, but not all, in the Latino and Hispanic communities face immigration challenges, its members also want to be there to “help people going through tough challenges,”  says González

We're celebrating IMPACTO on June 22 at 5:30 p.m. at the Needham Homewood Suites.  Joining us for a fireside chat will be Eneida Román, president & CEO of We Are ALX, with lots of time for networking.

As with all IMPACTO events, everyone is welcome — chamber members, Latino and Hispanic professionals, nonprofit leaders, entrepreneurs and community members.

RSVP here.

Want to support this initiative? Email Lise Elcock if your business would like to help underwrite this new affinity group. Learn more here.

NY Times weighs in on our housing ballot questions

This fall, there will likely be two ballot questions about housing before Massachusetts voters.

Both claim to address affordability.

Over the weekend, the editorial board at the New York Times examined both questions (gift link), praising one and warning against the other.

The ballot question editors like is the Legalize Starter Homes Initiative.

The proposal would create opportunities to once again build the kinds of middle-class homes that are quickly becoming extinct by allowing single-family homes on residential lots with at least 5,000 SF, 50 feet of frontage and access to public water and sewer.

Many Massachusetts towns currently require lots of at least 20,000 SF, “which is larger than most midsize supermarkets, like Trader Joe’s,” while only “about one-fifth of homes are built on such large plots” nationwide, the editorial noted.

The Times editors even used Newton as an example, citing a 68-year-old woman who wants to split her 17,400 SF property in two but cannot under current zoning.

“The policy would enable the construction of more homes that young families and other members of the middle class could afford,” they wrote.

On the other hand, the editorial warned, rent control “might sound like a solution, but it would discourage construction and renovations.

“Rent control has not solved the housing problems in New York City, and it will not solve them in Massachusetts. The national pattern is clear.  The way to bring down housing costs is to increase housing supply. The initiative to create a statewide lot-size minimum would help accomplish this.”

Needham board’s good parking idea takes a wrong turn

Needham may finally be ready to tackle one of the quieter yet more consequential barriers to small-business growth: parking minimums.

Consultants from Stantec are nearing completion of a report(Page 29) recommending that the town reduce many of its parking mandates — the rules requiring new development and businesses to provide off-street parking.

Today, if a restaurant, retailer or other business wants to move into a location where the previous tenant had a different parking ratio or use, they’re often asked to jump through a time-consuming waiver process. Owners must hire lawyers, prepare plans and appear before a board — all to prove they can’t create parking where no physical room exists before being granted a waiver.

For these reasons, it was troubling to hear some Needham Planning Board members float the idea of replacing parking waivers with payments to the town instead.

That terrible idea misses the point entirely.

The goal should be to reduce barriers for businesses, not invent new ones. Replacing a burdensome permitting process with a mandatory fee would still make it harder and more expensive to open, expand or invest in Needham.

When Stantec returns with its final recommendations, we hope this idea is not included. The Planning Board should focus on reforms that genuinely make it easier for small businesses to open, grow and succeed.

Tuesday grab bag

• Stephen Spinelli Jr. (in photo) says he will retire as president of Babson College at the end of June 2027.
  
  
• State lawmakers representing Watertown told the City Council last week that they expect a home rule petition that would allow the city to increase property taxes on commercial properties starting July 1 could pass in the next few weeks.  (Watertown News)
  
  
• Today (June 2) is the deadline to nominate an outstanding Brookline business or nonprofit for a Brookline Business Award and join us for our Brookline Night party on June 24.
  
  
• After 30 years in business, Kostas Pizza & Seafood on Chestnut Street in Needham has closed.  In addition to feeding generations, Kostas is also infamous because Tripadvisor started in a tiny office upstairs in  2000.
  
  
• Massachusetts Department of Environmental Protection, in collaboration with Spoonfuls, is looking for input from restaurants/hotels/caterers, venues, etc. about proposed changes to the food waste ban, June 16 at 9 a.m. Details.
  
  
• Mount Auburn Cemetery in Watertown is the first cemetery in the US to switch to all battery-powered equipment. (GBH)
  
  
• The MBTA is seeking public feedback on its proposed Arsenal Street Transit Priority Corridor Project in Watertown, with a second open house on June 14 at the Watertown Free Public Library. The project aims to improve bus service and transit reliability along Arsenal Street. (Watertown News)
  
  
• Gov. Maura Healey has issued new statewide guidance for schools, child care providers, higher ed campuses, health care facilities and places of worship regarding interactions with ICE agents.
  
  
• Newton for Everyone hosts “Good Intentions, Bad Outcomes: Why Newton’s Housing Rules Aren’t Working - and How the City Is Beginning to Fix Them,” June 17, 7 p.m. Details
  
  
• A recent Forbes article covers a new report from the Business for Federal Research Funding Coalition (an alliance of more than 80 chambers of commerce from 36 states, including ours) that documents how the U.S. is losing ground on STEM talent due to funding cuts and uncertainty.
  
  
• Newton North High School alum Ronnie DeVoe, a member of hit-making R&B groups New Edition and Bell Biv DeVoe, was honored by the Newton Public Schools last week. (Fig City News)
  
  
• Brookline.News has a fun story about the family whose triple-decker home has been frequently confused with Brigham and Women’s Hospital.

Which housing reforms would you back?

Finally, an extensive new report from the Greater Boston Chamber finds that Massachusetts renters and homeowners have fewer options and face higher costs than renters and homeowners in the seven states most often considered the Commonwealth’s economic competitors.

The report concludes with a list of 12 policy recommendations, including:

• Allowing multi-family construction by right.
• Capping inclusionary development policies statewide at 10% for ten years.
• Reducing lot sizes for starter homes.
• Creating a 10-year sales tax exemption on construction materials for multi-family housing.
• Pausing the stretch and specialized energy codes for five years, or creating a variance process for key housing developments.
• Mandating state-developed training standards for local planning board members.

The report also opposes statewide rent control and transfer fees.

Check out the full list on page 52 and then tell me which policies you support.

That’s what you need to know for today, unless you need to know the most misspelled word in every U.S. state.

Max Woolf will be here on Friday. 

Greg Reibman (he, him)

President & CEO

Charles River Regional Chamber

617.244.1688

I value your feedback

Max Woolf contributed to today’s newsletter.