COVID Economy

Read Pioneer Institute's public statement about Gov. Charlie Baker's new executive orders related to the state’s reopening plan that will go into effect on Nov. 6, issued in response to a significant uptick in COVID infections in Massachusetts,

As the initial economic recovery from the COVID-19 pandemic has slowed, a new study from Pioneer Institute finds that governments must continue to provide short-term relief to stabilize small businesses as they simultaneously consider longer-term reforms to hasten and bolster recovery – all while facing a need to shore up public sector revenues.

Since March, lockdowns and safety regulations from the Covid-19 pandemic have dramatically affected the Accommodation and Food Services industry. The sector is predicted to lose at least 2.1 billion dollars in Massachusetts before recovering. These losses affect individuals, businesses, and Massachusetts’ economy as a whole. 

[av_table purpose=’tabular’ pricing_table_design=’avia_pricing_default’ pricing_hidden_cells=” caption=” responsive_styling=’avia_responsive_table’ id=” custom_class=” av_uid=’av-dqc63k5′] [av_row row_style=’avia-heading-row’ av_uid=’av-d9jkeqt’][av_cell col_style=” av_uid=’av-ckf2oit’][/av_cell][av_cell col_style=” av_uid=’av-c2stls5′]Large Businesses (Over $150k Loan)[/av_cell][av_cell col_style=” av_uid=’av-bm5edxh’]Small Businesses (Under $150k Loan)[/av_cell][/av_row] [av_row row_style=” av_uid=’av-b65m2sl’][av_cell col_style=” av_uid=’av-awplf7p’]Small Businesses (Under $150k Loan)[/av_cell][av_cell col_style=” av_uid=’av-10y9gqt’]18,177[/av_cell][av_cell col_style=” av_uid=’av-9u6jv6t’]94,774[/av_cell][/av_row] [av_row row_style=” av_uid=’av-9ekr8rp’][av_cell...

The coronavirus has wreaked havoc on all parts of the economy, including small businesses. As part of the $2.2 Trillion CARES Act, Congress created the Paycheck Protection Program (PPP) with the explicit intent of helping small businesses survive the tumult of the...

Following the July 16th release of the June Retail Sales Report that detailed a more than 17% jump in total retail sales in the U.S. from April to May and an additional 6.4% jump in June, many Americans may assume that brighter...

A new guide to economic recovery in the retail and hospitality industries published by Pioneer Institute calls for the federal and state governments to consider consumption-based refundable tax credits for brick and mortar businesses; the federal government to conduct a detailed study of the costs and benefits of suspending employer-side payroll taxes; businesses to pay special attention to developing and marketing their cleanliness, hygiene and contactless procedures; and third-party customer review sites to include comments about the implementation of COVID safety measures to provide options and reassurance to safety-minded consumers

To advance transparency regarding public funds, Pioneer Institute developed this Paycheck Protection Plan Loan Tracker. This web tool allows you to track PPP loans by recipient, lender, location, industry, and loan range. According to this data, from the Small Business Administration, 18,177 Massachusetts small businesses received PPP loans, which the companies claim retained 738,613 jobs.

One UMass System, Different Reopening Plans On March 11, UMass President Marty Meehan made the decision to shift all five UMass campuses to online instruction for the remainder of the semester. This decision was echoed by many other universities across Massachusetts and...

“This couldn’t come at a worse time,” said rep. Bill Keating while discussing COVID-19’s effect on Cape Cod’s summer season. Every year, the Cape and Islands draw people from around the country to their beaches and historic communities. Tourists, celebrities, and even...