Federal Reserve Bank of Boston President Susan M. Collins recently visited Manchester, New Hampshire, meeting with local business leaders to discuss economic hopes and concerns. The city, known for its vibrant cultural scene, is home to an array of growing companies despite challenges faced by former mill towns trying to reinvent themselves.
Manchester hosts the research and development center of Velcro Companies, a corporation known for its innovative hook and loop fasteners used in various applications. During her visit, Collins toured the manufacturing facility and explored comprehensive production processes. Velcro’s CEO, Gabriella Parisse, emphasized their focus on innovation, stating, “Innovation is everything. All of our customers are looking for innovation.”
Collins participated in three roundtable discussions, where uncertainty dominated the conversation. Mike Skelton, president of the Business and Industry Association of New Hampshire, highlighted the impact of changes in U.S. trade and tariff policies on the business community. He expressed concerns about how these factors might affect small business decisions moving forward, remarking, “It’s going to be a lot of those small decisions around hiring or expansions or new projects that could compound and start to slow down what I think you accurately described as, overall, a healthy economy.”
Further engaging with local entrepreneurs, Collins visited several downtown businesses, including Fishtoes, a vintage clothing store co-owned by Lara Parson. The store, opened in February, represents part of a broader effort to establish Manchester as a shopping destination. Additionally, Collins spoke with Ryan and Leah Connor of The Bookery bookstore. The Connors recently launched the first retail location for their coffee roasting enterprise, Critical Mass Coffee. Ryan Connor stated, “We really do this to get our products out to the local customers. So, it’s been great.”
These interactions provided Collins with valuable insights into both the challenges and the opportunities faced by businesses in Manchester.
