Agawam insulated from nation's economic downturn

Date: 11/18/2008

By Katelyn Gendron

Reminder Assistant Editor



AGAWAM Despite the downturn in the nation's economy, town officials remain steadfast that Agawam's businesses have gone unaffected as new and renovated businesses continue to open their doors.

Planning and Community Development Director Deborah Dachos attributed the town's stable economic climate to "local businesses making that additional investment." She noted, however, that history dictates that an economic slump may be in the future.

"Historically, Western Massachusetts feels the effect after Eastern Massachusetts," she told Reminder Publications. "Will we feel the effect? Definitely. Hopefully [the effect is] just not as dramatic as the rest [of the nation]."

She noted that many local businesses have recently opened new or expanded facilities such as Pananas Restaurant on Suffield Street, Dave's Soda & Pet Food City in Agawam Crossing and the newly renovated CVS on Springfield Street.

"I can not help but feel optimistic and upbeat about Agawam's economic climate," Mayor Susan Dawson said. "We seem to be somewhat insulated from the hardship being experienced elsewhere. I give a tremendous amount of credit to Agawam's strong business community for their faith in and dedication to Agawam and our residents. I am confident we can ride out the storm if we continue to work together."

Dawson said she also attributes the stable economic climate to the split tax rate, which she described as protective, reasonable and affordable for businesses.

At a ribbon cutting ceremony for Pananas Restaurant last Wednesday, Carol Pananas, co-owner of the facility said she and her husband have been working to open this business for five years. She said she is not phased by the national economy and that they "wanted to leave something behind for our children."

"My family has been in Agawam for four decades. This business is the culmination of years of dreaming for our family," Carol's son Angelo Pananas said. "We're giving back to a community that gives us so much."

Dawson noted that other longtime business owners such as Frank and Joanne Locke of Main Street Deli, have also chosen to expand their ventures by purchasing the former Jawicz medical office on Main Street.

"The restaurant, in its newly renovated historic structure, is a beautiful addition to Main Street," she said. "The Lockes have made a huge investment in Agawam."

Dachos noted that two other businesses have also been approved for expansion this month including Action Air for a 1,200 square-foot addition and V & F Auto Inc. that has broken ground on a 2,200 square-foot expansion.

She explained that in spite the expansion throughout town, there is still a hole in the retail market.

"We don't have adequate retail space for our residents," Dachos said, adding that stores such Steve & Barry's in Agawam Crossing are just the beginning in the town's efforts to fill that gap.