53 County Road
PO Box 660
Mattapoisett, MA 02739
Phone 508-758-2238
Fax 508-758-9873


Economic Development
Downtown Redevelopment
Transportation Studies
Economic Impact Studies
Waterfront Studies

About FXM Associates

FXM Associates is a consulting firm specializing in economic planning and research for public and private sector clients nationwide. The company was established in 1991 by Francis X. Mahady, an economist and planner with more than 35 years experience in economic development and transportation planning. The firm offers expertise in economic development, transportation planning, social and economic impact assessment, and waterfront development.

The company's signature work is its development of practical and effective strategies to attract, retain, and diversify employment and business opportunities, while retaining and enhancing the natural and historic characteristics that distinguish communities and regions. FXM's senior professionals have shown particular strength in communicating the results of our work to a broad spectrum of citizen, professional, business, and legislative groups In each assignment, the firm strives to help clients sharpen goals and objectives, to provide relevant analyses and recommendations for achieving them, and to produce reports and presentations that are focused and comprehensible to the target audience.

FXM Associates is a small business meeting the standards in 13 CFR Part 121, and Federal Acquisition Regulations, 48 CFR Part 19.

Francis X. Mahady
Mr. Mahady is an economist and planner with over 35 years' experience in community and regional planning nationwide. He is the author of more than 300 reports, journal articles, and presentations in the fields of economic development, transportation, land use and demographic forecasting, and social and economic impact assessment. His clients include state and federal agencies, regional and municipal governments, non-profit organizations, engineering firms, and development companies. Prior to founding FXM Associates in 1991, he was a Senior Vice President of Economics Research Associates, where he led that firm's transportation planning and economic development practice nationwide for 15 years. Mr. Mahady holds a Bachelor of Arts degree from Harvard College and a Master of City Planning degree, specializing in economic development, from the Massachusetts Institute of Technology.

Jacquelyn Hallsmith
Senior Associate
Ms. Hallsmith is an urban planner with 35 years of experience working with public officials, private companies, and not-for-profit organizations to improve community, transportation, and institutional facilities. For FXM Associates, she provides expertise in economic development and land use planning. Her prior consultant work includes City of New Bedford strategic projects, facilities development for the Massachusetts Bay Transportation Authority and the National Center of African American Artists. She served as Director of Planning, Design and Development for the Boston Housing Authority and Assistant Secretary of the state Executive Office of Communities and Development. Ms. Hallsmith received a Bachelor of Arts degree from the University of Massachusetts Amherst and a Master of City Planning degree, specializing in environmental design, from the Massachusetts Institute of Technology.

Dianne Tsitsos
Senior Consultant
Dianne Tsitsos is a consultant in economic development planning. For FXM Associates, she specializes in fiscal and socioeconomic impact analyses and in market studies for public and private investment projects, particularly in housing and transportation. Prior to joining FXM Associates, she was a Senior Foreign Service Officer with the U.S. Agency for International Development, where she was responsible for low and moderate income housing and urban development programs in developing countries before becoming a senior manager overseeing a broad range of international economic development projects overseas and in the U.S. Ms. Tsitsos holds degrees in Political Science from Tufts University and Syracuse University. She has a Professional Competence rating in French from the Foreign Service Institute.

Michael L. Lahr, Ph.D.
Senior Consultant
Michael Lahr is an economist and Associate Professor at Rutgers University. He has extensive experience in regional input-output modeling and is the author or co-author of over 80 publications, papers, reports and presentations. Dr. Lahr has developed models to estimate economic impacts of transportation, waterfront, tourism, and historic preservation investments across the U.S. His research spans a broad range of regional economic issues. Dr. Lahr has collaborated with FXM for the past seven years, examining the role in the regional economy of the Peace Bridge between Buffalo, N.Y. and Fort Erie, Ontario and estimating the economic impact of golf courses, among other projects. He is a Visiting Research Fellow at the University of Groningen, The Netherlands. He holds a B.A./M.A. and Ph.D. in Regional Science from the University of Pennsylvania.

Rochelle Bates Lee
Senior Consultant
Ms. Lee is an urban planner with specialized expertise in residential development financing and management. During the past 20 years, she has worked with several non-profit and community-based sponsors to develop affordable housing in Rhode Island and Massachusetts. For several years, Ms. Lee also managed a $1.2 million program for the Local Initiatives Support Corporation (LISC) to improve operating capacity of community development corporations engaged in revitalizing low and moderate income neighborhoods. She served as Asset Management Specialist for the National Equity Fund's $100 million investment portfolio throughout New England, managing related equity investments in residential property. Her previous professional experience includes positions with The Community Builders of Boston, MA and Providence, RI, and the Boston Housing authority. Ms. Lee holds a BA from Wellesley College, a Master of Arts (African American Studies) from Boston University, and an MCP degree from the Massachusetts Institute of Technology.