Connecticut “Ideas Worth Spreading” Resonate in Massachusetts in TED Talks

TED came to Springfield, Massachusetts this month with a decidedly Connecticut flavor, as a quarter of the featured speakers offering “ideas worth spreading,” hailed from the “still revolutionary” state.

Of the 16 “TED talks” on the agenda during a day-long program sponsored by and held at the headquarters of Mass Mutual, four of the speakers were from Connecticut, and left the specially selected audience intrigued, impressed and inspired.

Well known worldwide, TED is a nonprofit which began decades ago with a conference bringing together people from three worlds: Technology, Entertainment, Design. Since then its scope has become considerably broader, and “TED Talks” – widely available on the web – have become a global phenomenon, watched by tens of millions.

TED conferences “bring together the world's most fascinating thinkers and doers, who are challenged to give the talk of their lives.”  That’s precisely what occurred at TEDx in Springfield, where in addition to speakers touting the possibilities for that post-industrial urban center, a wide array of innovative subjects were featured under the theme “Driving innovation through diversity and inclusion.”

The Connecticut quartet at TEDx Springfield:

• Keisha Ashe is co-founder and CEO of ManyMentors, a nonprofit science, technology, engineering and math STEM) mentoring organization that connects minority and female middle and high school students with encouraging and supporting near-age mentors in the STEM fields.  “If they never know, they’ll never go,” is the guiding phrase of the initiative, reflecting the fact that many women and minority students are not encouraged to pursue the STEM fields, and are often unaware of the career potential or their own aptitude for the STEM careers.  Ashe is a Ph.D. candidate in Chemical Engineering at UConn.
• Maureen Connolly is an event planning professional with extensive national and international experience across diverse markets, and a visionary and passionate leader skilled at creating high impact programs with measurable results.  She is the foremost advocate for utilizing public celebrations as a means of extending social capital by having the community, rather than the event, at the core of planning.  She has written on the enduring transformational potential of public celebrations, and offers that “now is the time to harness that collective energy and accumulated social capital as a catalyst for social change” that will develop collaborations with the potential to breathe new life into hard-pressed cities.
• David Ryan Polgar is a Connecticut-based writer/attorney/educator and highly regarded tech ethicist who speaks on the topics of information overload, digital diets, and creativity.  He is an award-winning columnist for Seasons magazine, and has been featured in national media. Polgar speaks and writes about the ethical, legal, sociological, and emotional issues surrounding our relationship to technology.  He has created a “Mental Food Plate” as an approach to achieving deeper levels of thinking, and explores the imperative for an industry to develop that will serve as a counterbalance to the burgeoning technologies that “we can’t stop consuming.”
• Jon Thomas is the founder of Tap Cancer Out, a Brazilian Jiu-Jitsu nonprofit and host of the most philanthropic martial arts events in the world.  Jon Thomas and his wife Becky run the Stratford-based nonprofit “in the slivers of spare time between their jobs in advertising.”  The nonprofit was founded out of a desire to respond to the devastation of cancer through a sport that Thomas was deeply involved with.  The organization raises funds – all donated to the Leukemia & Lymphoma Society - through hosting fundraising tournaments, direct donations, merchandise sales and sponsorships.

The TED website points out that “TED is best thought of as a global community, welcoming people from every discipline and culture who seek a deeper understanding of the world.”  TEDx Springfield was organized by Jae Junkunc of Hartford, from Mass Mutual's Enterprise Risk Management Group, with support of a 15-member team that developed the program over six months.

TED includes the award-winning TED Talks video site, the Open Translation Project and TED Conversations, the inspiring TED Fellows and TEDx programs, and the annual TED Prize. The TEDx program gives communities, organizations and individuals the opportunity to stimulate dialogue through TED-like experiences at the local level. The TED Conference provides general guidance for the TEDx program, but individual TEDx events are planned and coordinated independently.

A TEDx session in Hartford in June included talks by David Fink of Partnership for Strong Communities, Steven Mitchell of East Coast Greenway, Donna Berman of Charter Oak Cultural Center, and Rich Hollant of CO:LAB, among sixteen local speakers.

Greenwich Radio Station to be Purchased by Hartford Native

Once a radio fan, always a radio fan.  That is perhaps the best explanation for the planned purchase of Greenwich radio station WGCH by the Connecticut-based Forte Family Broadcasting, Inc., pending approval from the Federal Communications Commission.

The buyer is Rocco L. Forte of Sarasota, Fla. and Lyme, Connecticut. Forte is the former chief financial officer of the Abate Insurance Agency and AIA Risk Services in New Haven, according to published reports.

A native of Hartford, he is an alumnus of Hartford Public High School, the University of Connecticut and the UConn School of Insurance.

Beginning Nov. 4, Forte’s organization will operate the local station – which marks its 50th anniversary in 2014 - under a "local marketing agreement," until Forte can secure formal approval from the FCC, which could happen as soon as December, the Connecticut Post reported.

A format change is not anticipated.  The station currently broadcasts programs from the Business Talk Network and Lifestyle Talk Network, as well as local sports including the Bridgeport Bluefish and Greenwich High School football.  In addition to local news, other local programming includes a medical report from Greenwich Hospital, a local trivia program, and a weekly program featuring the town’s First Selectman.

“I am excited to be able to buy such a heritage station in Connecticut, and look forward to making the 50th anniversary year of WGCH a successful and even more profitable one,” Forte said in a statement. “My love for radio began in college, when I worked both on-air and in sales,” he added.

WGCH broadcasts 24 hours a day at 1490 AM, is licensed to Greenwich and bills itself as “the voice of Fairfield and Westchester Counties.”

Connecticut Innovation Summit to Highlight Emerging Entrepreneurial Businesses

Hundreds of people who from across the spectrum of Connecticut’s innovation ecosystem — from C-level executives to emerging entrepreneurs, investors to entrepreneurial support organizations, service providers to students, will gather to share ideas and promote and celebrate innovation at the Connecticut Innovation Summit, convening for the seventh year on November 7.

The expanded Summit agenda includes:

Mentor Meetings where 75 entrepreneurs will get the unprecedented opportunity to meet one-on-one with three tech experts of their choosing — executives, investors, and serial entrepreneurs who built and sold companies — to share their experiences, knowledge and expertise.

The Funding Fair where funders and entrepreneurial resources including angels, VCs, corporate VCs, investment bankers, lenders, family offices, government programs, private investors, incubators and co-working spaces will be on-hand to offer individual guidance and advice.

The Pitch Fest where each of the 75 companies deliver a three-minute pitch to a panel of judges. The top ten pitchers will compete at the Pitch-Off where the audience, by way of electronic voting, determines the best of the best.

Poster Expo enabling deal makers and movers and shakers face-to-face time with each of the 75 Tech Companies to Watch.

Described as “Connecticut's Largest Networking Event for Innovative, Emerging and Start-up Companies,” the expanded agenda also recognizes Tech Companies to Watch - 75 tech start-ups representing cutting edge, early stage and emerging growth companies.  Companies that reflect innovation, and have the potential to grow quickly and do not exceed $3M in revenue, are urged to apply to be a Tech Company to Watch.

Five of the 75 companies will receive awards in categories including green tech, internet / new media, life sciences, software and technology product / service. The Connecticut Innovation Summit is presented by Angel Investor Forum, Connecticut Technology Council, Crossroads Venture Group, CTNext, and CURE. Registration is now available.

Hartford Skyline's Phoenix Boat Building Celebrates 50th Anniversary

Dubbed the "Boat Building," it is the world's first two-sided building and in 2013 celebrates its 50th anniversary. The headquarters of The Phoenix, located in downtown Hartford at One American Row, was an architectural original, and half a century later, continues to stand out amongst newcomers to the Hartford skyline.

Completed in 1963, the building is listed on the National Register of Historic Places, and is an exceptionally significant example of the Modernist architectural style.

Distinguished by its unique form and lenticular plan, the building was designed by Max Abramovitz, a recognized 20th century master. Abramovitz -- widely acclaimed for his role in designing two of New York City's landmarks, the United Nations and Lincoln Center -- envisioned the locally dubbed "boat building" as a reflection of a daring and progressive company.

The construction of One American Row cemented Phoenix's commitment to the renewal of Hartford, where the company was founded in 1851, and reflected its forward-thinking and innovative business approach. The company decided to remain in Hartford in the 1960’s – and since then – choosing neither to move to the suburbs or to the planned Constitution Plaza nearby, which was the first urban renewal project in Connecticut and one of the earliest in the nation.

The 13-story tower is properly called an elliptic lenticular cylinder and is 225 feet along its axis and 87 feet wide at maximum width. It is oriented so that its pointed ends face east and west and the sides face north and south. The building was designed by one of the nation's foremost architectural firms, Harrison & Abramovitz, of New York. Ground was broken in 1961 and the contractor, George A. Fuller Company, completed construction in November 1963.

In 2010, the building was awarded Silver Leed® certification from the U.S. Green Building Council, and is one of a small number of buildings that are both Leed® certified and listed on the National Register of Historic Places.

The Phoenix was named one of the region’s top workplaces by The Hartford Courant in 2012.

In 2013, the plaza surrounding the building was renovated with environmentally friendly planted areas. The "green" plaza renovation was the first completed private property piece of Hartford's iQuilt Plan, which promotes creative urban design to strengthen pedestrian links between downtown destinations.

The Phoenix Companies, Inc. is a boutique life insurance and annuity company serving customers' retirement and protection needs. Insurance products are available through select independent distributors, supported by our wholesaling team at Saybrus Partners.  Founded in 1851, Phoenix is publicly traded on the New York Stock Exchange under the symbol PNX. Corporate offices are in Hartford, CT, and there is a customer service center in East Greenbush, NY. As of December 2012, they reportedly had approximately 600 employees.

Hartford Hosts First-Ever International Start-Up Weekend

Hartford’s Start-Up Weekend is going international.  The MetroHartford Alliance and its young professionals organization, HYPE, have announced that this year’s Startup Weekend Hartford, to be held October 18-20, will represent the first transnational collaboration, as Hartford organizers have partnered with Start-Up participants in Ottawa, Canada.

 Startup Weekend Hartford-Ottawa, a coordination of virtually connected sets of teams, mentors and organizers during the competition, will also feature Jeff Hoffman, co-founder and partner at ColorJar and a former founding team member of Priceline.com, who will virtually connect to speak to the event's participants.

Startup Weekend convenes active and empowered entrepreneurs to navigate the basics of founding startups and launching successful ventures - all in 54 hours.  The event, held in cities all over the world, convenes local developers, graphic designers, marketing professionals, product/business managers and startup enthusiasts to build viable business plans around entrepreneurial ventures.  In Connecticut, previous events have been held in New Haven, Storrs and Hartford.

The Hartford base will hold its event at the uniquely equipped Connecticut Institute for Primary Care Innovation at Saint Francis Hospital and Medical Center in Hartford.  Counterparts in Ottawa have partnered with longtime sponsor and Ottawa-based startup Shopify, where the local event will be held.

Startup Weekend begins with participants pitching their startup ideas and receiving feedback from peers. Participants are not required to pitch an idea to participate, but all are welcome to do so. Teams are then formed by participants based on the top ideas as voted on by the group.  Over the course of the subsequent 54 hours, each team focuses its energies on creating a business model and on coding, designing, and obtaining market validation for their product or service.

The weekend culminates with presentations in front of entrepreneurs and business community leaders who offer constructive feedback in the competition’s judging process.  This year, three winners will be named.

“Both cities have a strong entrepreneurial spirit and base, and the mechanics of this transnational effort will allow all participants, especially those who opt for the joint opportunity, to harness the most innovative and advanced technologies to connect, create and compete,” said John Shemo, vice president and director of economic development for the MetroHartford Alliance.

“We’ve found a great fit with the Startup Weekend Hartford team, both in terms of passion and in the common values that make up the secret sauce of technology entrepreneurship,” said Paul Austin-Menear, Marketing Director for Startup Weekend Ottawa.  The pace of change in business and technology continues to make waves in both Canada and the United States, and it’s important to us that the next generation of entrepreneurs be prepared for, and take part in the next leap forward.”

The MetroHartford Alliance and HYPE successfully facilitating two previous events in Hartford.  The 2012 event was the second vertical, or industry-focused, event of its kind with an emphasis on health and wellness. Registration to participate in the Hartford base for Startup Weekend Hartford-Ottawa is $99 per person.  A discount rate of $25 is available to college students.

For more information, visit http://hartford.startupweekend.org.

CT is Top 10 State in Percentage of Seniors in Workforce;Both Men and Women Highly Ranked

Connecticut is among the nation’s leading states in the percentage of senior citizens – men and women age 65 or older – still in the workforce.  The Land of Steady Habits placed in the top ten for both men and women, and showed increases in the percentage of seniors in the workforce compared with 2000, reflecting a national trend.

Connecticut is ranked 9th in the nation in the percentage of female senior citizens in the workforce, with 14.7 percent.  The state is 7th nationwide in the percentage of male senior citizens in the workforce, with 23.8 percent.

Looking at the percentage of senior female workers, the top ten are Alaska (with 20.7%), Nebraska, District of Columbia, South Dakota, Wyoming, New Hampshire, Hawaii, Maryland, Connecticut and North Dakota.  The lowest percentage was in Michigan at 9.2 percent.

In Connecticut, 9.2% of women age 65-69 are working, 3.3% of women age 70-74, and 2.2% of women 75 years old or older.  The overall percentage of women seniors in the workforce in Connecticut increased from 9.9% in 2000 to 14.7% in 2011.

Using U.S. Census data, Bloomberg.com ranked the U.S. states and the District of Columbia based on the percentage of female seniors employed.  Figures are calculated by dividing the number of females aged 65+ and employed by total population of females aged 65+.   The male population was calculated in a similar fashion.

Connecticut ranked 7^th in the nation in the percentage of male senior citizens in the workforce.  Data for male senior citizens indicate that in Connecticut, the overall percentage in the workforce is 23.8 percent, with 13.3% of those age 65-69, 5.6% of those 70-74 and 4.4% of male seniors age 75 or older still working.

The top ten states in the percentage of male senior citizens in the workforce are District of Columbia, Nebraska, South Dakota, Kansas, North Dakota, Maryland, Connecticut, Vermont, Alaska and Massachusetts.  The lowest percentage was in West Virginia, with 13.5 percent.

Connecticut Convention Center Journeys Nationwide to Attract New Conventions, Record-Setting Numbers

In the final days of the National League pennant race last week, a suite at Nationals Park in Washington, D.C. was filled with convention planners – hosted not by the home team Washington Nationals or visiting Atlanta Braves, but by the Connecticut Convention Center.  The 17 convention planners and their guests enjoyed the playoff run of the competing teams that evening, while hearing highlights of the state-owned facility in downtown Hartford.

While it’s too soon to tell if the gambit in the nation’s capitol will bring convention business to Connecticut’s capitol, a glimpse at the upcoming calendar demonstrates that despite a continuing sluggish economy, conventions are definitely coming to town.  In fact, four first-time conventions highlight the October schedule, and next month promises to be the top November for overall attendance in three years.

The first-time events slated for October, when overall attendance at programs and events is estimated to reach nearly 18,000:

• New England Health, Racquet & Sportsclub Association (NEHRSA)/ International Health Racquet & Sportsclub Association (IHRSA) Fall Conference & Tradeshow (October 3-4) - NEHRSA & IHRSA have joined forces to create the premier event for the health & fitness industry in the Northeast.  This event will offer educational tracks for club owners & managers responsible for sales, marketing, social media, operations & fitness training.  (Anticipated Attendance: 250-400 people)
• 2013 Crisis Intervention Team International Conference (October 14-16) - Crisis Intervention Team International is a non-profit membership organization whose primary purpose is to facilitate understanding, development and implementation of Crisis Intervention Team programs throughout the United States and worldwide. Its mission is to promote and support collaborative efforts to create and sustain more effective interactions among law enforcement, mental health care providers, individuals with mental illness, their families and communities, while working to reduce the stigma of mental illness. (Anticipated Attendance: 650-800 people)
• The 2013 Northeast Regional Youth Mentoring Conference (October 17-18) - The region’s only annual conference focused exclusively on supporting quality mentoring, it brings together practitioners, researchers and stakeholders in the mentoring field.  This year’s theme, “Today’s Vision: Tomorrow’s Reality” focuses on the outcomes that can be achieved when a caring adult is brought into a young person’s life through quality mentoring.  (Anticipated Attendance: 175-350 people)
• YMCA Celebrates Champions (October 24, 2013) - The event celebrates the “champions in our lives.”  These champions surround us every day and help to make the lives of others brighter.  They are parent, teachers, volunteers, mentors and others.  The event benefits the many life-changing YMCA programs and services available to underserved families.  The event includes dinner, program and silent and live auctions. (Anticipated Attendance: 350 people.)

 During next month, attendance at all convention center events is anticipated to reach 24,000, which would exceed the 21,747 people who journeyed to the facility in November 2012 and 15,558 who visited during the month in 2011.  The largest conventions scheduled for November include the National Association for Campus Activities, the American Association of School Librarians National Conference and Exhibition – expected to attract 2,000 people - and the Association for Research on Nonprofit Organizations and Voluntary Action Annual Conference.

Since the beginning of June, in the quest to bring future conventions to the facility, representatives of the Connecticut Convention Center have participated in conference planning events in Milwaukee, Philadelphia, Atlanta, Austin, Denver and Palm Beach, Florida.

The Connecticut Convention Center is described as the state’s premier meeting venue, and is the largest full-service convention facility between New York and Boston. Overlooking the Connecticut River in downtown Hartford, it features 140,000 square feet of exhibition space, a 40,000-square-foot ballroom and 25,000 square feet of meeting space, as well as ample sheltered parking.

The facility – opposite the Front Street entertainment district that has recently been gaining traction- is served by more than 6,500 local area hotel rooms, including the 22-story Marriott Hartford Downtown, adjacent to the Convention Center. The venue is professionally managed for the State of Connecticut by Waterford Venue Services, an affiliate of Waterford Hotel Group.

Who’s hearing the sales pitch?  Among the planners on hand for the Nats-Braves game: LaKeesha Wilson, American Association of Blacks in Energy; Adam Martin, American Public Transportation Association; Amy Gorman, United States Council of Mayors; Antoinette Dixon, American Staffing Association; Susan Cairnes, Management Solutions Plus; Marci Glavin, Helms Briscoe; Lori Kolker, Elle K Associates; Alyssa Murphy, Windrose Media; Brian Peterkin, Vertanesian-BoardSource.

This past summer, Michael Costelli, General Manager for the Connecticut Convention Center, was interviewed on TALK BUSINESS 360 regarding the facility’s operations and growth.  TALK BUSINESS 360 is a talk show that educates and entertains millions of travelers by presenting one-on-one interviews with business leaders and top executives from a variety of industries.  The broadcasts run on American Airlines, Delta Air Lines, and US Airways.

Hartford Marathon Prepares for Hand-off to New Title Sponsor

More than 1200 volunteers, 30 bands and local entertainers, and thousands of participants and spectators will flood into the Capitol City on October 12 for the annual ING Hartford Marathon.  It will be the last time they do so under the ING banner, as the company is not renewing its sponsorship of the race after this year’s edition, their sixth as title sponsor.

This year’s race is expected to attract 18,000 runners and 57,000 spectators.  Prior to ING, United Technologies had been the title sponsor, following Aetna in the lead role since the race’s inception.  The Hartford Marathon has served as an increasingly impactful economic stimulus to Greater Hartford, helping to fill hotel rooms, bars, restaurants, and other tourist attractions throughout the region.

In 2012, the marathon brought in at least $11 million of economic value to the Hartford area, according to an analysis by Witan Intelligence Strategies Inc. About 29 percent was spent on lodging, 26 percent on recreation, and 20 on percent meals. The remaining expenses were for transportation and shopping, the Hartford Business Journal reported.

ING U.S., with major operations in Windsor, will end its association with the state's signature running event as it separates from its Dutch parent and rebrands into a new company — Voya Financial.  ING U.S. is also dropping its title sponsorships of races in New York and Miami. ING employs more than 1,700 people in the state, mostly in its Windsor campus on Day Hill Road.

The Hartford Marathon Foundation is already searching for a new 2014 title sponsor, which it hopes to have in place by the end of this year.

ING will have 200 volunteers at this year's event. ING staffers will anchor water stations, hand out material (including medals for participants), and assist in various capacities.  Water and carbo fluid stations are to be located at mile 2, mile 4 and every mile thereafter on both the the Marathon and Half Marathon courses, officials say.

In addition to more than a dozen major sponsors drawn from the ranks of Connecticut’s leading corporations (including United Technologies, Hartford Hospital, Power Station, legrand, Aetna, Travelers, Baribault Jewelers and Executive Auto Group), volunteers each year include staff members from Connecticut businesses, community groups and organizations that devote volunteers as a group service effort.

In addition to the Hartford Marathon, ING also sponsors Run For Something Better, a program that encourage kids to participate in the sport of running and make healthy lifestyle choice.  Participants in the initiative run various times per week in the weeks leading up to the race, and then arrive on marathon day to complete their final mile.

In addition to the race itself, numerous associated activities have grown up through the years.  For the first time last year, the “Mile Barkers", members of Sea Tea Improv of Hartford performed at mile markers as runners pass by. They’ll be back this year.  A new "Psyching Team" is available before race day, at the start, on the course and at the finish.   Hartford's Post-Race is "one of the best in North America," says The Ultimate Guide to Marathons.

The event has also developed a national reputation for extensive greening initiatives.  New this year are collaborative efforts with the UCONN EcoHusky Club and EcoHouse Learning Community and Hartford's Knox Park.

Jepson, Blumenthal Seek Federal Action to Limit Electronic Cigarettes As Concerns Grow

On September 6, the Centers for Disease Control and Prevention (CDC) reported that the use of electronic cigarettes by middle and high school age children had doubled in the past year.  Less than three weeks later, the Attorneys General of 40 states – including Connecticut - announced that they are calling on the U.S. Food and Drug Administration (FDA) to issue regulations by October 31, 2013, addressing the advertising, ingredients and sale to minors of e-cigarettes.

The CDC survey noted that an estimated 1.78 million students reported having used e-cigarettes as of 2012. Additionally, an estimated 160,000 students who reported using e-cigarettes had never used conventional cigarettes. “This is a serious concern,” the CDC pointed out, “because the overall impact of e-cigarette use on public health remains uncertain. In youths, concerns include the potential negative impact of nicotine on adolescent brain development, as well as the risk for nicotine addiction and initiation of the use of conventional cigarettes or other tobacco products.”

In a bipartisan letter this week, the attorneys general asked the FDA to regulate e-cigarettes as “tobacco products” under the Tobacco Control Act and to prohibit their sale to minors. E-cigarettes – rapidly growing in popularity among both youth and adults – are battery-operated products that heat liquid nicotine, derived from tobacco plants, into a vapor that is inhaled by the user.

“Nicotine in any form is highly addictive,” said Connecticut Attorney General George Jepsen. “While some marketing claims imply that e-cigarettes are a safe alternative to smoking, the fact is that the health effects of e-cigarettes have not been adequately studied. Without sound research, we simply do not know whether the chemicals a user is inhaling are safe.”

At present, no federal age restrictions prevent children from obtaining e-cigarettes, and e-cigarettes are available in fruit and candy flavors – including bubble gum, gummy bear and chocolate – that appeal to youth and have been banned from cigarettes.

Earlier this week, U.S. News reported that Sen. Richard Blumenthal,  the state's former Attorney General, "is one of the most vehement advocates of restricting the sale of electronic cigarettes. "  The magazine reported that Blumenthal says the vapor-producing devices, which are booming in popularity, have become "gateway nicotine-delivery devices" for children and he advocates banning flavor options and online sales.

U.S sales are expected to double this year to $1.7 billion, according to a Wells Fargo Securities estimate published in August. Year-to-date retail sales were estimated at around $700 million and online sales were pegged at $500-625 million.  "I think flavors ought to be banned," Blumenthal told U.S. News. It's "completely disingenuous" to say adults are the primary users of popular flavor options, he said.  "There may be a handful of adults who like bubble gum-flavored e-cigarettes, but the overwhelming purpose," he said, "is to appeal to kids."

In addition to Connecticut, attorneys general from Alaska, Arizona, Arkansas, California, Colorado, Delaware, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, New Hampshire, New Mexico, New York, North Carolina, Ohio, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Dakota, Tennessee, Utah, Vermont, Virgin Islands, Washington and Wyoming signed the letter sent to the FDA today.

“Given the rapid increase in use and youths' susceptibility to social and environmental influences to use tobacco, developing strategies to prevent marketing, sales, and use of e-cigarettes among youths is critical,” the CDC report stated.

Good News, Bad News as Connecticut Seeks Economic Rebound

The assessment of the Connecticut Economic Resource Center (CERC) is good news, bad news for Connecticut’s economic recovery.  In a presentation to The Alliance for Nonprofit Growth and Opportunity, CERC Vice President of Research Alissa DeJonge and Research Analyst Carmel Ford reached two central conclusions:

•  Connecticut has structural problems that continue to make its economy recover more difficult.  Structural problems include workforce and industry compositions that are not particular strengths in the overall U.S. ecnomy.
•  Connecticut has advantages in some areas such as healthcare employment, and we may see improvements in the state’s housing market as forecolousres start to diminish and inventory supply inequities become smaller.

Among the key stats that contributed to the overall analysis from CERC:

1. Connecticut ranked 5^th lowest among the states in per capita energy consumption in 2010.  However, Connecticut ranked 3^rd highest in total energy prices and had the highest energy expenditure among all New England states.
2.    Connecticut’s youth unemployment rate was 17.1 percent in July 2013, compared with the national rate of 16.2 percent.
3.   The unemployment rate in New London county hasn’t decreased significantly since 2010, and in Tolland County since 2011.  Overall, the states unemployment rate by county has been decreasing steadily in the state’s other six counties.
4.   Median prices of single family homes in Connecticut increased 2.7% to $429,000, according to most recent data, and the inventory of single homes went down by 12.9% compared with a year ago.
5. Newly issued housing permits in July 2013 incased slightly to 420 from 375 in July 2012.
6. Connecticut remains the richest state with a per capita income of $58,908.

The CERC officials also pointed out that some of Connecticut’s leading industry categories, such as insurance and finance, are not performing well nationally, thus slowing the opportunities for the state’s economy to advance.

Based in Rocky Hill, CERC is a public-private partnership that provides economic development services consistent with state strategies, leveraging Connecticut’s unique advantages as a premier business location.  CERC was recognized earlier this month  for excellence in economic development marketing by key industry group, the Northeastern Economic Development Association (NEDA).  The award was presented at the recent NEDA annual conference in Portland, Maine among more than 130 economic development professionals from across the Northeast.