Fledgling "Businesses with Impact" Recognized, Receive Funds to Propel Start-Up

When reSET, the Social Enterprise Trust, whose mission is advancing the social enterprise sector, revealed the winners of its annual Impact Challenge last week, the top award recipient was FRESH Farm Aquaponics, with Movia Robotics, Planet Fuel Beverage Company, Hartford Prints! and Parrot MD rounding out the top five. While the businesses may not be household names, they do represent an increasing number of start-up businesses that are not only seeking a foothold in their respective industries, but are looking to contribute to their community – locally or globally – along the way.

Based in Hartford, FRESH Farm Aquaponics is devoted to providing “the best quality aquaponic food to our community sustainably, teaching a new generation with aquaponics, and engaging the community to develop a local food ecosystem.” The company proclaims “expect from us the best produce available locally, year round in the Hartford County area. You will also see us engaging local schools in pioneering aquaponic experiments from elementary schools to universities.” (see video below)

Planet Fuel is a sustainable lifestyle beverate brand for teens and tweens.  The company's goal is to inspire young people to realize the power of consumer choices to effect social and environmental change.

MOVIA Robotics provides an innovative approach in educating children with autism to "form connections inside the world we live in today." The company uses robots and develops "our own software based on interactions with therapists and children."

Now in its fifth year, the reSET Impact Challenge recognizes the most innovative and impactful early stage ventures and start-ups from all industries throughout New England.  The event, held at The Society Room of Hartford, saw a record, sellout crowd of 300 in attendance.

Diamond Level - $20,000 + Professional Services Package (1 Winner)

FRESH Farm Aquaponics (http://www.freshfarmct.org)

Gold Level - $10,000 + Professional Services Package (2 Winners)

Movia Robotics (www.moviarobotics.com)

Planet Fuel Beverage Company (http://www.planetfuel.com)

Silver - $5,000 + Professional Services Package (2 Winners)

Hartford Prints! (hartfordprints.com)

Parrot MD (parrotmd.org)

People’s Choice - $1,500 + Professional Services Package (1 Winner)

BookBugs (www.bookbugs.net) 

Investor’s Choice - $1,500 (1 Winner)

Send Help Back Home (www.sendhelptoday.com)

Bronze - $500 (7 Winners)

Asarasi, Inc. (www.asarasi.com)

Beautiful Day / Providence Granola Project (www.providencegranola.com)

BookBugs (www.bookbugs.net)

Daily General Counsel (www.dailygeneralcounsel.com)

Dream See Do (https://www.dreamseedo.org)

Hugo & Hoby (www.hugoandhoby.com)

LOTUS Alliance LLC (www.lotusalliance.org)

The five awards judges - Sherrell Dorsey of Uber and Triple Pundit, Adam Dotson of Ironwood Capital, Claire Leonardi, an advisor to reSET's Social Enterprise Investment Fund and former CEO of Connnecticut Innovations, Anthony Price of LootScout and Paul Witinski of Ironwood Capital - narrowed down more than 100 applicants to 12 honorees.  The People’s Choice winner was selected via more than 1,800 online votes.

Since its inception, reSET’s Impact Challenge has awarded more than $180,000 to scaling entrepreneurs. reSET is a nonprofit organization whose mission is advancing the social enterprise sector. Its strategic goals are threefold: to be the “go-to” place for impact entrepreneurs, to make Hartford known as Impact City, and Connecticut the Social Enterprise state.  In addition to providing co-working space, accelerator and mentoring programs, reSET aims to inspire innovation and community collaboration, and to support entrepreneurs in creating market-based solutions to community challenges. reSET’s goal is to meet entrepreneurs wherever they are in their trajectory and to help them take their businesses to the next level.

reSET’s Impact Accelerator recently was a winner of the U.S. Small Business Administration Growth Accelerator Competition, the only Connecticut growth accelerator to receive the award this year.

https://youtu.be/A03RH_htQ88

Innovative Efforts Receive Spotlight at Inaugural Ceremony Highlighting Energy Efficiency, Conservation

The Stamford 2030 District’s inaugural Change Makers Awards were presented this month, honoring projects and organizations excelling in four distinct areas: innovation in energy, water, transportation and sustainable technology. The awards ceremony captured some of the most innovative local project involving energy efficiency improvements, water retention methods and the promotion of safe multi-modal transportation. The award winners were:

• 400 Atlantic St. (The Landis Group) for Innovation in Energy;
• The Mill River Park and Greenway (Mill River Park Collaborative) for Innovation in Water;
• The Sharrow Network (city of Stamford and People Friendly Stamford) for Innovation in Transportation;
• Living Wall Project (JM Wright Technical School) for Innovation in Sustainability; and an honorable mention to 9 W. Broad St. Property LLC (Forstone) for its work with the C-PACE program.

The Stamford 2030 District is a collaborative, nationally recognized, but local community of high performance buildings in downtown Stamford that aims to dramatically reduce energy and water consumption and reduce emissions from transportation, while increasing competitiveness in the business environment and owners' returns on investment.

”We launched this program in October last year and it’s been amazing to see the commitment from the local community to start implementing changes," said Megan Saunders, Stamford 2030 executive director. "We went from zero to 34 members and have benchmarked six million square feet of their buildings. I’m excited to see what we’re able to collectively accomplish in the next year.”

The awards reception featured a keynote address by Brian Geller, founder of the first 2030 District and currently senior vice president, corporate sustainability, Citibank.  The evening also featured a tribute to the Stamford 2030 District’s first year of accomplishments and a sneak peek at next year’s plans.  Stamford 2030 is a collaboration between Connecticut Fund for the Environment, the Business Council of Fairfield County and a coalition of professional and community organizations.

“I would like to congratulate all of the members of Stamford 2030 for joining together to make vital changes for our community," said Stamford Mayor David Martin. "The partners in Stamford 2030 have really stepped up for the success and sustainability of our city and the surrounding area. And they are not alone. For our part, the city is committed to improving storm resiliency and moving forward with the Energy Improvement District. We believe these efforts are tied to our economic development and ability to attract people to Stamford while conserving important natural resources, all necessary for sustained growth and prosperity.”

The Stamford 2030 District is an interdisciplinary public-private-nonprofit collaborative working to create a groundbreaking high performance building district in downtown Stamford. With the Architecture 2030 Challenge providing property performance targets, the Stamford 2030 District seeks to prove that high performing buildings are the most profitable buildings in Stamford. District Members will do this by developing realistic, measurable, and innovative strategies to assist district property owners, managers, and tenants in meeting aggressive goals that keep properties and businesses competitive while operating buildings more efficiently, reducing costs, and reducing the environmental impacts of facility construction, operation, and maintenance.

2030 Districts are also operating in the cities of Seattle, Cleveland, Pittsburgh, Los Angeles, Denver, San Antonio, San Francisco, Dallas, Toronto and Albuquerque.

https://youtu.be/mRMr88y8TMI

https://youtu.be/9s9yyI1_zdg

Multi-State Analysis Finds Big Businesses Dominate in Receipt of State Financial Incentives

An analysis of more than 4,200 economic development incentive awards in fourteen states finds that large companies receive dominant shares: 70 percent of the deals and 90 percent of the dollars. The deals, worth more than $3.2 billion, were granted by programs that are facially accessible to both small and large companies. That is the key finding of Shortchanging Small Business, a study released by Good Jobs First and funded by the Kauffman Foundation and the Surdna Foundation.

“State economic development incentive programs—even those that are facially neutral as to company size or have very low qualifying barriers—are profoundly biased against small, local and entrepreneurial businesses,” the report stated.  “States, which legally enable and regulate incentives (even those administered by local governments) are failing to walk the talk when it comes to valuing small business job creators.”

The fourteen states where the awards were analyzed are Florida, Indiana, Kansas, Kentucky, Louisiana, Missouri, North Carolina, New Mexico, Nevada, New York, Pennsylvania, Vermont, Virginia and Wisconsin. “Our findings definitively confirm what many small businesspeople have long believed,” said Greg LeRoy, executive director of Good Jobs First and lead author of the study.

Connecticut, which launched a Small Business Express loan and grant program aimed specifically at companies with less than 100 employees, was not among the states analyzed in the study.

Priority for available funding in the Connecticut program is  given to those eligible applicants who (1) are creating new jobs and (2) are within Connecticut’s economic base industries, including but not limited to: precision manufacturing, business services, green and sustainable technology, bioscience, and information technology sectors.

From the program launch in January 2012 thru August 2014, published reports indicate that officials at the Department of Economic and Community Development indicated 1,160 businesses have received loans or grants, and have created 4,171 jobs in the state and retained 12,095 existing jobs.  At that time, a total of $234 million had been bonded in the program.  The average loan was approximately $175,000 per company, with a ceiling of $300,000 for any loan.  The total amount of money disbursed was $159.4 million, in three components: $14 million in revolving loans; $83.9 million in job creation loans and $61.4 million in the matching grant program.

In recent years, Connecticut has also provided significant incentives to larger companies that provide assurances of plans to expand operations and jobs.  The First Five program offers select companies approved by the Connecticut Department of Economic and Community Development (DECD) a package of incentives for creating at least 200 new full-time jobs. In addition to the incentives for the first 200 jobs within five years, participants continue to get tax credits for each net new job created after that.

Participating companies include Cigna, ESPN, NBC Sports, Alexion, CareCentrix, Deloitte, Bridgewater, Charter Communications, Sustainable Building Systems, Navigators, PitneyBowes and Synchrony Financial, according to published reports.

Earlier this year, it was reported that Consumer financial services company Synchrony Financial, headquartered in Stamford, plans to create 200 to 400 new full-time jobs in Connecticut. The state, through the First Five program, is providing financial support for the expansion project, with the company eligible for grants of up to $20 million based on hiring targets, with a $10 million grant for the first 200 new jobs in Connecticut.

In the Good Jobs First study, there is slight variation in the degree of big-business dominance among the states (80 to 96 percent of the dollars) but that is meaningless, the study authors contend, since the programs vary as do the industrial demographics of the states. The key finding, they stress, is how consistently the programs grossly favor big businesses.

The study, based on a close examination of the recipient companies, designates businesses as large or small based on their employment size as well as their total number of establishments and whether they are locally or independently owned.

“As a policy solution, we do not recommend simply reallocating deals and dollars,” said LeRoy. “These tax-break deals often mean little to small businesses. Instead, states should disqualify big businesses and use the savings to better fund public goods that benefit all employers and help small businesses with the persistent credit crunch.”

Short of disqualifying big businesses, the report recommends states spend much less on big businesses by using safeguards such as dollar caps per deal, dollar caps per job, and dollar caps per company.

Among the programs included in the analysis are the Vermont Employment Growth Incentive (VEGI), New York’s Excelsior Jobs Program, and the Wisconsin Economic Development Tax Credit.

Connecticut Businesses Encourage Voluntary Community Service on Company Time

Nearly two-thirds of Connecticut companies surveyed by the Connecticut Business & Industry Association report that they pay their employees for one or two days of volunteerism, another 17 percent offer three or four paid days, and 10 percent offer five or more paid days for employees to engage in community service activities. That data was included in the newly released 2015 Connecticut Corporate Giving Survey.  The survey includes nearly 200 businesses and has a margin of error of plus or minus 7.2 percent.

Among survey respondents, 57 percent say they are more likely to hire candidates who are active in their communities, and one-third say customers do business with them based in part on their reputation for good corporate citizenship.  Just over half, 53 percent, say they encourage or allow employees to volunteer on company time.

Community volunteering is very important for employees who seek a higher purpose in life and look for meaning, says Khadija Al Arkoubi, an assistant professor of management at the University of New Haven: "Companies that allow it improve their employees' engagement and well-being," Arkoubi told Fast Company magazine. "They also develop their soft skills including their leadership capabilities."

The Society for Human Resource Management surveys employers about the benefits they offer. In 2013, about 20 percent said they give their workers a bank of paid time off specifically for volunteering, up from 15 percent in 2009.

A UnitedHealth Group study in 2013 found that 87 percent of people who volunteered in the previous year said that volunteering had developed teamwork and people skills, and 81 percent agreed that volunteering together strengthens relationships among colleagues, Fast Company reported. In addition, four out of five employed people who volunteered in the past year said that they “feel better about their employer” because of the employer’s involvement in volunteer activities, according to the publication.

“It is encouraging to see that not only do many businesses provide incentives for employees to volunteer for area charities, but many voluntarily pay them for their efforts,” said Brian J. Flaherty, Senior Vice President of CBIA.  In the CBIA survey, nearly one-third of businesses (31%) said they recognize or reward employees for volunteer service.

CBIA is Connecticut’s leading business organization, with public policy staff working with state government to help shape specific laws and regulations to support job creation and make Connecticut’s business climate competitive.

Connecticut Not Alone; Six States Have Held Special Sessions on Budget

Connecticut, with a special legislative session a distinct possibility in the coming weeks, would not be alone in needing legislators to return to work on a state budget after their regular session had adjourned.  The states of Alabama, Alaska, Minnesota, Washington and Wisconsin all have conducted special sessions on budget issues this year, and New Mexico had a special session to discuss capital budget and supplemental appropriations, according to the National Conference of State Legislatures (NCSL). Alabama’s special session – the first in five years - was held over the summer, convening on July 13 and ending in disarray in mid-August, with a second special session on the state budget convened and concluded in mid-September.  Among the budget cuts, according to published reports: the Alabama Department of Environmental Management saw its appropriation drop from $1.2 million to $200,000, and the state’s hospitals, nursing homes, smokers and students took a hit.

Alaska’s two special sessions to deal with that state’s budget, as well as other issues, ran for just under a month, adjourning on June 11, costing the state nearly $900,000, according to published reports.  That state’s deficit was driven by lower-than-expected oil revenue.

Minnesota had a two day session in June to work on the state budget, capital investments, and other issues and Washington State had a series of special sessions in April, May and June.  Wisconsin’s special session on budget and other issues convened in July.  Some in that state are urging another special session be convened this fall.

A number of states have had special session on other issues, including Congressional redistricting, Medicaid expansion, prison construction and the state’s child support system.

Democratic legislative leaders and Republican legislative leaders are scheduled to meet with Connecticut Gov. Dannel Malloy on Monday, Oct. 26, for their first budget discussion, in the run-up to an anticipated special legislative session to close the state’s projected budget deficit.

There are two main types of legislative sessions in states across the country, according to NCSL —regular and special (sometimes known as extraordinary). A regular session is the annual or biennial gathering of legislators, the starting date (and often, the length) of which is set by constitution or statute. Unlike regular sessions, there is no specific timing for special (or extraordinary) sessions. They occur intermittently to deal with the specific issues or topics.  Usually, the scope of a special session—that is, the topics that may be taken up—is limited to the issues specified in the notice calling for the special session, the NCSL website explains.

In 34 states, including Connecticut, a special session of the legislature can be called by either the Governor or the legislature.  In 16 states, only the Governor has that authority.  Connecticut’s regular legislative session, according to the state constitution, runs from early January to early June in odd numbered years and early February to early May in even numbered years.

12 Reach Connecticut Broadcasters Hall of Fame

The 60th annual convention of the Connecticut Broadcasters Association (CBA) this week featured more than an array of informative seminars for radio/tv sales, news, programming, production, engineering, and technology professionals.  The attention-grabber was the first-ever induction ceremony for the newly launched CBA Hall of Fame. The honorees were a who’s who of broadcasting history in the state, including some very familiar names, and some less so.  Earning their place in the Hall of Fame were NBC Connecticut anchor Gerry Brooks, WFSB anchor Denise D’Ascenzo, WDRC talk show host Brad Davis, FOX 61's Al Terzi, WWUH general manager John Ramsey, WMRD sportscaster Bill Glynn, Radio Cumbre Broadcasting president/CEO Pablo de Jesus Colon Jr., NBC CT engineer Joe DiMaggio, Cox Radio's Rick Ferguson. Recognized posthumously were WTIC sportscaster Arnold Dean, WCCC and WHCN veteran Boyd Arnold, and WMRD’s Ed Henry.

“The Connecticut Broadcasters Association has served the common interests of radio and television broadcasters in our state since 1955 and, ultimately, the Connecticut community statewide,” Klarn DePalma, chair of the Connecticut Broadcasters Association, said in announcing the group of inductees earlier this year. “We have created this ‘Connecticut Broadcasters Association Hall of Fame’ to honor remarkable individuals for their long and particularly distinguished service to the broadcasting industry and to the people of Connecticut.”

Boyd Arnold was one of the founders of the Hartford Radio Association and a longtime board member. He was a partner and VP/GM of Beck-Ross Communications’ WHCN(FM), and later, for Marlin Broadcasting’s WCCC(FM). A mentor for numerous radio professionals, Boyd was involved with the Connecticut Broadcasters Association for as a board member, treasurer and president.

In addition to his TV work at WFSB and NBC Connecticut, Gerry Brooks began his career as news director for WAVZ(AM) radio in New Haven, and as a reporter for WMAS radio in Springfield, Mass. He then worked as sports director at WPOP news radio in Hartford while also serving as weekend sports Anchor for WVIT and provided color for University of Connecticut basketball games on the Connecticut Radio Network.

Pablo de Jesus Colon Jr. pioneered Hispanic radio in Connecticut. He spent two decades at WLVH in the roles of radio announcer, PD, sales manager and executive vice president. In 1989, he co-founded Radio Cumbre Broadcasting, WCUM in Bridgeport, and today is its president and CEO.

Denise D’Ascenzo is a nine-time Emmy Award and seven-time Associated Press-winning journalist who also has earned distinction as the longest serving news anchor at a single TV station. She came to Channel 3 in 1986 and is host of “Advancing Medicine.”

Brad Davis began working at a radio station in Chicopee, Mass., in 1956. He was hired by Channel 3 (then WTIC) to host “The Brad Davis Show” for 11 years. Prior to joining WDRC, he also did radio work at WTIC-AM. And, since 1977, he has continuously hosted his own early morning talk show on WDRC that now also is heard on WMMW Meriden, WWCO Waterbury and WSNG Torrington, on the Talk of Connecticut network.

Arnold Dean, joined WTIC-AM in 1965, was its sports director and the originator of the station’s nightly sports talk program, and did play-by-play for a range of live sports broadcasts. He also hosted music shows on the station.

Joe Dimaggio began his engineering career at WVIT in 1968. When he started in the industry he worked on 16mm and black & white film as a camera operator. He has done everything from lighting shows to operating master control, and then to his long career in engineering management.

Richard Ferguson retired in May 2006 after more than 40 years in radio. He served as chief operating officer and later as EVP of Cox Radio starting when Cox acquired NewCity Communications, a radio group he co-founded and led as president/CEO. He was a member of the Cox Radio Board from 1997 through 2006, and continues to consult. He has also served multiple terms as chairman of the NAB. Prior to founding NewCity Communications, he was president of Katz Broadcasting Co.

Bill Glynn of Wethersfield is the “voice” of high school sports and minor league baseball in Connecticut. He began his broadcasting career with WMRD in Middletown (originally WCNX).

Ed Henry hosts “Polish Melodies Show,” which airs every Sunday on WMRD and WLIS(AM), Old Saybrook, for 65 consecutive years.

John Ramsey, of West Hartford, entered the industry as a part-time announcer at the University of Hartford’s WWUH(FM) in 1970, and became a broadcast engineer in 1978. He currently is general manager of WWUH and is secretary of Chapter 14 of the Society of Broadcast Engineers, president of the Torrington Community Radio Foundation (licensee of WAPJ-FM in Torrington), and is the webmaster for HartfordRadioHistory.com.

Al Terzi has news anchored at three of Connecticut’s TV network affiliates over the past 47 years. He began his career at WTIC as a staff announcer in 1968. He stepped down as a daily anchor last year, but still co-hosts the station’s weekly political show “The Real Story.”

Established in 1955, the Connecticut Broadcasters Association is celebrating its 60th year as a respected industry leader in legal, governmental, education and community issues on both the State and National levels. Members include broadcast TV stations, radio stations, vendors and companies with a business interest in broadcasting, educational facilities, and individuals with involvement in the broadcasting industry.

Member radio and TV stations also participate in Connecticut Broadcasters Association public service campaigns supporting the work of the Connecticut Department of Public Safety’s Office of Statewide Emergency Telecommunications – Emergency Alert System (EAS) and AMBER Alert programs, among other efforts.

Highlight videos for the 12 inductees:

https://youtu.be/ffPKNJPtwek?list=PLJyWxh-cfxLshUszNWljlpPGNA4f0hbAu

CBIA and reSET Go Head-to-Head Celebrating Business in Connecticut on Oct. 29

It’s not quite Christmas past and Christmas future, but observers of Connecticut’s business landscape will be forgiven if that’s the take-away from two simultaneous events the evening of October 29 in the state’s Capitol City of Hartford. The Connecticut Business and Industry Association, the state’s leading business membership organization, will be marking 200 years of “Connecticut innovation and ingenuity” at an historic anniversary gala at the Hartford Marriott Downtown, with MSNBC’s Joe Scarborough and Mika Brzezinski the featured guests.  Attendees will have an opportunity to “mix with Connecticut’s most successful and enterprising business leaders at this not-to-be-missed networking event,” according to the advance publicity.

The program is to be preceded by a brief CBIA business meeting. Governor Malloy is schedule to be among the speakers, along with CBIA President & Chief Executive Officer Joe Brennan. Tickets are now available for the celebratory event.

Meanwhile, across town at the Society Room, reSET, the Social Enterprise Trust, whose mission is advancing the social enterprise sector, will be highlighting the unfolding efforts of 12 impact businesses selected as honorees of the 2015 reSET Impact Challenge. Stressing social enterprise, the event has been described as “the future of business.”

The competition, now in its fifth year, recognizes the most innovative, impactful, and viable early stage ventures and start-ups from all industries. For the first time this year, the Challenge was opened to entrepreneurs throughout New England. Award winners will receive unrestricted seed capital, expert professional services, and public recognition. Nine of the 12 finalists are from Connecicut.

“This year’s short list was chosen from the over 100 enterprises that applied. That’s almost double that of last year, and a 700 percent increase since The Challenge launched in 2011. The talent pool gets stronger every year and narrowing it down this time around proved to be quite challenging,” said Rosie Gallant, Director of Programs at reSET.

A panel of expert judges will decide the overall winners who will be revealed at an open-to-the-public celebration, starting at 5pm.   To hear the honorees’ stories and to cast your vote for the “People’s Choice Award,” people are urged to visit www.TheImpactChallenge.org/PeoplesChoice.  The honorees are:

• Asarasi, Inc. (CT)
• BookBugs (NH)
• Beautiful Day / The Providence Granola Project (RI)
• Daily General Counsel (MA)
• Dream See Do (CT)
• FRESH Farm Aquaponics (CT)
• Harford Prints (CT)
• Hugo & Hoby (CT)
• LOTUS Alliance LLC (CT)
• Movia Robotics (CT)
• Parrot MD (CT)
• Planet Fuel Beverage Company (CT)

Connecticut Public Radio host John Dankosky will moderate a panel at the celebration about how social innovation is transforming industries. The panel will feature Disruptive Innovators Jean Hammond, co-founder and partner of LearnLaunch; Makaela Kingsley, director of Wesleyan’s Patricelli Center for Social Entrepreneurship; and a co-founder of tech startup Send Help Back Home.  Tickets to the celebration next month may be purchased at www.ResetImpactAwards.Eventbrite.com.

A separate Impact Venture Showcase will begin at 4pm, with eight early stage, impact-driven startups pitching to an audience of investors, advisors, and guests seeking both social and financial returns. Seating for this pre-celebration event is limited. Separate tickets are required, available at: www.ResetImpactAwards.Eventbrite.com.

With both events spotlighting innovation and ingenuity, the state Department of Economic and Community Development’s statewide theme, “Still Revolutionary,” comes to mind.

This year’s Challenge and Awards are being made possible by a large community of supporters, including a fair number who may also be represented at the CBIA celebration.  The reSET even sponsors include Aeton Law Partners; Bank of America; BNY Mellon; Cantor Colburn; Carter Realty; Central Connecticut State University; Clark Insurance; Comcast Business; Community Investment Corporation; Connecticut Department of Economic and Community Development; Connecticut Innovations; Farrell & Farrell Consulting Services; Fiondella, Milone & LaSaracina; Health Educated, Inc.; HealthyCT; HEDCO Inc.; Murtha Cullina; Powerstation Events; Pullman & Comley, LLC; Qualidigm; Quinnipiac University; Remarkable Technologies; Tariq Farid Foundation; The City of Hartford; The Hartford; The Walker Group; Travelers; Trinity College; and Updike, Kelly & Spellacy.

https://youtu.be/07vC9ohKyyg

https://youtu.be/8hg7nUBL4P4

https://youtu.be/DR1KfGFqG5U

CT’s Manufacturing Report Card Features Every Grade, From A to F

Connecticut’s report card on Manufacturing and Logistics is a mixed bag, according to data compiled by Indiana’s Ball State University Center for Business and Economic Data.  The state’s grades in nine categories range from an A in the Productivity and Innovation category to an F in Worker Benefit Costs. The other categories were Manufacturing Industry Health, Logistics Industry Health, Human Capital, Tax Climate, Expected Liability Gap, Global Reach and Sector Diversification. Overall the state received one A, one B+, one B, one C+, two C-, two D, and one F. 

Connecticut’s manufacturing industry is 8.1 percent of the state economy, according to the report. The total personal income in Connecticut is $203,703,411,000 and earnings from manufacturing total $16,591,678,000, the report stated.

The state’s top grade was in Productivity and Innovation.  The researchers described that category as “the value of manufactured goods per worker – productivity – as well as firm access to inventions and innovations,” which “is critical to the long-term performance of a firm and the industry as a whole.”  To measure productivity and innovation, they used manufacturing productivity growth, industry research and development expenditures on a per capita basis, and the per capita number of patents issued annually.  Connecticut was one of five states to earn an A; the others were California, Michigan, Texas, and Washington State.

Compared with 2009, Connecticut’s grades improved in the categories of Productivity and Innovation, Manufacturing industry Health, and Logistics Industry Health, and declined in Tax Climate and Human Capital.  In Tax Climate, the state dropped from a D last year to a D- on 2015’s report card. Sector Diversification, which received an A in 2011, dropped to a C the following year, and has been mired at a D in each succeeding year.

The report authors note that “states that concentrate their manufacturing activity in a single sector typically suffer higher volatility in employment and incomes over a business cycle and are also more likely to experience greater effects of structural changes to the economy involving a single sector.

Connecticut’s Tax Climate grade has been a steady D or D- since 2010, after earning a C in 2009.

In the Global Reach category, in which Connecticut received a B+, only South Carolina, Ohio, Indiana, and Delaware received a higher grade.  Connecticut’s grade matched New Hampshire, placing Connecticut in the top six in that category.  The Ball State researchers indicated that “the level of international trade (in both imports and exports) is a robust measure of competitiveness in the production, movement and distribution of consumer durable and non-durable goods.”

The university’s national report provided report cards to all fifty states in each of the categories.

The Center for Business and Economic Research is an economic policy and forecasting research center at Ball State University.  CBER research includes public finance, regional economics, manufacturing, transportation, and energy sector studies.

New Haven’s Square 9 Softworks Ranks #20 Among Nation’s Top 100 Inner City Businesses

The Inner City 100 are among the nation’s fastest-growing urban firms.  The list of the city-based businesses, thriving from coast to coast, is compiled by Initiative for a Competitive Inner City (ICIC) and featured in Fortune magazine.  The top firms range from a Philadelphia glass blowing outfit, to an Oakland-based 3D printing shop, from a high-end Brooklyn chocolatier to a New Haven software company, the only Connecticut company to earn a spot on the list. “America's urban core is filled with a wildly diverse array of fast-growing businesses,” Fortune points out in presenting this year's 100 fastest-growing inner city companies. Ranking at number 20 is Square 9 Softworks, a leading developer of innovative, business-centric software solutions, headquartered in New Haven. 

Education is paramount at Square 9 Softworks, the write-up by ICIC points out. The document management software maker “has led a number of tech-focused workshops for entrepreneurs in New Haven, as well as creating inner-city scholarships and business intern programs, while recruiting talent from local schools.”

According to ICIC, half its employees are under 35 and come from area universities, and Square 9 plans to nearly double its workforce in two years. Clients and partners include Priceline, New York Life Insurance Company, Ohio State University, and Konica Minolta. According to Fortune and ICIC, the company’s 5-year growth rate is 489 percent, with 2014 revenue of $7.45 million.

The companies listed on “Inner City 100” list among the fastest-growing American companies in any location. Although based in the inner city, these companies derive more than half their revenues from regional, national and international sales, the ICIC explains.  The median firm is 11 years old with over $8 million in annual revenue, 45 full-time employees and a five-year compound annual growth rate (CAGR) of 39 percent.

The Inner City 100 Companies, according to the website listing, are producing jobs in their local communities, competitive advantage for their business partners and profits for their investors. Across all sectors, Inner City 100 firms are more productive than their sector peers throughout the U.S., according to U.S. Census data.

The top 10 companies:  Bithenergy (Baltimore); BWI (Indianapolis); Caduceus Healthcare (Atlanta); Rise Interactive (Chicago); Business Resource and Security Services (Washington DC); StreamLink Software (Cleveland); Concrete Constructors, Inc. (Jackson, MS); Impact Makers, Inc. (Richmond,VA); Creative Business Solutions, Inc. (Washington, DC); and The Onyx Company (Chicago).

Square 9 Softworks is a privately held Connecticut-based corporation whose management team consists of tenured ECM industry professionals, according to the company’s website. Last month, Square 9 Softworks, announced that Buyers Laboratory LLC (BLI), the world’s leading independent evaluator of document imaging products and solutions, awarded Square 9’s “SmartSearch 4.2” the 2015 Summer Pick Award.

“SmartSearch is one of the few document management solutions that can be ideal for both large and small organizations,” said BLI Senior Editor, Jamie Bsales. “Unlike many document management systems, SmartSearch includes most functionality in the standard product, rather than requiring extra-cost add-ons. This makes SmartSearch much less expensive when matched feature-for-feature with other leading systems. Square 9’s SmartSearch has demonstrated to BLI its ability to satisfy complex business needs, streamline daily processes and increase productivity.”

Square 9 is fully owner managed and as such is not subject to the direction of the markets or private equity, the website emphasizes. As a privately held corporation Square 9 has assumed a long term position of expanded growth and profitability, realizing triple digit growth in each of the four years from 2008 – 2011 while recording profitability in sixteen straight quarters, the website points out.

The Initiative for a Competitive Inner City (ICIC) is a nonprofit research and strategy organization and the leading authority on U.S. inner city economies and the businesses that thrive there. Founded in 1994 by Harvard Business School Professor Michael Porter, ICIC strengthens inner city economies by providing businesses, governments and investors with the most comprehensive and actionable information in the field about urban market opportunities. It is led by CEO Steve Grossman, a former Massachusetts State Treasurer and gubernatorial candidate.

https://youtu.be/5Z8qWU_nqLg

Four CT Businesses Among Finalists in Martha Stewart American Made Competition

Four Connecticut small businesses owners and entrepreneurs are among the finalists selected in the Martha Stewart American Made contest, which highlights the creativity in design, crafts, food and style that is thriving nationwide.  Members of the public can vote on-line for their favorites, with the winners to be announced later this month.  The Connecticut-based finalists operate in Hartford, Bridgeport, East Lyme and Stafford Springs. “Made in America” means that “all or virtually all” of the product has been made in America—that is, all significant parts, processing, and labor that go into the product must be of U.S. origin. Products should not contain any—or should contain only negligible—foreign material. 

The descriptions of the Connecticut-based finalists:

• American Woolen (Stafford Springs - Design Finalist) is re-introducing excellence in domestic textile manufacturing and re-establishing the American "Metropolitan" style aesthetic. American Woolen occupies a red brick, textile mill in northeastern Connecticut. Originally constructed in 1853 and subsequently extended in 1919, the building offers textured surfaces and colors that provide continuous inspiration for our fabric collections.
• Paloma's Nest (East Lyme - Design Finalist) creates new traditions for modern families- heirloom gifts that celebrate wedding, baby, home & holiday. It is the creative work of husband and wife team Jose Vasquez-Corbalan and Caroline Colom Vasquez. Designing together since the day they met (literally designing furniture on cocktail napkins), the pair handcrafts each and every Paloma's Nest item in their coastal Connecticut studio from fine wood and clay materials.
• Raw Material (Bridgeport - Crafts Finalist) is one part street, one part rural Americana. The business’s DIY Knit Kits let anyone create luxe fashion with American-spun merino and alpaca yarn.  Raw Material is a collaboration between mill, woodworker and knitwear maker, using American fiber, spun in an artisan mill. The business works out of a studio in Bridgeport, CT in the American Fabrics Art Building.
• Hartford Artisans Weaving Center’s (Hartford - Crafts Finalist) mission is to promote the craft of hand weaving in a supportive and creative community to individuals with low or no vision or senior in age. People may enroll in the program to get out of the house, to learn a new craft, or to earn extra income; however, “they find far more at our center. They form social bonds, dispelling the loneliness and isolation so common among sight-impaired, blind, and/or senior people,” the website points out.

Creative entrepreneurs and small business owners were encouraged to enter the Martha Stewart American Made Choice competition. From all the published nominees, up to 1,000 finalists have been selected to compete for the American Made Awards across the categories of crafts, design, food, and style. Of these finalists, up to 500 will be handpicked by a panel of judges. From the entire pool of finalists, one winner will be selected. Voting ends on October 19, 2015 at midnight.  The Audience Choice Award Winner will be announced on or about October 23, 2015.

American Made “spotlights the maker, supports the local, and celebrates the handmade,” according to the competition’s website.  The program is made up of people and communities that have “turned their passion for quality craftsmanship and well-designed goods into a way of life.” The categories are Crafts, Design, Food and Style.

Martha Stewart and the executive editorial team of Martha Stewart Living will serve as category judges and oversee the selection process of the finalists. The judges will base their selections on the following criteria: Innovativeness, demonstrated creativity, and originality of idea; workmanship; appearance; and embodiment of an American made theme.

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