Reversal of Fortunes: A Decade Up, A Decade Down for Connecticut’s Economy

Connecticut’s economy is now smaller that it was 2004. The state’s lackluster performance stands in sharp contrast with all of the other New England states, whose economies have seen real growth, as have those of New York, New Jersey, Pennsylvania. The state’s economy contracted in 2017, as it did in 2014 and 2016, and its overall performance for the year ranked 49th, topping only Louisiana. An analysis by the University of Connecticut’s Connecticut Center for Economic Analysis (CCEA) points out that since 2008, Connecticut’s economy, measured in real GDP (corrected for inflation) has contracted every year, except for 2015. That year’s positive blip of 1.1 percent growth was quickly overtaken by contraction in the two subsequent years.

The suddenness of this persistent downturn for Connecticut has been dramatic.  Between 1997 and 2007, the state’s economy grew by 3 percent annually, outpacing Massachusetts (2.9%), Rhode Island (2.5%), and New York (2.3%), based on the compound rate of annual real GDP growth.  In the decade since, through 2016, the Connecticut economy contracted by 0.9 percent annually while Massachusetts and New York grew by 1.6 percent and Rhode Island by .6 percent, according to data from the U.S. Bureau of Economic Analysis.

The Bureau reports the state's GDP shrank 0.2 percent last year—one of just three states with negative growth— after contracting by 0.3% the previous year.  At the same time, the national economy expanded 2.1 percent, CBIA recently pointed out.  CBIA economist Pete Gioia said “We are missing the economic growth party that the region and most of the country are experiencing."  He noted that through March this year, Connecticut has recovered just 80 percent of all jobs lost in the 2008-2010 recession, the slowest recovery in New England. The U.S. has recovered 219 percent of jobs lost.

At the same time the state economy has contracted, Connecticut has seen 78 continuous months of job creation, measured year over year, since 2010, the CCEA analysis acknowledges. While private sector jobs are now above their previous peak, public sector jobs- including those at Foxwoods and Mohegan Sun - have been contracting, and will likely continue to contract for a couple more years, points out Center Director Fred Carstensen.  He adds that jobs created in the private sector have been broadly of lower quality than that of jobs lost. Thus real personal income, like real output, has been contracting even as employment has grown.  So the common focus on job creation has been deceptive: rising job numbers has not meant economic growth.

Adding to the complexity of the situation in Connecticut, Carstensen explains, is the increasing number of residents who work out of state. Since 2016, more than 35,000 additional Connecticut residents have found job outside of the state —so the number of Connecticut residents employed is near an all-time peak. Unfortunately, those 35,000 all pay their income tax first to the state where they work, thus contributing to the fiscal crisis in Connecticut, Carstensen noted.

In 2017, Massachusetts led the way in New England with 2.6 percent growth, followed by 1.9% in New Hampshire, with Rhode Island (1.6%), Maine (1.4%), and Vermont (1.1%) all showing growth, unlike Connecticut. In November, 2017, the Connecticut Department of Labor reported that total payroll employment in the state had fallen below the level of February, 1989, according to CCEA.

“The dramatic reversal in fortunes for Connecticut, shifting from a decade and more of strong growth to a persistently contracting economy, is nearly unprecedented among state economies.  The next Governor and Legislature need to make a determined effort—absent to date—to understand what drove this climatic reversal of fortunes in Connecticut’s economy health.  Such an understanding is central to adopting policies and initiatives to reverse the state’s decline,” Carstensen argued.

The Connecticut Center for Economic Analysis (CCEA), under the direction of Carstensen, is a University Center located within the School of Business at UConn.  CCEA specializes in economic impact and policy analysis studies, as well as advising clients regarding business strategy, market analysis, and related topics.  CBIA’s research department, led by Goia, provides in-depth economic and policy analysis and survey research assistance to CBIA’s legal, insurance, and human resources divisions and member companies.

Connecticut-Grown Businesses Lead Stand-out Cohort of Entrepreneurial Start-Ups

reSET, the Hartford-based Social Enterprise Trust, whose mission is advancing the social enterprise sector and supporting entrepreneurs of all stripes, has announced the winners of its 2018 Venture Showcase, and three Connecticut-grown businesses took the top awards. The annual event recognizes the talented entrepreneurs and innovative businesses that have just graduated from reSET’s nationally recognized accelerator. This year, 18 early stage enterprises graduated from the most recent cohort, and eight finalists competed for $20,000 in unrestricted funding.  reSET’s goal is to meet entrepreneurs wherever they are in their trajectory and to help them take their businesses to the next level.

The entrepreneurs pitched their business models to an audience of founders, investors, and community and corporate stakeholders. The panel of judges included Claire Leonardi, former CEO of Connecticut Innovations; Alan Mattamana, Partner at Fairview Capital Partners; and Lalitha Shivaswamy, President of Helios Management Corporation.

Winning the top $10,000 award was Loki, which was created in a “group independent study” through UConn’s Digital Media and Design program by Andrew Ginzberg and co-founders Jeffrey Santi, Brian Kelleher, and Case Polen.  Described as “a new kind of media company” - a video sharing platform exclusively for smartphones - Loki is “a place where you can watch events through collections of many perspectives, live-streamed through the eyes of people actually there.”  The company’s website is welcoming people who would like to learn more to leave an email address.

Taking the second-place $6,000 award was Florapothecarie, a line of 100% natural + vegan skincare products, “lovingly handmade in Connecticut” by Sami Jo Jensen.  The line of products is certified vegan and cruelty-free by Leaping Bunny and PETA.

The third-place entrepreneurial business was Bare Life, launching a line of crave-worthy food products with the world’s first Organic, Vegan, Paleo, Non-GMO, Dairy Free, Gluten Free and Refined Sugar Free Hot Chocolate Powder.  Founded by local resident Ali Lazowski, who was put on a very restricted diet due to numerous medical conditions and learned first-hand how scarce allergen and irritant-free foods are. So, she set out to create them. Bare Life's mission is to make these allergen and irritant friendly foods and recipes convenient for everyone, especially the chronically ill.

The event was held last week at the YG Club at Dunkin’ Donuts Park to a sellout crowd of 225. Before selecting the 18 ventures that would participate in the Accelerator class, officials had reSET had to sift through an applicant pool that was the most competitive yet, with 110+ submissions from all over the world.  Since 2013, reSET has graduated 105 companies from its accelerator program and has awarded more than a quarter of a million dollars to scaling ventures.

The Superlative Award for “Most Improved Pitch” was won by FieldOwler, a new business that provides auditing and risk management software and solutions to help businesses, organizations, and agencies.  Other finalists were CNG Fit, LLC / Fit Party Me, Lioness Magazine, Noteworthy Chocolates, RecordME, and SKYWIREme .

The Accelerator program and Venture Showcase was made possible by reSET’s partners and sponsors, including  CTNext, The Hartford Foundation for Public Giving, Travelers, The Walker Group, Bank of America, The Hartford, GoodWorks Insurance, and People’s United Community Foundation.  SnapSeat Photo Booths also provided in-kind services.

reSET, the Social Enterprise Trust is a non-profit organization whose mission is to advance the social enterprise sector. reSET serves all entrepreneurs, but specializes in social enterprise ― impact driven business with a double and sometimes triple bottom line. In addition to providing co-working space and accelerator and mentoring programs, reSET aims to inspire innovation and community collaboration, and to support entrepreneurs in creating market-based solutions to community challenges.

Four Stores in CT Warned by FDA for Selling e-Cigarettes to Minors as Popularity, Concern Grows

The U.S. Food and Drug Administration has sent out warning letters to 40 retailers in 17 states  – including four in Connecticut - as part of a “concerted effort to ensure youth are not able to access” e-cigarettes – specifically responding to what officials describe as the “surging youth uptake” of JUUL products. According to the federal agency, those receiving the warnings in recent weeks included four Connecticut retailers: Discount Tobacco and Vape in Vernon, Mobil Mart in Waterbury, Shell/Henny Penny in Lisbon, and Smoker’s Outlet in West Hartford. The retailers were warned about selling the increasingly popular – but hazardous – products to minors.

The FDA explained that warning letters are sent to retailers the first time a tobacco compliance check inspection reveals a violation of the federal tobacco laws and regulations that FDA enforces.  During undercover buy inspections by agency representatives, “the retailer is unaware an inspection is taking place” and the minor and inspector “will not identify themselves.”

Published reports nationwide indicate that vaping is increasing rapidly in popularity with young people, especially with the most popular brand, JUUL. Its devices are tiny, and look like a pen or flash drive. When someone vapes, there is no fire, ash or smoky odor — instead, the devices heat up and vaporize a liquid or solid.  School bathrooms, where cigarette smoking was done in “secret” a generation ago, are now often referred to as “juul rooms” according to numerous reports – the nicotine fix of choice of the current generation.  A recent New York Times article prominently featured a description of the magnitude of the problem in a suburban Connecticut high school.

“The FDA has been conducting a large-scale, undercover nationwide blitz to crack down on the sale of e-cigarettes – specifically JUUL products – to minors at both brick-and-mortar and online retailers,” said FDA Commissioner Scott Gottlieb, M.D.

Gottlieb highlighted the danger – and the attraction – of the products to youth.

“We understand, by all accounts, many of them may be using products that closely resemble a USB flash drive, have high levels of nicotine and emissions that are hard to see. These characteristics may facilitate youth use, by making the products more attractive to children and teens.  These products are also more difficult for parents and teachers to recognize or detect. Several of these products fall under the JUUL brand, but other brands, such as myblu and KandyPens, that have similar characteristics are emerging.”

Businesses receiving the warning letters are directed to provide, within 15 days, “an explanation of the steps you will take to correct the violation(s) and prevent future violations (for example, retrain your employees, remove the problematic items, etc.),” the agency website points out.  In addition to federal restrictions, purchase/possession of an electronic nicotine delivery system or vapor product by persons under age 18 is prohibited in Connecticut.

The FDA also sent an official request for information directly to JUUL Labs, requiring the company to submit important documents to better understand the reportedly high rates of youth use and the particular youth appeal of these products.

Said Gottlieb: “We don’t yet fully understand why these products are so popular among youth. But it’s imperative that we figure it out, and fast. These documents may help us get there.”  The agency plans what it calls a “full-scale e-cigarette prevention effort” in the fall.

In addition, the FDA also recently contacted eBay to raise concerns over several listings for JUUL products on its website. eBay took what the agency described as “swift action to remove the listings and voluntarily implement new measures to prevent new listings” from being posted to the website.

CT Employment Lags New England States; Slight Job Growth is Anticipated

Connecticut has recovered the number of private sector jobs lost during the previous recession. However, during the past six years, Connecticut’s job growth has been significantly slower than the nation’s and that of our neighbor states, according to the new issue of The Connecticut Economic Digest, produced by the state Department of Labor. Between March 2012 and March 2018, Connecticut’s nonfarm employment is up 3.0 percent, with the private sector up 61,900 jobs (4.4%) and government employment down 12,100 jobs or 5.0%.  In total, Connecticut’s employment increase over the six-year period is the lowest among the six New England states, at 3 percent.  The others: Massachusetts, 10.1%; New York, 9.3%, New Hampshire, 8.0%; Rhode Island, 7.0%; Maine 4.8%; and Vermont, 3.2%.

Health Care and Social Assistance makes up the largest combined industry sector in the state, as in all of the New England states, comprising over 18 percent of Connecticut employment. In the past five years (year ending 2nd Quarter 2012 to 2nd Quarter 2017) Health Care has grown by approximately 5,000 jobs while Social Assistance has added nearly 10,000, according to the data.

Accommodation and Food Services is the third largest growing sector, adding more than 11,000 jobs from 2012 to 2017. This is consistent with changing consumer preferences and is also occurring at the national level, report authors Matthew Krzyzek, Economist, and Patrick Flaherty, Assistant Director of Research, at the Department of Labor, point out.

The occupational category of Transportation and Warehousing has seen strong growth in recent years. From 2012 to 2017, the sector has added nearly 5,000 jobs including 2,300 since 2015, largely due to online retailers such as Amazon adding warehouses and distribution centers in the state.  The consumer preference shift to online shopping is seen as responsible for the increase in Transportation and Warehousing employment, but has also negatively impacted Retail Trade, which lost jobs throughout 2017.

Manufacturing, the sector with the most losses since 2012, is down 8,600 jobs in the five-year period. Educational Services employment (public and private) which has long been a sector with employment growth, declined during the 2015 to 2017 period, influenced by decreases in school-aged population and state and local budget issues.

Current projections for Connecticut, for the two-year period from the second quarter of 2017 to the second quarter of 2019, suggest overall employment in Connecticut will increase by 1.1 percent. Connecticut’s projected 2017- 2019 job growth is slower than projected by most other states, although it is faster than the growth projected by seven states, including Delaware, Kansas and Maine, the Department of Labor review and analysis indicate.

Projections for the New England states range from anticipated growth of 2.9 percent in Massachusetts to .2 percent in Maine.  Connecticut’s expected job growth is second lowest among the six states.

Major Industries that are projected to have the largest percent employment increases are the Other Services, Leisure and Hospitality, and Construction sectors, which are projected to grow 3.0 percent, 2.4 percent, and 2.1 percent, respectively.

The occupational groups expected to increase the most are Personal Care and Service Occupations, up 3,664 jobs, Food Preparation and Serving Related, up 3,592 jobs, Transportation and Materials Moving Occupations, up 2,367 jobs, and Healthcare Practitioners and Technical, up 2,308 jobs, according to the analysis.  The three major occupational groups projected to decline over the two-year period are Office and Administrative Support, down 1,736 jobs, Sales and Related, down 979, and Production Occupations, down 160 jobs.

“Connecticut’s short-term projections show that Connecticut’s slow employment growth over the recent few years is likely to continue, and sectors will continue to shift. Manufacturing is picking up while Education expected to slow. Connecticut is also part of a national trend which sees increases in warehousing and transportation while retail is under pressure,” the analysis points out. “Our best judgment is that the rapid growth seen in early 2018 will moderate but that growth will continue through the end of the projections period.”

Pratt & Whitney to Receive State's Medal of Technology

Pratt & Whitney has been selected as the 2018 recipient of the Connecticut Medal of Technology in recognition of its accomplishments in creating the groundbreaking geared turbofan (GTF) technology with unprecedented reductions in fuel consumption and noise, representing an incredible technological achievement in mechanical engineering and aircraft propulsion. It marks the first time in recent memory that the Medal will be presented to a business; previous recipients have been individuals.  David B. Carter, Senior Vice President of Engineering will accept the award on behalf of Pratt & Whitney at the 43rd Annual Meeting & Dinner of the Connecticut Academy of Science and Engineering (CASE) on Thursday, May 24, 2018 at the Red Lion Hotel in Cromwell.

Pratt employs thousands of engineers and workers with headquarters, research and development organizations and production facilities in Connecticut. United Technologies Corporation, parent company of Pratt & Whitney, spent more than $10 billion on research before launching the GTF engine.

With more than 8,000 engines sold to date, the GTF represents several hundred billion dollars of economic activity in Connecticut over the next few years. Numerous airline customers have chosen Pratt & Whitney’s PurePower® turbofan engines because of the superior architecture and performance, as well as economic and environmental benefits.

“At Pratt & Whitney, we are in a very competitive industry and our continued success depends on our people driving innovation into every part, process and service,” said Carter. “Our customers have depended on Pratt & Whitney innovators literally for generations, and with the GTF, they can continue to count on us for the next generation.”

“From the smallest detail of our engine design to the last stage of our manufacturing line, they are continuously improving how our engines are designed, manufactured and serviced. In the GTF alone, we matured or invented at least 48 technologies to drive performance benefits and we have over 3600 patents and patent applications filed globally to protect our investment in innovative GTF architecture. These technologies go beyond the gear and include advancements to the fan blade, engine core, materials, monitoring systems and a host of others.

Pratt & Whitney has had a long-term commitment to and association with the State of Connecticut. “The State of Connecticut is proud to award the Connecticut Medal of Technology to Pratt & Whitney,” said Governor Dannel P. Malloy.

Malloy said that “Connecticut is the proud home of some of the nation’s most talented aerospace and defense manufacturers and suppliers, and Pratt & Whitney is certainly among them. This company continues to conduct cutting-edge aerospace research, providing exciting new opportunities for top engineering and science graduates from our state’s colleges and universities. We applaud Pratt & Whitney for their ongoing innovations and continued commitment to the State of Connecticut.”

The Connecticut Medal of Technology is awarded to individuals, teams, and companies/non-profits or divisions of companies/nonprofits for their outstanding contributions to the economic, environmental and social well-being of Connecticut and the nation through the promotion of technology, technological innovation, or the development of the technological workforce.

By highlighting the importance of technological innovation, the Medal also seeks to inspire future generations to prepare for and pursue technical careers to keep Connecticut and the nation at the forefront of global technology and economic leadership.

The Connecticut Academy of Science and Engineering was chartered by the General Assembly in 1976 to provide expert guidance on science and technology to the people and to the state of Connecticut, and to promote the application of science and technology to human welfare and economic well-being.

Modeled after the National Medal of Technology and Innovation, this award is bestowed by the State of Connecticut, with the assistance of the Connecticut Academy of Science and Engineering, in alternate years with the Connecticut Medal of Science.

The Connecticut Medal of Science was presented last year to Professor Robert Schoelkopf, Sterling Professor of Applied Physics and Physics and Director of the Yale Quantum Institute.  Previous Connecticut Medal of Technology recipients include Cato T. Laurencin (2016) Professor at the University of Connecticut andCEO, Connecticut Institute for Clinical and Translational Science, and Frederick J. Leonberger (2014), Principal of Ovation Advisors, LLC and Senior Vice President and Chief Technology Officer (ret.), JDS Uniphase Corporation.

For more information about the Academy, visit www.ctcase.org.

Business Summit in Hartford to Focus on Trends in CyberSecurity, Technology, Collaboration

The WorkSmart Hartford Summit, one of the largest complimentary Business and IT conferences in New England & New York, is all about staying ahead of the curve with business and technology. The Summit, to be held on May 10 at the Connecticut Convention Center, comes amidst heightened interest in cybersecurity and related IT issues. “We’re proud to work with our trusted partners to share a variety of perspectives on evolving business, IT and security trends, such as cybersecurity, compliance and regulations, business intelligence, data and analytics, team collaboration, cloud technologies and more,” conference organizers emphasized.

“WorkSmart is such a unique event because it evolves each year based on our clients’ business needs,” said Christopher Luise, Executive Vice President of ADNET Technologies. “Each year, our partners and subject matter experts from the ADNET team come together to share their knowledge with the business community. It’s exciting for us to be part of these interactive discussions that change the way people do business.”

The day-long event is produced by ADNET Technologies, a technology consulting firm with offices in Farmington, CT and Albany, NY. The company’s mission is to “connect people, process and technology to help our clients build a better business.”  Founded in 1991, ADNET “guides clients to better ways to connect, collaborate and compete in a global market.” This is the 13^th year ADNET has produced WorkSmart Hartford.

The Summit will feature nearly a dozen sessions and speakers, many from local businesses, highlighting best practices and latest developments in a range of technology arenas.

Morning keynote speakers Brian Foley, Deputy Chief of Investigations and Sergeant Johnmichael B. O'Hare, both of the Hartford Police Department, will speak about how the HPD uses cutting-edge technology combined with in-person police work to make the city safer. The "C4 Unit", or Capitol City Command Center, uses real-time web intelligence and social media monitoring to investigate leads, map criminal activity and proactively prevent crime.

Keynote Speaker Rob Thomas is a business development consultant, principal of Milford-based Rob Thomas CT and the creator of the Rob Thomas Method (RTM) of Networking, a step-by-step coaching process that helps professionals cultivate and grow business by building more effective relationships.  He will discuss how to grow business by identifying and building a network of effective relationships.

Included among the day’s sessions:

• Instead of simply trying to protect from the inevitable breach, organizations must adjust their focus and be ready to respond by mitigating their risk and liability should a security incident occur. In one session, Eric Monda, IT Security Analyst, Offensive Security Certified Professional and Certified Ethical Hacker at ADNET Technologies, will share best practices all organizations should implement prior to being affected by a security breach.
• Every major security breach will create some level of chaos initially; how long this chaos lasts is the true measure of an organization’s preparedness and ability to respond and recover from a cyber incident. A presentation by Robert Coro of Marcum will focus on Incident Response Planning and Playbook development.
• There are many layers of protection that can be implemented and not one is a magic wand that casts an impenetrable bubble around your data. In this session, Anthony Conti and Joanna Mack of Continuum will outline the present threat landscape, discuss the anatomy of an attack, common misconceptions, and how to work with your technology partner to manage risk.

There will also be a session on HIPAA compliance, changes in cloud options and data centers, how to automate processes to improve efficiency, and the ‘Global Cyber Arms Race.”

Joining ADNET in supporting the WorkSmart Summit are presenting sponsor Marcum LLP, as well as Continuum, SonicWall, SphereGen, Rob Thomas CT, Reduxio, ACT Group, Connecticut Society of CPAs, One Connect, Intermedia, Omni Data, Great America Financial Services and the West Hartford Chamber of Commerce.  More information and registration is available at https://worksmartsummit.com

2017 event photo by J. Fiereck Photography

Women’s Economic Status in Connecticut Among Best in Nation, But Still Insufficient

Women are faring better in Connecticut than in most states in the nation, according to a new analysis that focused on data in two central areas of everyday life – Employment & Earnings and Poverty & Opportunity. Connecticut ranked 4^th in the Employment and Earnings category, earning a B+, and 4^th in the Poverty and Opportunity category, with a B- grade.

Status of Women in the States is a project of the Institute for Women’s Policy Research, a comprehensive project that presents and analyzes data for all 50 states and the District of Columbia. The Institute suggests that the data can be used “to raise awareness, improve policies, and promote women’s equality.”

Connecticut’s grade for women’s Employment & Earnings, B+, has improved since the 2004 Status of Women in the States report.  Its grade for women’s Poverty & Opportunity, B-, has dropped since 2004.

In the subcategories of Employment and Earnings, Connecticut ranked Connecticut ranked 2nd in median annual earnings for women employed full-time, 5^th in the percent of all employed women in managerial or professional occupations, 13^th in the percent of women in the labor force, and 38^th in the earnings ratio between women and men employed full-time, year-round.

The Employment & Earnings Index measures states on women’s earnings, the gender wage gap, women’s labor force participation, and women’s representation in professional and managerial occupations. The top states were District of Columbia, Maryland, Massachusetts, Connecticut and New York.

Women working full-time, year-round have the highest earnings in the District of Columbia, where women’s median annual earnings are $65,000. Connecticut, Maryland, Massachusetts, and New Jersey are tied for second, with women in those states earning $50,000 at the median.

In the Poverty and Opportunity subcategories, Connecticut ranked 2^nd in the percent of women age 18 and older above poverty, 5^th in the percent of women age 25 and older with a Bachelor’s degree or higher, 10^th in the percent of women age 18-64 with health insurance, and 29^th in the percent of businesses owned by women.

New Hampshire, Connecticut, Maryland, and New Jersey have the highest rates of women living above poverty in the country at 89.2 percent, 88.4 percent, 88.1 percent, and 88.1 percent, respectively.

The report noted that women in Connecticut aged 16 and older who work full-time, year-round have median annual earnings of $50,000, which is 76.9 cents on the dollar compared with men who work full-time, year-round. Hispanic women earn just 47 cents for every dollar earned by White men, according to the report. According to the report’s analysis, if employed women in Connecticut were paid the same as comparable men, their poverty rate would be reduced by more than half and poverty among employed single mothers would be cut in half.

In Connecticut, 32.7 percent of businesses in 2012 were owned by women, up from 28.1 percent in 2007.  The report also indicates that 94.2 percent of Connecticut’s women aged 18 to 64 have health insurance coverage, which is above the national average for women of 89.4 percent.

The report, published in March 2018, concludes that “Women in Connecticut have made considerable advances in recent years but still face inequities that often prevent them from reaching their full potential.”

Small Business Administration to Honor CT’s Leading Small Business Owners

April M. Lukasik, President & CEO of Bright & Early Children’s Learning Centers, has been named the U.S. Small Business Administration’s 2018 Connecticut Small Business Person of the Year, SBA’s top award, Anne Hunt, SBA’s District Director, has announced. “We are extremely excited to honor a truly amazing line up of small business owners and champions this year, said Anne Hunt, SBA’s Connecticut District Director.  It is important to recognize these outstanding small businesses in the state as they are the job creators, innovators and the fabric of our local communities!” 

The slate of leading small business owners in Connecticut will be honored at the Annual Small Business Week Awards Luncheon at Anthony’s Ocean View in New Haven on May 3.  National Small Business Week is obsered April 29-May 5.

Bright & Early Children’s Learning Centers have four locations in Connecticut.  The business was founded in Middletown 2012 by Lukasik.  The mission statement describes the Center as “a child care and early education solution in a nurturing and scholastic environment where dedicated teachers are awakening young minds when it matters most.”  Old Saybrook, Branford locations followed, with West Hartford soon to open.

“We hope the small business community will join the SBA and our host, SCORE for an inspiring awards luncheon on May 3rd in New Haven,” Hunt added.

The 2018 Connecticut SBA Honorees are:

• Region 1 & Connecticut Manufacturer of the Year  Brian Weinstein, CHAPCO, Chester
• Region 1 & Connecticut Family-Owned Small Business   Charles Buck Jr., Buck’s Spumoni Company, Inc., Milford
• Exporter of the Year  Dennis Nash, Control Station Inc., Manchester
• Woman-Owned Small Business  Erin Emmons, Lucky Taco Cantina and Tap Room, Manchester
• Minority-Owned Small Business  Marilyn Ortiz, Borinquen Bakery, New Britain
• Veteran Owned Business of the Year Nicholas W. Wright, Unlimited Fun LLC., Prospect
• Home-Based Business of the Year Linda Longboardi, ReGift the Wrap, LLC., Glastonbury
• Young Entrepreneur of the Year  Alyssa DeMatteo, Wildflour Confections, Seymour
• CT Microenterprise Award  Stefanie Toise, At Once LLC., Vernon
• Financial Services Champion  Aaron M. Bohigan- Webster Bank, Hartford

Lukasik, founder of Bright & Early Children's Learning Centers, finds her roots in a family of entrepreneurs. Her grandmother owned and operated a nursing home that her parents later grew into a successful entity. She started off working in the family business, gathering experience and cultivating her passion of caring for others. After obtaining her Bachelors Degree in Marketing, she jumpstarted her entrepreneurial career, creating and operating multiple companies while gaining experience and insight into what it takes to build and grow a successful organization.

When her children were toddlers, she found herself searching for child care options that suited her needs and standards as a discerning parent… a safe, secure, nurturing, warm, home-like, educational, organized, and clean child care center. Not finding what she was looking for, she tapped into her entrepreneurial spirit to start her own child care center that met all of these standards.

The Young Entreprenuer of the Year, Alyssa DeMatteo, is a 26 year old Seymour resident who quickly gained popularity in southern Connecticut's cake and cupcake scene when she launched Wildflour Cupcakes & Sweets as a Facebook page in 2013.

Control Station was founded in 1988 and headquartered near the University of Connecticut. Control Station harnesses the creative energies of its surrounding, solving difficult plant monitoring and controller challenges facing process manufacturers with a broad portfolio of software-based solutions. Exporter of the Year Dennis Nash is President and Chief Executive Officer of Control Station, Inc.

Cantor Colburn Ranked #4 in U.S. for Utility Patents in 2017

Hartford-based Cantor Colburn LLP is the nation’s fourth largest patent firm, as ranked by issued patents, according to IP Watchdog, a leading intellectual property blog.  IP Watchdog compiled the list of about 800 U.S. patent firms based on the total U.S. utility patents that issued in 2017.  The ranking places Cantor Colburn in better than the top 1% of all U.S. law firms for productivity. Cantor Colburn has been a staple in the top ten rankings for utility patents, design patents, and trademarks for many years. The firm is one of the largest full-service intellectual property law firms in the country, with more than 100 attorneys and agents and offices in Hartford, Washington, D.C., Atlanta, Houston, and Detroit.

In 2016, Juristat reviewed law firm growth over the last decade and found that Cantor Colburn was the fastest growing U.S. patent law firm “by a significant margin.” In addition to being a patent powerhouse, Cantor Colburn assists clients with litigation, trademarks, copyrights, trade secrets, post grant review, including inter partesreview, and agreements of all kinds. Cantor Colburn’s strategic expansion has successfully seen it grow from a ten-lawyer firm in the 1990s.

“Cantor Colburn is able to sustain a high level of productivity and quality work because of the talent, experience, and dedication of many professionals at all levels,” said Philmore H. Colburn II, Co-Managing Partner of Cantor Colburn.  “Our clients depend on us to acquire quality patent rights quickly, and we are focused on getting those results.”

“Over the last 25 years at Cantor Colburn, we have focused on three things: high quality work, responsiveness, and value,” said Co-Managing Partner Michael A. Cantor. “It seems as though while much of the world is changing, these things remain constant.”

Cantor Colburn’s clients are among the leading companies in the country and around the world, including Fortune 100 companies, privately-held companies, select high tech start-ups, and universities.

Co-Managing Partner Michael Cantor also serves as Board Chair of Connecticut Innovations, the state’s strategic venture capital arm and the leading source of financing and ongoing support for innovative, growing companies.

The firm recently played a role, along with other key CEO’s in the region, in attracting InfoSys to Hartford.  The state Bond Commission last Friday approved $14 million in funding to bring the information technology and consulting firm to Hartford. Infosys has committed to hire 1,000 employees over the next four years in Hartford and establish a $21 million center to develop digital and other technologies for the insurance and health care industries and manufacturing.

Cantor Colburn has a thriving international practice, working closely with companies in Israel, Europe, Asia and the Americas. Michael Cantor has been teaching Patent Law and Procedure at University of Connecticut School of Law as an Adjunct Professor for more than 20 years.

Museums Have Significant Impact on State, National Economy, Report Concludes

Museums in Connecticut had a one-year total financial impact on Connecticut’s economy of $834 million, providing $556 million in income via wages and other income to state residents, generating $223.5 million in taxes (including $77.5 million in state and local taxes), and supporting just over 10,200 jobs – including 5,400 direct jobs, 1,877 indirect jobs and nearly 3,000 induced jobs. The data was compiled as part of a national report, Museums as Economic Engines, compiled the Alliance of American Museums. The report indicates that nationwide, museums support 726,000 jobs in the United States, and directly employ 372,100 people, more than double that of the professional sports industry, according to the Bureau of Labor Statistics, the Alliance points out.

The study, conducted by Oxford Economics with the support of the Andrew W. Mellon Foundation, shows that for every $100 of economic activity created by museums, an additional $220 is created in other sectors of the US economy as a result of supply chain and employee expenditure impacts, according to the report.  The data analyzed was from calendar year 2016, the most recent full year of data available.

These impacts mean that museums contribute approximately $50 billion to the US economy each year, a number that’s more than twice previous estimates, according to the Alliance.  The report is also the first to show that US museums generate more than $12 billion per year in tax revenue to federal, state, and local governments.

The report estimated that there are 372,100 museum workers employed in the US along with 3 million volunteers.  It also indicated that 89 percent of Americans believe that museums provide important economic impacts back to their communities, according to a public opinion survey conducted in 2017.

Nationally, the museum field’s largest economic impact is on the leisure and hospitality industry (approximately $17 billion), but it also generates approximately $12 billion in the financial activities sector and approximately $3 billion each in the education/health services and manufacturing sectors.

The top 10 states driving this impact are geographically diverse and account for 57 percent of the gross value added to the national economy. States with the highest economic impact from the museum sector included California ($6.6 billion), New York ($5.4 billion), and Texas ($3.9 billion). However, those that rely most heavily on museums due to their relatively higher concentration, the report indicated, include the District of Columbia, Hawaii, Wyoming, and Alaska.

In breaking down the jobs impact of museums, direct impact refers to direct employment and spending by the industry’s business operations; indirect impact includes supply-chain effects, stemming from industry’s operations (e.g. legal services, utilities, etc.) and induced impact describes the impact resulting from employees spending their incomes in the economy.

The American Alliance of Museums (AAM), founded in 1906, now represents more than 35,000 professionals and volunteers, institutions, and corporate partners in the sector.