Cigna Looks to Invest in Start-up Insurance Ventures, Establishes $250 Million Fund

Health services organization Cigna has launched Cigna Ventures, a corporate venture fund with an infusion of $250 million in capital to be invested in healthcare technology startups and early-stage companies. Cigna has committed $250 million of capital to Cigna Ventures, according to officials, to invest in promising startups and growth-stage companies that are unlocking new growth possibilities in health care and will bring improved care quality, affordability, choice, and greater simplicity to customers and clients. Cigna Ventures is focused on companies across three strategic areas: insights and analytics; digital health and retail; and care delivery/management.

“Cigna’s commitment to improving the health, well-being and sense of security of the people we serve is at the front and center of everything we do,” said Tom Richards, senior vice president and global lead, strategy and business development at Cigna. “The venture fund will enable us to drive innovation beyond our existing core business operations, and incubate new ideas, opportunities and relationships that have the potential for long-term business growth and to help our customers.”

Cigna Ventures was created to help Cigna identify, assess and sponsor early-stage innovation ideas that warrant deeper exploration through focused pilot and test-and-learn activities with the goal of realizing meaningful business value.  The initiative’s newly launched website suggests that “Cigna Ventures is the strategic corporate venture capital partner of choice in the health care industry. We work closely with entrepreneurs to accelerate growth and innovation through strategic use of capital and deep partnerships.”

Companies in the portfolio, according to published reports, include Omada Health, a digital therapeutics company treating chronic diseases; Prognos, a predictive analytics company for healthcare; Contessa Health, a home-patient care service; Mdlive, which provides remote health consultations; and Cricket Health, a special kidney care provider.

CIGNA’s interest in the rapidly-evolving health care field is also reflected in the company’s membership, presence, and investment in insurance technology start-ups at Upward Hartford, the co-working and innovation center in Hartford that was the site of the city’s inaugural Insurtech Hub earlier this year, and is now home to the winning participants in Hartford’s first annual insurance accelerator, held in April.

Amidst the start-ups are a number of Hartford’s longstanding insurance giants, including Cigna.

Bloomberg reported last week that overall investment in health-care startups has increased this year. According to the MoneyTree Report from PricewaterhouseCoopers and CB Insights, $10.6 billion was invested in health-care deals in the first half of this year. Two of the seven largest venture-capital rounds in the second quarter involved health-care firms, the report shows.

“Our partnership with Cigna has been about so much more than capital,” said Sean Duffy, co-founder and CEO of Omada. “The ability to collaborate with, learn from, and integrate deeply with a health services company so dedicated to delivering a 21st-century care experience to its customers and clients has enabled us to accelerate innovation, advance our capabilities, and grow our customer base.”

Cigna Corporation and Express Scripts received approval this week from the Antitrust Division of the United States Department of Justice for their pending $50 billion plus merger, which is expected to close by year’s end. “Quality health care and competitive pricing for health care services and pharmaceutical drugs is critical to U.S. consumers,” said Makan Delrahim, the head of the antitrust division, in a statement announcing approval of the deal.

CT's Blockchain Working Group Strives to Drive State Policy in Emerging Field

It was established in the final hours of the 2018 legislative session, and held its first meeting the following month, back in June.  Special Act 18-8 created Connecticut’s Blockchain Working Group, with little fanfare and less notice.  The objective:  make recommendations to the incoming 2019 legislature that will “help promote innovation and economic growth by reducing barriers to and expediting the expansion of the state's blockchain industry.” While the Task Force was getting started, another blockchain initiative was grabbing headlines.  Seven Stars Cloud announced in early  July that it was planning to purchase the former University of Connecticut campus in West Hartford to develop a $283 million financial technology hub that would attract more than 50 companies, along with a research institute and training center, with blockchain technology being the centerpiece.

Local zoning approvals are pending, and the state has agreed to loan the company $10 million for renovations to the 58-acre property, and to forgive the loan if the company employs 330 people there over five years. In late August, the company changed its name to Ideanomics.

The legislation calls for the leaders of the legislature’s Commerce Committee – Republicans and Democrats – to  jointly appoint and convene a working group to develop a master plan for fostering the expansion of the blockchain industry in the state and recommend policies and state investments to make Connecticut a leader in blockchain technology. It calls for the “master plan” to:

• Identify the economic growth and development opportunities presented by blockchain technology;
• assess the existing blockchain industry in the state;
• review workforce needs and academic programs required to build blockchain expertise across all relevant industries; and
• make legislative recommendations that will help promote innovation and economic growth by reducing barriers to and expediting the expansion of the state's blockchain industry.

A final report and recommendations is due on January 1, 2019.

The Working Group, which met initially on June 28 in Stamford, is chaired by Nick Kammerman of Westport-based Chateaux.  Members include David Noble (UConn Business School), Don Tirea (Checkmate Inc.), Jamil Hasan (Blockchain Consultant), Kevin Hart (Green Check Verified), Emily Goodman Binick (Blockchain Consultant), Margaret Feeney (Nat West Markets), Bryant Eisenbach (DappDevs), Spencer Curry (Trifecta Ecosystems), Philip Bradford (UConn Engineering School) and Stephen Ehrlich (Crypto Trading Technologies).  Legislators participating in the Working Group are Senators Joan Hartley and L. Scott Frantz and Representatives Caroline Simmons and Dave Yaccarino.  State Economic and Community Development Commissioner Catherine Smith serves as an ex-officio member.

Among the tax treatments the Working Group discussed preliminarily at the meeting, according to the  official Minutes,  were creating “tax incentives for companies that create blockchain products or use them who are currently in the state or coming to the state,” “changing laws to give blockchain industries access to banks in order to pay taxes,” and “figuring out how the state of Connecticut can implement a system to help blockchain/cryptocurrency companies and individuals pay taxes and fees.”

Testifying in support of the legislature this spring, Spencer Curry, CEO and co-founder of Trifecta Ecosystems, explained that “blockchain stands to revolutionize global industries by creating new revenue models and driving costs down on existing revenue models, automating processes with smart contracts, increasing traceability/visibility, and hardening security to malicious attackers.”

Supriyo B. Chatterjee of West Hartford noted that “blockchain has arrived in the Connecticut industries andwith it brings high-vbalue jobs that will contribute significantly to the Connecticut economy.” He pointed out that blockchain will have a “profound effect on the health sciences industry,” as well as the insurance industry and STEM jobs, and will “fundamentally change the distribution of goods and services worldwide.”

Curry went on to suggest that “supporting this technology will benefit Connecticut’s workforce through an infusion of excellent talent from around the world.  If the State does not embrace blockchain technology, it … will only hasten the corporate flight from our state.”  He said that “if the State chooses to empower companies exploring blockchain technologies, then a new wave of prosperity and success awaits these tried and true Connecticut industries,” such as insurance, advanced manufacturing, healthcare, financial, agriculture and military supply chain.

Commissioner Smith, one of the seven people to submit testimony on the bill, told the Commerce Committee at the March public hearing that the department lacks “the in-house expertise to conduct an informed analysis” of “all facets of blockchain technology.” The original version of the bill included $200,000 allocation for the Department of Economic and Community Development to conduct the study.  The Senate amendment eliminated the funding allocation.

Don Tirea of DappDevs indicated that a blockchain initiative that “incentivizes research and development for enterprises and startups, coupled with a highly skilled tech talent pipeline is a recipe for economic revitalization across Connecticut’s historic industries.  He added that embracing blockchain technology would create a “shift in our nation’s perspective of Connecticut’s ability to innovate”

Co-sponsors of the original legislation (Senate Bill 443), which was later amended in the Senate, included Senators Michael McLachlan, Heather Somers, Scott Frantz, and George Logan.  House co-sponsors included Caroline Simons, Michael Winkler, Livvy Floren, Laura Devlin and Linda Orange.

DataHaven to Launch Innovation Awards to Recognize Data-based Initiatives in CT

In conjunction with its 25th anniversary celebration this year, New Haven-based DataHaven has announced plan to launch the DataHaven Innovation Awards, which will be open to nominees from throughout the state. Winners will be selected in a number of education and community impact categories. Nomination will be accepted through October 1, and the award recipients will be announced at DataHaven’s 25th Anniversary Celebration on November 19, 2018. DataHaven is a non-profit organization with a history of public service to Greater New Haven and Connecticut. The organization’s mission is to improve quality of life by collecting, sharing, and interpreting public data for effective decision making.

“We are proud to highlight the creativity and ingenuity of those who employ data to make Connecticut a better place,” explained DataHaven Executive Director Mark Abraham. The awards will recognize organizations, groups and individuals who have demonstrated the ability to use data to improve the well-being of Connecticut communities.

The inaugural Data in Education Awards will recognize the outstanding use of data for projects developed within a classroom or educational setting. Nominations will be accepted in two categories, University and Graduate Level and K-12 Level.  Nominees can include teachers, students, school-based organizations, and non-profits working with youth.

The Data for Community Impact Awards will recognize the outstanding use of data to make a positive difference in one or more Connecticut communities. Nominations will be accepted in two categories: Large Organization, with more than 20 employees, and Small Organization, with less than 20 employees.  Nominees can include nonprofits, for-profits, funders, unincorporated groups, and municipal/state agencies.

Liberty Bank Foundation is underwriting the DataHaven Innovation Awards.

DataHaven maintains extensive economic, social, and health data, including information collected through the DataHaven Community Wellbeing Surveys in 2012 and 2015. DataHaven is a formal partner of the National Neighborhood Indicators Partnership of the Urban Institute in Washington, DC.

“We believe that data is a powerful force, uniting our state and helping make life better in Connecticut communities,” says Abraham. “Our statewide survey provides neighborhood-level data in key areas such as health, education, civic engagement and economic opportunity, so that programs and resources can be deployed to change lives for the better. Our goal is still to make life better for our neighbors.”

Presenting sponsors for the organization’s 25^th anniversary year are the City of New Haven, Yale University, Yale New Haven Health and The Community Foundation for Greater New Haven.  Nomination forms for the DataHaven Innovation Awards can be found at http://www.ctdatahaven.org/anniversary and are due by October 1, 2018.

Norwalk Joins Sustainable CT Effort

Norwalk is the latest Connecticut municipality to join Sustainable CT, a statewide initiative that offers detailed array of sustainability best practices, tools and resources, peer learning, and opportunities for recognition.The Sustainable CT platform supports a broad range of actions, such as improving watershed management, supporting arts and creative culture, reducing energy use and increasing renewable energy, implementing “complete streets” (streets that meet the needs of walkers and bikers as well as cars), improving recycling programs, assessing climate vulnerability, supporting local businesses, and providing efficient and diverse housing options.   “I am delighted the city has joined Sustainable CT in our latest efforts to develop and implement sustainability and renewable energy initiatives in Norwalk,” said Mayor Harry Rilling. “Being energy conscience is the right thing to do as we all have a moral obligation to lessen our environmental impact. I am glad the city has taken a leadership role and joined this important sustainability initiative.”  Norwalk’s Council approved the resolution to join Sustainable CT in mid-August and designated the Common Council Planning Committee as the “Sustainability Team” for the program. Norwalk was officially registered with Sustainable CT on August 24.

The Sustainable CT initiative was developed under the leadership of the Institute for Sustainable Energy at Eastern Connecticut State University in partnership with the Connecticut Conference of Municipalities.

There is no cost to participate and communities voluntarily select actions that meet their unique, local character and long-term vision. After successful implementation of a variety of actions, municipalities will be eligible for Sustainable CT certification. According to the organization’s vision statement, “Sustainable CT communities strive to be thriving, resilient, collaborative, and forward-looking. They build community and local economy. They equitably promote the health and well-being of current and future residents, and they respect the finite capacity of the natural environment.”

“We are thrilled that Norwalk has passed a resolution to join Sustainable CT. The program builds on many current success stories in our communities to create and support more great places to live, work, and play,” said Lynn Stoddard, Director of the Institute for Sustainable Energy. “We are looking forward to working with the city as they pursue Sustainable CT certification."

The town of Thomaston joined the initiative in July. Three Connecticut philanthropies - The Emily Hall Tremaine Foundation, the Hampshire Foundation, and the Common Sense Fund – have supported the program's development and launch.

Occupational Illnesses Remain High in Connecticut, Report Finds

Occupational illnesses remain a serious and under-reported issue in Connecticut, with a rate 6 percent higher than the national average, according to a new report issued by UConn Health.  The latest data shows a reporting of over 7,500 occupational illnesses, with up to an estimated 25,000 cases going unreported. The highest number of cases reported were in Farmington, Hartford and Cromwell. The newly published Occupational Disease in Connecticut, 2018 report examined the latest 1997-2016 data, based on reports of individuals filing for workers’ compensation, physician reports to the Occupational Injury and Illness Surveillance System, and the ConnOSHA/BLS survey of employers.

Connecticut’s illness rate ranked 15th highest out of 41 states with publishable data (fourteen states had higher rates and 26 had lower rates). Maine had the highest rate of 38.8 and Texas had the lowest at 9.8. Private sector rates for occupational illness were 15.0 in Connecticut and 14.1 nationally. Connecticut’s public sector rate was 35.7; the U.S. public sector rate was 31.6, according to the report.

The Connecticut data revealed reports of 7,675 unique occupational illnesses.  Most frequent were 3,430 musculoskeletal cases (such as sprains, Carpal Tunnel Syndrome, and tendonitis), and 2,408 infectious diseases (such as bloodborne diseases and exposures, meningitis, and Lyme Disease).  In addition, the data indicated there were 431 respiratory illnesses (such as chemical exposures, asthma, and poisonings), 313 skin disorders (such as poison ivy and chemical dermatitis), 115 cases of hearing loss, and 978 “other illnesses” (such as heart conditions, stress, and dizziness).

The OSHA/BLS survey shows a rate of 17.4 cases per 10,000 workers in Connecticut, 6 percent higher than the national rate of 16.4. The report focuses on chronic job-related illnesses, and does not include acute traumatic injuries. Overall, approximately 49% were for women, but this varied by type of case, with women accounting for 66% of infectious cases. Based on workers’ compensation reports of occupational illnesses, there were similar proportions (between 20%-25%) for workers in their 20’s, 30’s, 40’s and 50’s.

Rates of occupational illnesses varied widely across Connecticut towns and cities. Based on workers’ compensation reports from towns with at least 25 cases, the 10 highest rates were found in Farmington (126 cases per 10,000 workers - almost 4 times the rate as the state average), Hartford (89), Cromwell (89), Groton (85), Westbrook (84), Windsor Locks (73), East Windsor (63), Cheshire (61), Stratford (60), and Middletown (58). The town average across the state was 33 cases per 10,000 workers.

These higher town rates often reflect the locations of large employers in higher hazard industries, and may also reflect better reporting of cases, since cases of occupational illness are often not reported, the study points out.

Based on workers’ compensation reports, the highest rates of occupational illnesses were found in the industries of beverage and tobacco product manufacturing (170 cases per 10,000 workers), computer and electronic product manufacturing (131), primary metal manufacturing (112), state government (103), local government (81), transportation equipment manufacturing (59), electrical equipment manufacturing (57), miscellaneous retail stores (51), fabricated metal product manufacturing (49), and hospitals (46).

The highest specific sector rate, according to the report, was State Government with 41.8, with the highest rates for skin conditions (17.7) and lung conditions (7.9).  Local Government was second with 32.1, and Utilities third highest rate with 31.8.

Each year the report is prepared for the Connecticut Workers’ Compensation Commission by occupational and environmental health expert Tim Morse, professor emeritus at UConn Health. The 53-page report is part of the Occupational Injury and Illness Surveillance System, a cooperative effort of the Connecticut Workers’ Compensation Commission, the Connecticut Department of Public Health, and the Connecticut Labor Department.

The system is designed to track occurrences of work-related disease, with an eye to understanding patterns and developing approaches to prevent occupational illness.

“We must take stronger actions to improve the employee work safety experience and environment, with improvements in ergonomics, safe needle devices in health care, reducing mold and increasing fresh air flow in indoor environments, providing education on toxic chemicals, and increasing the recognition of such hazards as poison ivy,” Morse told UConn Today.

Morse and UConn Health researchers analyze survey responses and occupational illness reports from the State Labor Department/Bureau of Labor Statistics (BLS) survey; the first reports of injury to the Connecticut Workers Compensation Commission; and health provider reports to the Connecticut Departments of Labor and Public Health under the Occupational Illnesses and Injury Surveillance System.

Want to Live at the Mall? It Could Happen – in Trumbull

The Westfield Trumbull mall’s unusual request for a zoning change that would allow it to build 290 apartments on its 76-acre site may be the harbinger of things to come for suburban malls.  The plan was the subject last month of a Trumbull Planning & Zoning Commission hearing; a final decision is pending. The 290 units are planned to be one or two-bedroom apartments, with the opportunity to rent a garage and/or a storage space. The buildings will be on slabs, four stories high, with elevator access. Developers are hoping for a clubhouse, with a gym and common meeting room, and a pool.

The units would be marketed to professionals, young couples and older couples looking to stay in Trumbull, but not in a single-family home.  The plan is a trimmed down version of a proposal floated in the spring that would have developed 580 units.

Mall housing?  Nina Fuhrman, head of retail strategy at global design company IDEO, noted that “As we see the lines blurring between where you work and where you play and where you live, we’re going to see more residences and office spaces attached to malls.”

Trumbull may provide a glimpse into a trend gaining traction.  In a feature article last May in Business of Fashion, Westfield’s development of mall-adjacent residential properties was described as “a no-brainer because doing so will not only create a revenue stream from rent, but will also increase foot traffic to stores.” Already, Chief Operating Officer Bill Hecht told the publication, “the residential buildings in close proximity to our malls can charge slightly above market rent, because they have access to all our amenities close by.”

Trumbull First Selectman Vicki Tesoro has expressed reservations, encouraged public comment, and kept an open mind. In a public statement, she “expressed an understanding that malls throughout the country are reinventing themselves out of necessity. We, as a town, should work with them to the extent possible in that process. The mall is our largest taxpayer, and its success is a shared goal.”

In Bethesda, Maryland, Westfield plans to close a Sears store at the Westfield Montgomery Mall within the next year and is looking to launch a major mixed-use development on its piece of the property. The first phase, according to a report published by Bisnow, is expected to be completed by 2022, and would create 170K SF of new retail space with 350 to 360 apartments above, plus a health club. After that, Westfield would build an additional 300 units and 130K SF of retail and hotel space.

Jim Agliata, Westfield’s vice president of development, told Bethesda magazine earlier this year that the project represents the next phase of Westfield Montgomery’s emergence as a “lifestyle destination.”

Business Association Launches Campaign Urging Candidates to "Fix Connecticut"

Connecticut’s largest business association is launching a statewide advertising blitz to exert its voice in the political debate in the aftermath of the state’s primaries as the focus turns to the November elections.  CBIA will on focus on raising public awareness of what it describes as the critical issues and challenges impacting the state's economic future and job growth. The campaign, called “Fix Connecticut” will include digital, broadcast, and print advertising and will run into the 2019 General Assembly session and beyond, officials said.  It includes a website, fixconnecticut.com, and a video that acknowledges some progress made since the 2016 election, noting that "our state's economy is better than it was," but stresses that "we have a long way to go."

“High taxes, job growth, and a sluggish economy are the top concerns for Connecticut residents and must be priorities for lawmakers and candidates for elected office," CBIA president and CEO Joe Brennan said, echoing the video's urging "we need lawmakers that have a plan" to make the state more affordable, cut state spending and "help us compete with other states in the region."

The advertising campaign may also serve as a precursor to anticipated endorsements of candidates by CBIA in statewide and local legislative races.  In 2016, CBIA endorsed candidates in 22 of 36 State Senate races, urging the election of 4 Democrats and 18 Republicans.  There were also endorsements made in 85 of 151 House districts, including 23 Democrat and 62 Republican candidates.  Those endorsements came in mid-September two years ago.

“Lawmakers and candidates must understand what really matters to Connecticut and we want residents to understand how critical these issues are to the state's economic future,” Brennan added.  “We want to make sure those issues are front and center during what we believe is a make-or-break time for Connecticut.

The Fix Connecticut campaign centers on a five-point plan that outlines key policy steps designed to remove barriers to economic growth and leverage the state's many strengths, according to CBIA:

• Prioritize Economic and Job Growth. Help businesses compete for talent, expand private-public workforce development initiatives, and continue strengthening high school and college programs to meet the needs of our 21st century economy. The best way to solve the state's fiscal problems is to grow the economy.
• Cut State Spending. Reduce the size and cost of government, privatize appropriate state services, expand the use of non-profit agencies, and put the brakes on spiraling overtime costs.
• Make Connecticut More Affordable. That starts with lowering taxes. Connecticut's personal income, business, and property tax burden is one of the highest in the country—a key factor behind the state's population decline, including the loss of billions of dollars in income.
• Reform the State Employment Retirement System. Align state employee compensation and benefits with Northeast states' public sectors and the private sector and end the use of overtime in calculating pensions.
• Improve Connecticut's Business Climate. Reject costly, burdensome workplace mandates, cut unnecessary red tape, block new taxes and fees that drive up healthcare costs, reform the state's unemployment compensation system, and overhaul transportation infrastructure.

"State lawmakers' actions have a far greater impact on our daily lives, our workplaces, and our economy than decisions that are made at the federal level.  With so much attention on national politics, we cannot lose sight of the critical issues impacting Connecticut,” Brennan pointed out, noting that the campaign will complement CBIA's advocacy efforts during the next legislative session, which begins in January.

https://youtu.be/1UTTqLaVpUI

4 Renowned CT Manufacturers to be Inducted into Hall of Fame; Timex, Cheney Brothers, Farrel, Handy & Harman to be Honored

Timex Group USA (Middlebury), Cheney Brothers (Manchester), Farrel Corporation (Ansonia), and Handy & Harman (Fairfield) will be inducted into the American Manufacturing Hall of Fame in Connecticut this fall, in the fifth annual ceremony. The American Manufacturing Hall of Fame (AMHoF) celebrates the innovative history of American manufacturing, raises funds for educational programs and promotes awareness of advanced manufacturing, which is critical to the economy.

The Hall of Fame is affiliated with the Housatonic Community College (HCC) Foundation in Bridgeport, which also serves as fiduciary.  BlumShapiro will serve as the Founding Platinum Sponsor of the ceremony for the fifth consecutive year. The 2018 AMHoF Induction Ceremony will take place on October 9 at the Trumbull Marriott.

The AMHoF has also announced that Robert Klancko is the recipient of its 2018 Leadership Award. Klancko has been a manufacturing leader in Connecticut’s manufacturing community for several decades. He has been a partner in his consulting firm of Klancko & Klancko LLC, and held key managerial positions for 20 years in the brass industry and another 15 years in the utility industry.

Timex began as the Waterbury Clock Company in 1854, and initially gained success with its dollar pocket watches. Renamed Timex in 1941, the renowned world-wide brand has its headquarters in Middlebury.  Cheney Brothers was a center of the silk industry in the late 19th and early 20th century in Manchester.  The 175-acre historic district in Manchester, includes over 275 mill buildings, workers houses, churches, schools and Cheney family mansions.

Founded in 1848, Farrel Corporation is based in Ansonia. During the American Civil War, they produced bayonets and cannon barrel.  Today, they manufacture process equipment for the plastics industry, and employ roughly 100 people.  Handy & Harman leveraged an early market advantage in silver bullion through acquisitions to provide not only bullion but alloys and prefabricated silver bands, wires, and moldings, as well as reclamation services to leading jewelers.

Klancko has contributed tirelessly to the field of technical education since 1972. He served as an educator at both the former Hartford Graduate Center and Waterbury State Technical College, and more recently at Mattatuck Community College. More recently, Klancko worked to educate educators in the Materials Manufacturing Summer Teachers' Institute at Southern Connecticut State University. He has also chaired and co-founded Environmental Studies and Materials Technology Advisory Committees at a number of state public and private colleges.

2017 inductees into the American Manufacturing Hall of Fame were Better Packages, MacDermid Performance Solutions, R.C Bigelow, Stanley Black & Decker and Ulbrich Stainless Steels & Specialty Metals. In 2016, the inductees were Bead Industries, The Benedict & Burnham Mfg. Co.; C. Cowles & Co., Chance Vought & Platt Brothers & Co.

The manufacturing firms added to the Hall in 2015 were Bridgeport Brass, Moore Tool, Inc. and Wheeler & Wilson/Singer, from Bridgeport, and A.C. Gilbert, Brewster Carriage and Auto and Sargent Co., from New Haven.  In the inaugural year of the Hall of Fame, the inductees were Bridgeport Machines, Bullard Machine Tool, Hubbell, Inc., Sikorsky Aircraft Corporation and Warner’s.

The American Manufacturing Hall of Fame is comprised of “a group of passionate citizens and manufacturers who believe it is important to appreciate and understand the proud history of American Manufacturing as a catalyst to take advantage of the distinct opportunities that advanced manufacturing can bring to American lives today and in the future.”  It was launched in Bridgeport at HCC, because the city was a “hub of manufacturing leadership and innovation in America for over a century, the organization’s website points out.

The site highlights that the first practical submarine, the first practical carbon electric light bulb filament, the modern automobile assembly line and the first robot all have their roots in, or were invented, in Bridgeport.

Any company engaged in manufacturing for at least ten years can be considered for induction. Companies considered have made “significant contributions to the field of manufacturing either by innovation, the improvement of a manufacturing process or by creating a product that has advanced humankind.”

Founding sponsor BlumShapiro is the largest regional accounting, tax and business advisory firm based in New England. The HCC Foundation was founded in 1990 to provide financial assistance to the College and its students beyond the fundamentals provided by the State of Connecticut.  Tickets to the induction ceremony event are now available.

2017 Was A No-Growth Year for CT Hotel Industry; 2018 Brings Lower Rates

The Connecticut Lodging Association reports that the state’s hotel and lodging occupancy numbers were flat in 2017, with “little to no growth.”  The state’s occupancy numbers have “considerable room to grow” this year, in comparison to the New England Market.  The membership association also notes that one of the traditionally strongest regions of the state, the Stamford market, declined in 2017, while the neighboring New York market remained stable. “The Stamford market historically has the highest occupancy numbers in Connecticut,” officials point out, noting that “with business travel, leisure and New York City overflow, this market is generally stable and measure equal occupancy to New England’s numbers.  That wasn’t true in 2017, and they warn that “Stamford’s declining trend may be a forecast for other Connecticut markets.”

Overall, data for Connecticut compiled by the American Hotel & Lodging Association indicate that the state’s 400 properties in the hotel industry generate 55,000 hospitality jobs and 27,00 hotel hobs, which result in $4.4 billion guest spending at hotels, local businesses and on transportation.  The industry contributes $5.1 billion to GDP.

Connecticut has the highest combined lodging and sales tax in the nation at 15 percent, according to HVS Convention, Sports & Entertainment’s most recent state-by-state study in 2017, one of just five states in double digits along with Maine, Hawaii, Rhode Island and New Jersey.

Adding in local lodgings taxes in many cities nationally — Connecticut law does not allow it — 34 cities have higher combined rates than in Connecticut, HVS determined, none in the Northeast. St. Louis led the nation in 2017 at nearly 18 percent, with New York City highest in the Northeast with a 14.75 percent rate that is only a fraction below that of Connecticut, Hearst newspapers recently reported.

Earlier this month, a survey by BostonHotels.org found that Hartford and Stamford hotels offer the lowest rates for travelers in New England, with hotel stays averaging $107 per night in the Capitol City and $126 in Stamford. Among the other New England cities with low hotel rates are in North Conway, N.H. ($117), Groton ($119), and Lincoln, N.H. ($124).

The survey reviewed hotel rates at 30 popular destinations in New England during August. Hotels in New Haven ranked 19th (most expensive in Connecticut) with rooms averaging $174 a day and Mystic at 21st with rooms costing $168.

The most expensive in New England?  Martha's Vineyard, Mass. ($362), Kennebunkport, Maine ($347), Chatham, Mass. ($324), Portland, Maine ($294) and Provincetown, Mass. ($284). Boston ranked 9^th, at $224.

39 CT Companies Among 5,000 Fastest Growing in U.S.: Inc.

A total of 39 Connecticut companies are among the 5,000 fastest-growing private companies in America, according to the 2018 ranking published by Inc. magazine. Leading the way are Southbury-based Current Staffing Solutions (#133), InGenius Prep (#657), a New Haven business, ONE SOURCE Companies of Wallingford (#824) and Votto Vines Importing (#911) headquartered in Hamden. Stamford Technology Solutions (#919) was the only other Connecticut-based company to earn a spot in the top 1000.

Collectively, the companies on this year’s list, according to Inc., amassed $206.2 billion in revenue in 2017, up 158 percent from $79.8 billion in 2014. Last year's list included 34 Connecticut companies.

No company on the 2018 Inc. 5000 list has grown by less than 50 percent over the past three years. To make the even more exclusive Inc. 500 list this year – as one Connecticut business did - a company had to grow by more than 1,000 percent.

Only about 12 percent of American companies achieve one-year revenue growth of 25 percent or more, according to Inc., yet those are the companies that are responsible for half of all jobs created.

Companies on the 2018 Inc. 500 were ranked according to percentage revenue growth from 2014 to 2017. To qualify, companies must have been founded and generating revenue by March 31, 2014. They must be U.S.-based, privately held, for-profit, and independent--not subsidiaries or divisions of other companies--as of December 31, 2017.

Bill Evans is President of Current Staffing Solutions, an industry leader offering a full variety of staffing options.  The company was founded in 2012.  The company website notes that “as a Disability Owned Business, you will find we are not your typical recruiting agency.” Evans was diagnosed with Early Onset Parkinson's Disease.  The company’s 3-year growth, according to Inc.: 2,987 percent.

The goal of InGenius Prep is to “get you in the school of your dreams, and we have a spotless track record.”  The company’s website indicates that the company is led by “Admissions Experts - Former Deans of Admissions and Grads of Top Universities - who will bring your dream schools into reach.”

Among the 39 Connecticut companies, the largest employee growth was at Inspira Marketing, a Norwalk-based “experiential marketing agency that specializes in forging connections between brands and consumers,” which added 631 jobs.  The top revenue generator among the companies based in the Nutmeg state was Carla’s Pasta, with $116.5 million in revenue in 2017.

A total of 24 Connecticut companies earned a slot in the first 3,000: Current Staffing Solutions (133), InGenius Prep (657), ONE SOURCE Companies (824), Votto Vines Importing (911), Stamford Technology Solutions (919), Julia Balfour (1129), Inspira Marketing (1180), MediaCrossing (1189), The Pi Group (1196), GEM Advertising (1258), Port One (1562), Port One (1562), Laurel Road (1801), Alliance All Trades (1919), The Lockwood Group (2042), Health Products For You (2043), Leap the Pond (2333), northeast Private Clint group (2598), The Junkluggers (2743), NEOS (2863), Buyers Edge (2841), Avanta Systems USA, (2897), Charles IT (2934) and i2e Consulting (2975).

The other companies from Connecticut among the top 5,000 are: IMPACT Branding & Design (3127), Metropolitan Interacrtive (3194), Framework Solutions (3216), heartsmart.com (3258), Choice Merchant Solutions (3343), Bizzmark (3693), CME Associates (3745), Kyber Security (3832), Torque Technologies (4451), Carla'sPasta (4567), Frsh Green Light (4596), FCP Euro (4750), Fosina Marketing Group (4840), SCIO Health Analytics (4908), Strategic Sales (4959), and Mediassociates (4979).

(Note:  a previous version of this story inadvertently indicated 59, rather than 39, Connecticut companies, although the list of companies correctly included 39.)