Million Dollar Packages Routine Atop Connecticut Hospitals, CEO’s Receive Highest Pay at 26 of 30

Newly released data from the state Office of Health Care Access, which regulates hospitals in Connecticut, reflects that 18 Connecticut hospital executives received pay packages of over $1 million during fiscal year 2012.

Leading the top-compensated list – and exceeding $1.5 million in total compensation for their highest paid individual staff member - were William Backus Hospital ($3.4 million), Hartford Hospital ($3.3. million), and Yale- New Haven Hospital ($2.8 million).

In addition to the top three, there were seven other hospitals where the highest compensated official received a pay package exceeding one million dollars during FY2012.  Rounding out the top ten were officials at  Greenwich Hospital ($1.5 million), Saint Francis Hospital & Medical Center ($1.5 million), Stamford Hospital ($1.5 million), Hospital of Central CT ($1.5 million), Bridgeport Hospital ($1.1 million), Hospital of Saint Rafael ($1.8 million), and Middlesex Hospital ($1 million).

An analysis by Connecticut by the Numbers indicates that the top salary and benefit package at all but four of the state’s 30 hospitals went to top administrators, usually the President or CEO.  The exceptions included  New Milford Hospital, where the president’s total package ranked 5^th and a lab physician led the list;  at Charlotte Hungerford Hospital, where the CEO also ranked 5^th and a physician surgeon ranked first, and at Rockville General Hospital which was led by the Medical Director, with the CEO placing third in the salary hierarchy.    At Windham Community Memorial Hospital, the top administrator – the Vice President of Operations – placed 7^th in salary and fringe benefits amongst hospital leadership.

Only five hospitals in the state saw the top ranked individual receive less than half a million dollars in compensation.  The lowest was at  Rockville General Hospital, where the Medical Director received $324,458, followed by Windham Community Memorial Hospital, where the top  Physician/Hospitalist earned $463,270, John Dempsey Hospital, where the CEO earned $477,518, New Milford Hospital, where the top package was $480,036 and Johnson Memorial Hospital, where the President’s pay package totaled $483,070.

The OHCA report did report the names of individual administrators, but listed the top 10 paid positions at the state's 30 acute care hospitals. The state's two largest hospitals—Hartford Hospital and Yale New Haven Hospital—each had four senior executives that received million-dollar plus pay packages last fiscal year, the Hartford Business Journal has reported, while Stamford Hospital had two administrators earn over $1 million.

The highest paid hospital executive in fiscal 2012 was the former president & CEO of William Backus Hospital, who received a total pay package of $3.4 million. That included $3.2 million in fringe benefits, the report said.  In addition, the President & CEO received compensation of $975,550 during the year.  The highest active paid hospital administrator was Hartford Hospital's vice president of academic affairs and chief academic officer, who received $3.4 million in compensation.

In 2007, there were seven hospital CEO’s earning in excess of $1 million in compensation, according to the Office of Legislative Research.  In fiscal year 2005, five of the top paid positions at the state’s 30 hospitals received more than $1 million, data from the Office of Legislative Research indicates – all of them CEO’s.

Hospitals are required to provide their top ten highest paid hospital positions annually to OHCA.  The full list for FY2012 is available on the OHCA website. The top salary at each hospital, according to the report:

Bridgeport Hospital, President & CEO: $1,101,139

Bristol Hospital, President & CEO: $605,526

Charlotte Hungerford Hospital, Physician Surgeon: $661,640

CT Children’s Medical Center, President & CEO : $748,347

Danbury Hospital, Chief Executive Officer: $955,838

Day Kimball Hospital, President & CEO: $514,375

Essent-Sharon Hospital, Chief Executive Officer: $736,907

Greenwich Hospital, President & CEO: $1,530,629

Griffin Hospital, Chief Executive Officer: $558,543

Hartford Hospital, VP, Academic Affairs & CAO: $3,351,507

Hospital of Saint Rafael, President  : $1,803,605

John Dempsey Hospital, CEO : $477,518

Johnson Memorial Hospital, President : $483,070

Lawrence and Memorial Hospital, President, CEO: $761,734

Manchester Memorial Hospital,CEO: $560,793

Middlesex Hospital, President/CEO:  $1,022,460

MidState Medical Center, President/CEO: $958,020

Milford Hospital, President: $579,475

New Milford Hospital, Lab-Physician: $480,036

Norwalk Hospital, President & CEO : $901,148

Rockville General Hospital, Medical Director:  $324,458

Saint Francis Hospital & Med Ctr., President: $1,521,090

Saint Mary’s Hospital, President & CEO: $791,256

Saint Vincent’s Medical Center, Chief Executive Officer:   $2,394,278

Stamford Hospital, President & CEO: $1,532,094

The Hospital of Central CT, President & CEO: $1,499,546

Waterbury Hospital, President: $520,298

William W. Backus Hospital, Former Pres. & CEO: $3,357,690

Windham Community Memorial Hospital, Physician/Hospitalist: $463,270

Yale-New Haven Hospital, President & CEO* : $2,803,228

*includes Yale-New Haven Hospital and Yale-New Haven Health System

Strategies to Advance Transit-Oriented Development Outlined by Coalition

Strategies including community engagement, placemaking, mixed-income housing, complete streets, parking configuration, green infrastructure and energy efficiency are outlined in a comprehensive 68-page “toolkit” focusing on opportunities to extend transit-oriented development in Connecticut, as the state moves forward with significant rail and bus initiatives.

 Working in partnership, Connecticut Fund for the Environment, Partnership for Strong Communities, Regional Plan Association and Tri-State Transportation Campaign have created a Transit-Oriented Development (TOD) Toolkit that highlights key strategies necessary for developing competitive and sustainable TOD in Connecticut.  The toolkit has been shared in recent weeks with interested officials  and organizations around the state, and discussed at two public forums in Bridgeport that brought together more than   80 municipal leaders from the region.

The document outlines the primary components of a TOD program that meets common community goals of strengthening town centers, supporting municipal budgets, expanding housing and commercial opportunities, and minimizing environmental impacts. Among the central components outlined:

• The process and design for getting TOD built in a community, from developing a community vision and supportive zoning, to determining how accessible a station is for non-drivers.
• The demographic trends that favor mixed-income, transit-accessible housing, the fiscal impacts of residential TOD, and mechanisms to include affordable housing within TOD development.
• Complete Streets strategies that enhance streets and sidewalks to promote walking and biking to a station and to TOD built around it. Transit access, walking an bicycling, and the mix of uses in TOD mean that TOD districts require less parking than traditional development.
• Best practices for managing parking, including parking maximums, shared parking, and transit incentives.  
• Information and resources for incorporating green infrastructure and energy solutions in a community. Green infrastructure minimizes wastewater and pollutant impacts from development. Energy-efficiency, local energy generation and micro-grids help communities use less power and withstand disruptions to the regional energy supply.

Efforts are continuing by the organizations participating in the effort, and others pursuing a transit-oriented development agenda, to coordinate with key state agencies regarding strategies to move TOD forward in the state, especially along key transportation corridors.  Officials are working to secure funds for a new TOD position that would initially provide technical support to Meriden and other towns on the upcoming New Haven - Hartford - Springfield rail and CTfastrak bus lines and to develop a funding source to support financing and land acquisition for priority TOD sites.

 Transit-oriented development is described in the toolkit as “development that’s built to take advantage of the ability of people to access it with transit - a strategy for growth that produces less traffic and lessens impact on roads and highways.”  The overview also points out that “households located within walking distance of transit own fewer cars, drive less, and pay a smaller share of their income on transportation related expenses. Homes and businesses can be built with less parking, reducing the cost of development, making development more feasible in weak markets, and increasing local tax revenue.”

Northeast Homes are Older, Smaller than National Average

Applications for new home construction nationwide rose to a five-year high in April, offering evidence that the post-recession housing revival will be sustained, according to Associated Press reports on U.S. Commerce Department data.  Applications for building permits – considered an indicator of future demand - rose 14.3 percent to a rate of 1.02 million, the highest since June 2008.

The new construction data builds on a home ownership foundation that varies across regions.  There are 76 million owner-occupied homes in the United States, and three-quarters of them are in metropolitan areas.  The breakdown:  22 percent in central cities, 36 percent in urban suburbs, 17 percent in rural suburbs and only 25 percent outside of metropolitan areas.

Not surprisingly, the oldest homes (51 years old on average) are found in the Northeast, where they are also 15 percent smaller than the national average; the newest homes are in the South – 27 percent larger than the national average and an average of 31 years old.  The average home in the west is 49 years old, in the Midwest 41 years old.

In Fairfield County, only 6.8 percent of homes were built after 2000, and in the entire state that figure is 7.1 percent, the Connecticut Post reported last month.

Nationwide, the median family home size has grown substantially in recent decades.  In 1982 it was 1,520 sq. ft.; by 2007, it was 2,227 sq. ft.

The data indicate an average of 2.6 people per household nationwide, with the percentage of households with children under age 18 greatest in the urban suburbs (37%), followed by rural suburbs (36%), central cities (33%) and those outside of metropolitan areas (30%).

The data, compiled by the websites of the National Association of Home Builders (nahb.org) and trulia.com, was featured in an infographic developed for Quicken Loans in partnership with Ghergich & Co.

The sites also compares Connecticut with national averages in key home-related categories:

• Median Value of Owner-Occupied Housing Units: $166,900 [National Average $119,600]
• Median Price Asked for Housing Units: $136,500 [National Average $89,600]
• Median Household Income: $53,935  [National Average: $41,994]
• Median Family Income $65,521 [National Average: $50,046]
• Per-Capita Income: $28,766 [National Average: $21,587]

U.S. Census data featured by the state Department of Economic and Community Development indicates that Connecticut has 1,371,087 housing units occupied, led by the cities with the largest number of occupied housing units:  Bridgeport 51,255, New Haven, 48,877; Stamford, 47,357; Hartford, 45,124, and Waterbury, 42,761.

CT Beer Week Highlights Growing Local Industry, Economic Benefits

In case you hadn’t heard, we're in the midst of the first annual Connecticut Beer Week, and the theme is “Brew and Buy Local.”  The week-long promotion,  a collaboration of events hosted by brewers, wholesalers, retailers and restaurants throughout Connecticut, seeks to draw attention – and customers - to microbreweries in the state  that make specialty craft beers in numbers that are growing.

About 17 production breweries and more than 35 bars and restaurants are expected to participate during the week, with events that include brewery bus tours, beer tastings and live music performances. The local events coincide with American Craft Beer Week.  Connecticut beer manufacturers, distributors and retailers are highlighting the state's growing craft beer industry and encouraging consumers to buy local brews.

One of them, Willimantic Brewing Co,. has served home-brewed beer since 1997 in a renovated post office building. It produces about 800 barrels of beer annually and runs beer dinners and other events to educate customers, the Associate Press reported.

About 2,300 craft breweries operate in the U.S., according to the Colorado-based Brewers Association. About half are brewpubs, which brew and sell beer on location, and the other half are microbreweries that are usually restricted from selling retail.  The association defines a craft brewery as a facility that produces 6 million barrels or less of beer annually, is independently owned and uses traditional ingredients.

A $2-per-barrel reduction in the federal excise tax on beer, from $9 to $7, set off the revolution in American "craft" beer that began in 1976 and led to a surge in the number of U.S. breweries, which at the time numbered only a couple of dozen, the Wall Street Journal reported. The tax cut, pushed by a coalition of brewers and labor unions, was enacted just as popularity was soaring for hobbyists' home-brewing clubs, which produced Sierra Nevada and Dogfish Head, among a growing roster.

Earlier this year, a report by the National Beer Wholesalers Association (NBWA) highlighted the overall economic impact of the beer industry in Connecticut:

• Connecticut beer distributors directly employ 1,084 people.
• When the impacts of Connecticut distributor operations, capital investment and community involvement are considered, the total number of impact jobs is 3,013.
• Connecticut beer distributors generate $545 million in total economic impacts.
• Connecticut beer distributor activities contribute $126 million to the federal, state and local tax bases. This does not include an added $97 million in federal, state and local alcohol excise and consumption taxes on beer sold in Connecticut.
• The Connecticut beer distribution industry contributes more than $303 million in transportation efficiencies for the beer industry each year.
• Beer distributor contributions to local community activities generate $1.5 million in impacts annually.

Microbrewers in the state benefit from the local and organic food movements that have seen increasing sales around the nation. Jason McClellan, owner of Olde Burnside Brewing Co. in East Hartford, told the AP that he buys many ingredients in-state. State government regulates the production and sale of alcohol at brewpubs and microbreweries.

The state is also supporting the industry as an economic driver A 2011 law established the Connecticut Brewery Trail, which permits authorized beer manufacturers and retailers to display signs advertising their association with the trail. It’s intended to make residents aware of what's available in their own backyard and to inform out-of-state travelers about the state’s home-grow beers.  Road signs for the brewery trail have not been erected yet, but the information is available online. The breweries include:

• Thomas Hooker Brewing Company
• Olde Burnside Brewing Company
• New England Brewing Company
• Cottrell Brewing Company
• Cavalry Brewing Company
• City Steam Brewery Cafe
• Back East Brewing Company
• Half Full Brewery
• Relic Brewing
• Two Roads Brewing Company
• Beer'd Brewing Co.
• Thimble Island Brewing Co.

New Haven's Prometheus Research Has Triple-Crown Worthy Win Streak

If innovation, recognition and funding are the triple crown of research technology, New Haven-headquartered Prometheus Research is in every sense a leader.

Autism Speaks and Prometheus Research have teamed up to develop a new, more user-friendly assessment portal through which parents can complete surveys for use in autism research.  The tool, called the Online Clinical System for Research (OSCR), allows parents to complete forms over the web and makes them accessible to Autism Speaks' Autism Genetic Resource Exchange (AGRE) scientists, among others.  Assessments collected via OSCR provide important clues for autism research, increase the power of statistical analyses, and are easily shared with scientists and clinicians via a secure browser.

Autism Speaks is now able to view OSCR data alongside information on patient visits, diagnosis, biospecimens, and medications, points out Prometheus CEO, Dr. Leon Rozenblit.  "Through its support for new study configuration and data re-purposing, the integrated data management platform will enable Autism Speaks to significantly grow their research capabilities."  Autism Speaks' VP of Clinical Programs, Dr. Clara Lajonchere , explained that “This web-based patient-facing data collection interface will allow families to work more closely with researchers and healthcare professionals in real time.  Questionnaires can be integrated with electronic medical records or made available to clinicians prior to a clinical visit allowing healthcare professionals to better understand patient needs."

Also within the past month, P to extend its Open Source Research Exchange Database (RexDB) for the management of autism spectrum disorders research. The project aims to empower autism investigators to make more effective use of their data and more efficiently exchange data across the scientific community.  

Collaborating with Prometheus on the grant are the Yale University Child Study Center, the Marcus Autism Center, Weill Cornell Medical College, the University of Missouri Thompson Center, and others. SBIR grants are judged for scientific and technical merit, including significance of the problem being addressed, the innovative nature of the proposed solution, the overall strategy for execution, and the quality of the research team.

And finally, completing a very good month, Prometheus Research was named as one of the top ten Best Places to Work in Connecticut by the Hartford Business Journal. Prometheus received the recognition for the second year in a row.  The survey and awards program was designed to identify, recognize, and honor the best employers in Connecticut, benefiting the state's economy, workforce, and businesses. Prometheus Research was selected in the small business category.

Autism Speaks is the world's leading autism science and advocacy organization. It is dedicated to funding research into the causes, prevention, treatments and a cure for autism; increasing awareness of autism spectrum disorders; and advocating for the needs of individuals with autism and their families. Autism Speaks was founded in February 2005 by Suzanne and Bob Wright, the grandparents of a child with autism.  Wright is the former vice chairman of Connecticut-based General Electric and chief executive officer of NBC and NBC Universal.

Prometheus Research's mission is to help research institutions and funding organizations get more utility from their data.  Prometheus offers integrated data management services, expert consulting, and software customization to deliver sensible solutions powered by their adaptable, open-source, web-based RexDB technology.  The company was founded a decade ago, and is an active community participant, most recently sponsoring an Arts for Autism contest at the Betsy Ross Arts Magnet School in New Haven.  Winning artwork was featured by the company on social media channels and provided inspiration for t-shirts to be worn by the Prometheus team during the Autism Speaks Walk.

Thriving Initiatives on State Main Streets Gain Recognition

Communities and organizations actively championing the revitalization and economic development of downtowns across Connecticut - through initiatives ranging from rebuilding and redesigning downtown spaces to working with local partners to provide fresh food for downtown residents- are gaining recognition for their efforts.

Initiatives and organizations from Hartford, Waterbury, Willimantic and Storrs Center and among those selected for 2013 Awards of Excellence, to be presented by the Connecticut Main Street Center (CMSC) at their annual awards gala, being held in Hartford for the first time on June 10.  The projects and programs range from Fireball Run and iQuilt to vibrant partnerships bringing business, education, municipal and community organizations together to advance new initiatives.  The recipients are:

• Main Street Partnership (sponsored by Webster Bank) - "Brass City Market on Field" Indoor Farm Market, to Brass City Harvest, Main Street Waterbury, Naugatuck Valley Community College, Waterbury Development Corporation and the City of Waterbury.
•  Economic and Business Development - "Make New Friends, but Keep the Old": Retention and Relocation of Existing Businesses during Development of Storrs Center, to Mansfield Downtown Partnership, UConn, Town of Mansfield, LeylandAlliance, Milone & McBroom, Cipparone & Zaccaro, and the Business Owners of Mansfield & Storrs Center.
•  Public Space Master Plan - The iQuilt Plan (Downtown Hartford), to iQuilt Partnership, City of Hartford, and Suisman Urban Design.
• Historic Preservation - End of an Era": Past Identity/Future Vision and the Portrait Project (Downtown Willimantic), to Harrison Judd, Thread City Development, Inc., Eastern CT State University, Windham Textile & History Museum, Town of Windham, TBS Properties, Windham Region Chamber of Commerce, ArtSpace Windham Gallery.
•  Downtown Event -  Fireball Run 2012 (Downtown Waterbury), to Waterbury Regional Chamber of Commerce, City of Waterbury, and Main Street Waterbury.
• Business Owner of the Year (sponsored by Webster Bank) - Dr. Richard A. Fichman, Fichman Eye Center, in the Upper Albany Main Street District, Hartford

In addition, the 2013 Nationally Accredited Main Street Programs - Simsbury Main Street Partnership, Upper Albany Main Street (Hartford), and Main Street Waterbury will be recognized, and The Connecticut Light and Power Company Award for Outstanding Contributions to Main Street Revitalization will be presented to longtime activitst Toni A. Gold of Hartford.

"Connecticut's city centers are critical drivers of commerce and competitiveness," said Governor Dannel P. Malloy. "I applaud the 2013 award winners for their efforts to make Connecticut's downtowns thrive. The collaboration to create more livable communities is to the benefit of all Connecticut's residents."

Connecticut Main Street Center is a statewide nonprofit that inspires great Connecticut downtowns, Main Street by Main Street. Its mission is to be the champion and leading resource for vibrant and sustainable Main Streets as foundations for healthy communities.

The Connecticut Main Street Awards of Excellence, established a decade ago, recognize outstanding projects, individuals and partnerships in community efforts to bring traditional downtowns and neighborhood commercial districts back to life, socially and economically. Submissions were judged on criteria which included innovation, replication, representation, partnerships utilized, and outcomes.

Awards will be presented at the 2013 Connecticut Main Street Awards Gala on June 10th at the Wadsworth Atheneum Museum of Art in Downtown Hartford. Major Sponsors include Fuss & O'Neill, Webster Bank, Baywater Properties, Travelers, and Renaissance Downtowns.

Maritime Industry Brings $7 Billion Impact, 40,000 Jobs to Connecticut

The value of Connecticut’s maritime economy is nearly $7 billion, according to a new report researched and developed by the University of Connecticut at Avery Point.  The industry contributes nearly 40,000 jobs to the state, according to “Valuing the Coast: Economic Impacts of Connecticut’s Maritime Industry issued in conjunction with Sea Grant, a national network comprised of 32 Sea Grant programs based at flagship universities in coastal and Great Lake states and Puerto Rico.

Seven sectors classified by the U.S. Department of Commerce (DOC) as directly related to the state’s maritime industry were studied for the report: commercial fishing; seafood product preparation and packaging; ship building and repairing; boat building; transport by water; scenic and sightseeing transportation and support activities for transportation; and amusement and recreational activities.

Lead author was Robert S. Pomeroy, professor in the Department of Agricultural and Resource Economics in UConn's College of Agriculture and Natural Resources and a Sea Grant college fisheries extension specialist.  Pomeroy says the goal of the study was to document the significance of the maritime industry to Connecticut’s economy.

Pomeroy noted that the total impact of the state’s maritime economy is thought to be even higher because this study only looked at seven sectors of the economy. One important area not included is Connecticut’s growing aquaculture industry, which involves farming fish, mollusks, crustaceans, and aquatic plants. The DOC classifies aquaculture as being part of the state’s agricultural industry, so those numbers are not reflected in the findings.

Notably, the research showed that New London County alone accounts for a little less than 50 percent of the total state output impacts. The region consists of 36 towns, including several of the largest cities of the state.  Recreational activities are the most important sector for Middlesex County, one of four coastal counties most involved in the maritime industry.

The total economic output impact, measuring the value of the goods or services produced in each of the sectors studied, resulted in a finding of $6.83 billion at the state level, and $5.88 billion for the four coastal counties most involved in the maritime industry. These include the counties of Fairfield, New Haven, Middlesex, and New London.

Pomeroy and his colleagues used an economic model developed by Nobel Prize-winning economist Wassily Leontif that makes it possible to quantify the interdependencies between different branches of the economy. Leontif’s model shows how the output of one industry serves as an input to each of the other industries in the study. The data used was from 2010.

For Connecticut, ship building for commercial and military purposes is the sector contributing the most to the economy among the seven sectors measured. However, for counties other than New London, the most important sector is transport by water for Fairfield; scenic and sightseeing transport and support activities for transportation in New Haven; and other amusement and recreation industries for Middlesex.

The study also showed that Connecticut’s maritime industry is an important contributor to employment, with nearly 40,000 people being employed in the industry, of which 32,000 come from the four southernmost counties in the state. Among the seven sectors studied, ship building, which employs approximately 17,600 people, contributes the most jobs to the state’s economy.

The Sea Grant program is focused on making the United States the world leader in marine research and the sustainable development of marine resources.  Joining Pomeroy in authoring the report were Umi Muawanah, a Sea Grant Knauss Fellow, and Nataliya Plesha, a Ph.D. candidate in UConn’s Department of Agricultural and Resource Economics.

For purposes of comparison, a previous study commissioned by the Connecticut Maritime Coalition using 2007 data, reported that Connecticut’s maritime dependent industries were estimated to account for over $5 billion in business output, generating approximately 30,000 jobs. While the two studies used different methodologies, the results are comparable and show the critical economic importance of an evolving maritime industry to the state’s coffers and to providing a stabilizing economic force for Connecticut citizens in otherwise uncertain times.

Connecticut Sales Tax is 10th Highest in Nation; Louisiana Promotes Tax-Free Guns & Ammunition Days

When Connecticut’s sales tax inched upwards from 6 percent to 6.35 percent in 2011, the state made its way into the top ten sales tax states, leaving behind a gaggle of 16 states perched at 6 percent or slightly higher, but below the new Nutmeg rate of 6.35 percent.

Today, according to the Federation of Tax Administrators, Connecticut sits at number ten in the nation for its sales tax rate.  Close on our heels are Massachusetts, Texas and Illinois at 6.25 percent, and Kansas at 6.3 percent. Leading the pack is California at 7.5 percent, with five states - Indiana, Mississippi, New Jersey, Rhode Island and Tennessee - at 7.0 percent.

Five states - Alaska, Delaware, Montana, New Hampshire and Oregon - have no sales tax.  However, Alaska and Montana permit local sales taxes and Delaware imposes a rental and service tax.  The five states with the highest average combined rates of state and local taxes are Tennessee (9.44 percent), Arizona (9.16 percent), Louisiana (8.87 percent), Washington (8.86 percent), and Oklahoma (8.67 percent), according to the Tax Foundation.

Many states have sales tax holidays on select products for specific time periods during the year, with the majority focusing on back-to-school items or energy saving products.  Alabama, Louisiana and Virginia offer two or three tax-free days for the purchase of hurricane preparedness related equipment.  In Connecticut, clothing and footwear are exempt for a week in late August, just as families are doing their last-minute shopping for the start of the school year.

Tax-Free Days for Gun Sales

In Louisiana, firearms including shotguns, rifles, pistols, and revolvers, ammunition and hunting supplies are tax-free for three days in September.  In 2012, the days were promoted on the state’s website with a promotional video announcing the “Second Amendment Sales Tax Holiday.” Among the additional items that can be sold tax-free are knives, bows & arrows, off-road vehicles and safety gear.   The annual three-day tax holiday was approved by the Louisiana legislature in 2009.

The previous year, South Carolina waived the state’s sales and use tax on purchases of handguns, rifles and shotguns during a Second Amendment Sales Tax Holiday, held just after Thanksgiving on Nov. 28 – 29, 2008.  The bill become law after the veto by then-Governor Mark Sanford was overridden in the legislature.  The 48-hour tax break on firearm purchases also applied to any local sales and use tax.  The tax break did not apply to accessories such as ammunition, black powder, holsters, archery supplies and similar items.  The tax holiday, which must be approved annually by the legislature, has not been held the past two years, as the state’s fiscal situation tightened.

 A similar proposal in West Virginia was vetoed by then-Governor Joe Manchin (D) in April 2010.  Manchin was elected to the U.S. Senate later that year.

Earlier this year, a Texas lawmaker proposed that the Lone Star state's independence be celebrated by making Texas Independence Day, March 2nd, a tax-free holiday for gun purchases in that state.  The proposal would include no sales tax on shotguns, rifles, pistols, revolvers and other handguns, gun safes, gun cases, cleaning supplies and optics, ammunition, archery equipment, hunting stands, blinds, and decoys, the NBC affiliate in Dallas-Fort Worth has reported.

 Top ten sales tax rates (percentage):

1.  California            7.5
2.  Indiana                 7.0
3. Mississippi          7.0
4.    New Jersey        7.0
5. Rhode Island      7.0
6. Tennessee          7.0
7. Minnesota          6.875
8. Arizona                 6.6
9. Washington        6.5
10. Connecticut   6.35

The Sales Tax Institute notes that many states allow non-standard rates on many items including meals, lodging, telecommunications and specific items and services. State laws regarding county or local taxes, in addition to the state sales tax, also vary.

New London Features “One of America’s Most Beautiful Town Squares”

Town squares across the U.S. were built to inspire goodwill and be the hearts of their communities, often with stately landmarks and surrounding colorful shops and cafés. Travel + Leisure magazine went in search of the squares keeping that spirit alive, emphasizing smaller towns, with populations of 50,000 or less.  Among the top ten nationwide was Parade Plaza in New London.

Travel + Leisure reported that “Parade Plaza reopened in 2011 with a 100-seat amphitheater and the Whale Tail Fountain, where kids like to splash around. The improvements complement longtime attractions at the square like the schoolhouse where Nathan Hale once taught. “

Other top selections included the Yavapai County Courthouse Plaza in Prescott, AZ, which has been honored by the American Planning Association and the National Trust for Historic Preservation.  At the nation’s top squares, the article pointed out, farmers’ markets, free concerts, and holiday celebrations keep locals and visitors entertained year-round.

The Travel + Leisure website recommended that people “Set your sights on a road trip or weekend getaway to one of these small towns, and make the square your first stop.” 

The description of Parade Plaza was enthusiastic: “Reopened in 2011, this triangular plaza is new and improved, with an open amphitheater that seats 100 and the 10-foot-tall Whale Tail Fountain, popular with kids who play in the water falling from the tail. The schoolhouse where Nathan Hale once taught and the 50-foot-high granite-obelisk Soldiers and Sailors Monument are two traditional attractions. In winter, the upper section is turned into an ice-skating rink.”

More information about Parade Plaza, and New London’s downtown revitalization efforts, is available at newlondonmainstreet.org.  The other New England squares included on the list are in Portsmouth, NH and Bar Harbor, ME.  

Joining New London on the list of top town squares selected by Travel + Leisure (in no particular order):

• The Dover Green, Dover, DE
• Court Square, Bardstown, KY
• Market Square, Portsmouth, NH
• Healdsburg Plaza, Healdsburg, CA
• Historic Canton Square, Canton, MS
• Yavapai County Courthouse Plaza, Prescott, AZ
• Centerway Square, Corning, NY
• Jackson Town Square, Jackson, WY
• City Square Park, Oskaloosa, IA
• Decatur Square, Decatur, GA
• Village Green, Bar Harbor, ME
• The Square, San Marcos, TX

Hometown Names Go Beyond Hometown for Connecticut Banks

What’s in a name?  In the banking industry in Connecticut, quite often it is the name one of the state’s towns.  Although there are more than two dozen out-of-state banks dotting our landscape, nearly an equal number of locally-based institutions have not only adopted the name of their hometown, they’re keeping that name even as the venture into neighboring communities – and well beyond.

Does Farmington Bank have the same cache in South Windsor?  Or Newington?  Does Rockville Bank sound as inviting in West Hartford as in Vernon?  Essex Savings Bank in Madison?  Jewett City Savings Bank (“your hometown bank”) in Brooklyn?  Simsbury Bank in Bloomfield? Or Savings Bank of Danbury, in Waterbury?

The recent opening  of Rockville Bank’s first west-of-the-river branch in West Hartford (joining 18 east of the Connecticut River), nearly simultaneous with Farmington Bank’s opening in South Windsor and Newington Center, reflects the growing trend of “hometown” banks expanding their footprint beyond the four corners of their town borders – and seeing no need to change the name on the door.

In fact, last year Farmington Bank - now with 20 branches in central Connecticut - was recognized as the #1 small business lender in the state by the Small Business Administration (SBA) of Connecticut.  For SBA's fiscal year 2011-12, Farmington Bank approved 57 loans, totaling $8,628,000.

The town names doing double-duty as bank names:  Fairfield, New Canaan, Groton,Darien, Essex, Farmington, Greenwich, Suffield, Guilford, Jewett City, Litchfield, Milford, Naugatuck, Putnam, Rockville, Salisbury, Danbury, Simsbury, Stafford, Thomaston, Torrington, Wilton and Windsor.

And then there is Connecticut Community Bank, which operates five divisions, using five different names, which each utilize the names of their local communities in Darien, Greenwich, Norwalk, Stamford, and Westport.

Not to mention the regional institutions… from Fairfield County Bank to Northwest Community Bank, Naugatuck Valley Savings and Loan to Bank of Southern Connecticut and Eastern Savings Bank.  There’s also the Quinnipiac Bank & Trust Company – not quite a region, but not quite a town.  (Not connected with the university – neither is Southern or Eastern in the previous group.)

There is also Union Bank with 19 locations in Western Connecticut, which has nothing to do with the town of Union, clear across on the other side of the state.  And some local banks, such as The Community’s Bank with a single location in Bridgeport, or three of the state’s largest, Bridgeport-headquartered People’s United, Waterbury-headquartered Webster, and Middletown-headquartered Liberty Bank, which are very much homegrown but without the name of the their hometown in their moniker.

The list more than two-dozen banks, with a hometown in their name, according to the State Department of Banking:

Bank of Fairfield

Bank of New Canaan

Chelsea Groton Bank

Chelsea Groton Bank

Darien Rowayton Bank

Essex Savings Bank

Farmington Bank

First Bank of Greenwich

First National Bank of Suffield

Guilford Savings Bank

Jewett City Savings Bank

Litchfield Bancorp

Milford Bank

Naugatuck Savings Bank

Newtown Savings Bank

Putnam Bank

Rockville Bank

Salisbury Bank and Trust Company

Savings Bank of Danbury

Simsbury Bank & Trust Company

Stafford Savings Bank

Thomaston Savings Bank

Torrington Savings Bank

Wilton Bank

Windsor Federal Savings and Loan Association