CT Ranks 20th in Dependence on Gun Industry, But 3rd in Firearms Output, 2nd in Industry Wages

Connecticut’s place in the ongoing national debate about guns is reflected in a new analysis which ranks the state 20^th in the nation in overall dependence on the gun industry, but also ranks the state 3^rd in total firearms industry output per capita and 2^nd in highest average wages & benefits in the firearms industry. With the gun debate center-stage in the presidential primaries and in Washington, D.C., the website WalletHub analyzed which states depend most on the arms and ammunitions industry both directly for jobs and political contributions and indirectly through firearm ownership. WalletHub’s analysts compared the 50 states and the District of Columbia across three key dimensions: 1) Firearms Industry, 2) Gun Prevalence and 3) Gun Politics and eight metrics.

Connecticut also came in 41st in its "firearms prevalence rank" and 47th in "gun politics rank."

The states Most Dependent on the Gun Industry were Idaho, Alaska, Montana, South Dakota, Arkansas, Wyoming, New Hampshire, Minnesota, Kentucky and Alabama.

Officials point out that the gun industry plays an important role in the U.S. economy, and Connecticut is no exception. By one estimate, firearms and ammunitions contributed a total of nearly $43 billion to the national economy in 2014. That figure accounts for more than 263,000 jobs that paid $13.7 billion in total wages, according to the report from the Connecticut-based National Shooting Sports Foundation. In the same year, federal and state governments collected from the industry more than $5.79 billion in business taxes, plus an additional $863.7 million in federal excise duties, the WalletHub report indicated.

In the overall rankings, the states determined to be least dependent on the gun industry are Maryland, New York, New Jersey, Rhode Island and Delaware.

The analysis also found:

• The number of firearms-industry jobs per capita is highest in New Hampshire, which is seven times greater than in the District of Columbia, where it is lowest.
• The average wages & benefits in the firearms industry is highest in the District of Columbia, which is three times greater than in New Mexico, where it is lowest.
• The total firearms industry output per capita is highest in New Hampshire, which is 18 times greater than in Hawaii, where it is lowest.
• The total taxes paid by the firearms industry per capita is highest in Montana, which is six times greater than in Delaware, where it is lowest.
• Gun ownership is highest in Alaska, which is 12 times greater than in Delaware, where it is lowest.

The eight relevant metrics utilized in the analysis and their corresponding weights were as follows:

Firearms Industry – Total Points: 35

• Number of Firearms-Industry Jobs per 10,000 Residents: (~14 Points)
• Average Wages & Benefits in the Firearms Industry: (~7 Points)
• Total Firearms Industry Output per Capita: (~7 Points)
• Total Taxes Paid by the Firearms Industry per Capita: (~7 Points)

Gun Prevalence – Total Points: 35

• Gun Ownership: (~17.5 Points)
• Gun Sales per 1,000 Residents (approximated by using National Instant Criminal Background Check System data): (~17.5 Points)

Gun Politics – Total Points: 30

• Gun-Control Contributions to Congressional Members per 100,000 Residents: (~15 Points)
• Gun-Rights Contributions to Congressional Members per 100,000 Residents: (~15 Points)

Data used to create these rankings were collected from the U.S. Census Bureau, the National Shooting Sports Foundation, the Federal Bureau of Investigation, the BMJ Publishing Group and the Center for Responsive Politics, according to WalletHub.

Rockies, Yard Goats Extend Relationship; Among Top 10 Farm Systems in MLB

When the Hartford Yard Goats take up residence at the new Dunkin’ Donuts Park later this spring, they will continue to be a Double-A farm team of the National League’s Colorado Rockies, which run one of major league baseball’s top 10 farm systems, according to a pre-season analysis  by the website minorleagueball.com. At the top of the rankings – the “elite” organizations – are the Chicago Cubs, Boston Red Sox, Minnesota Twins, Los Angeles Dodgers and Texas Rangers.  The next five, described as organizations that “should be considered very productive with a chance to move into the top group soon,” include the New York Mets, Pittsburgh Pirates, Toronto Blue Jays, Colorado Rockies and Houston Astros.  The New York Yankees farm system was ranked at #13. 

The Hartford Yard Goats Double-A baseball club will launch its inaugural season at home in Hartford on May 31, a delayed opening due to stadium-construction delays.  The team will begin its season playing on the road in April and May.  The Yard Goats will play the Boston Red Sox affiliate Portland Seadogs in June and July of 2016, the New York Yankees affiliate Trenton Thunder in August, and the Binghamton Mets in July and August.

When they finally arrive home, it appears that the Rockies-Yard Goats relationship will not be short-lived.  This week, the Colorado Rockies announced a player-development contract extension for another two years with the Hartford Yard Goats. It will keep the two teams together through the 2018 season.  The original agreement signed in the fall of 2014 was set to expire at the conclusion of this season.

The Yard Goats recently announced the addition of a third founding sponsor.  Stamford's Frontier Communications, which has expanded its Connecticut telecom offerings through its $2 billion acquisition of AT&T landline assets last year, will pay an undisclosed sum for the right to display its signage inside and outside the $66 million stadium under construction in the Downtown North neighborhood.

The company's name will also be on the Frontier Communications Stadium Club, and the deal includes provision of free Wi-Fi for fans at home games.  Frontier joins founding sponsors Travelers and The Hartford Financial Services Group. In addition, Dunkin' Donuts owns the naming rights to the stadium.

Playing last season as the New Britain Rock Cats, the team finished with a record of 69-71, a fourth place spot in the six-team Eastern League’s Eastern Division.

The Hartford Yard Goats have also announced that all 142 games (home and away) will be broadcast live on News Talk 1410AM (WPOP) and will be available for fans to listen on iHeartRadio. News Talk 1410AM will serve as the Yard Goats flagship station over the next three seasons, through 2018. Veteran broadcaster Jeff Dooley will be the "Voice of the Yard Goats" and lead play-by-play announcer for the games.

$80,000 in Grants Boost Preservation Initiatives in 7 CT Communities

Connecticut Main Street Center (CMSC), the downtown revitalization and economic development non-profit, has selected seven organizations and municipalities to receive a share of $80,400 in 2016 Preservation of Place grants. The grants will be used to provide communities in Bridgeport, Canton, Haddam, Fairfield, New Britain, New Haven (Westville Village) and Simsbury with targeted resources to increase their capacity to plan for preservation and revitalization initiatives in their downtowns and neighborhood commercial districts. 

This year's awards are notable because two applicants, Canton and New Britain, sought the grant funds to pursue the creation of tax increment financing (TIF) districts, made possible through the passage of legislation in 2015 that was proposed by a coalition led by CMSC. TIF is a financing mechanism in which an investment in a specified area is repaid over time using the increased tax revenue generated by the investment.

"The projects funded through this year's Preservation of Place round have the potential to be transformative for these communities," said John Simone, CMSC's President & CEO.  "Canton and New Britain may very well become the models for creating successful TIF districts, while Haddam's award can help set the foundation for a unified, mixed-use commercial area that marries their historic charm with a modern, connected design. Certainly, all of the communities represented are as diverse in location as in their unique character, but each has something wonderful to offer, which will only be enhanced through the use of these grant funds."

The Preservation of Place grant program provides a source of funding for new initiatives that can be integrated into, and leverage, comprehensive Main Street preservation and revitalization programs.  The funds are meant to be flexible to meet individual community need.

The 2016 recipients of Preservation of Place grant funds are:

• Bridgeport Downtown Special Services District - Awarded $10,400 for Bridgeport CREATES, Phase II, to assist in the pre-development activities associated with the creation of a Maker Space/ Innovation Center.
• Town of Canton - Awarded $10,000 for a Tax Increment Financing Master Plan for Collinsville Center & the Collins Company Complex to develop a viable TIF agreement, master plan and district to help develop the historic complex.
• Town of Haddam - Awarded $10,000 for a Market Analysis & Village District Zoning Regulations for Tylerville in order to assess viable businesses and draft zoning regulations that will allow for and promote such businesses, as well as mixed-use development, in this historic area.
• Town of Fairfield - Awarded $10,000 for a Signage & Wayfinding Program for Downtown & Neighboring Commercial Districts to help visitors and residents navigate their way around downtown Fairfield's many prominent cultural, tourist and academic attractions.
• New Britain Downtown District - Awarded $10,000 to work in conjunction with the City on the Creation of a Tax Increment Financing District for transit oriented development around the CTfastrak terminus.
• Westville Village Renaissance Alliance (New Haven) - Awarded $20,000 for the Westville Village Comprehensive Plan: The Visioning Phase, a comprehensive plan to guide a sustainable and place-based approach to long-term economic and physical development.
• Simsbury Main Street Partnership - Awarded $10,000 for a Comprehensive Parking Study of Downtown to develop specific parking recommendations, including short- and long-term solutions.

Since 2008, the Preservation of Place grant program has leveraged over $1 million of investment in local Main Street initiatives. Connecticut Main Street Center and the Preservation of Place grant program receive support from the State Historic Preservation Office, with funds from the State of Connecticut through the Community Investment Act.

CT Ranked 14th Among Smaller States for Small Business Activity; MA Is 2nd Among Large States

Small business activity is on the rise in 49 of the 50 U.S. states, according to a new report from the Kauffman Foundation. The report provides a broad index measure of small local business activity, analyzing the states in peer groups of the 25 largest states by population and the 25 smallest states by population.  Connecticut ranked 14^th among the smaller 25 states, for the second consecutive year, and was the lowest-ranked New England state. The density of established small businesses per 100,000 residents increased slightly from the previous year, from 1,147.3 to 1,167.4 in 2015.  Established small businesses are defined in the study as businesses over the age of five employing at least one, but less than fifty, employees.  The rate of small business ownership also grew slightly in Connecticut, from 6.14 percent to 6.34 percent.

Demographic trends for Connecticut noted in the report indicate an increase in native-born small business ownership, and upticks in the percentage of small businesses led by Latinos, 55 to 64 year-olds, 35-44 year-olds, high school graduates and college graduates.  More small businesses are run by men than women.

Overall, what the report describes as “Main Street entrepreneurial activity – an indicator of the number of established small businesses and the number of business owners in a location – experienced a large increase in 2015, reversing a six-year downward and stagnant trend in the U.S.”

"Following a post-recession downward and stagnant trend in small business activity, we're now seeing Main Street Entrepreneurship begin to rise," said E.J. Reedy, director in Research and Policy at the Kauffman Foundation. "This obviously is good news given that these small businesses make up 63 percent of all employer firms nationally."

The Kauffman Index: Main Street Entrepreneurship State Trends report includes these findings:

Among the 25 largest states, the five states with the highest activity were Minnesota, Colorado, Massachusetts, New York and New Jersey. Among the 25 smallest states, the states with the highest activity were Vermont, Montana, North Dakota, South Dakota, Wyoming, Maine, Nebraska, New Hampshire, Rhode Island, Iowa, Oregon, Idaho, and Kansas.

Insights on business owner demographics for the 25 smallest states, including Connecticut:

• States with the highest rates of female business owners were Vermont, Montana, Wyoming, Oregon, and South Dakota.
• States with the highest rates of older adult business owners (ages 55-64) were South Dakota, Vermont, North Dakota, Montana and Nebraska.
• States with the highest rates of young adult business owners (ages 20-34) were South Dakota, North Dakota, Montana, Wyoming and Vermont.

Tennessee is the only state that did not show an increase in established small business activity in 2015 compared with 2014.

The new Main Street Entrepreneurship Index is an indicator of small business activity, presenting trends over the past two decades, focusing on established small businesses (firms older than five years with less than 50 employees) and trends in ownership rates. The Index measures business activity along two distinct and complementary dimensions: the rate of business owners in the economy – the percentage of adults owning a business in a given month, and established small business density – the ratio of established small employer businesses compared to population.

The Kauffman Index of Entrepreneurship is the first and largest index tracking entrepreneurship across city, state and national levels for the United States, and also presents demographic characteristics of the business owners.

In a companion study and report, focusing on the nation’s largest metropolitan areas, Small business activity is on the rise 38 of the top 40 largest metropolitan areas, the top five metropolitan areas for small business activity as measured by the Index were New York, Boston, Providence, San Francisco and Portland.  The report on metropolitan areas noted that “the one to experience the biggest increase in rankings was Providence, which moved up three spots to tie with Boston for second place in the 2015 Index.”

Health Care Seen as Economic Driver in Connecticut, Propelling Growth

The first thought that comes to mind when someone mentions health care is likely not “economic driver.”  If a new marketing initiative by the Connecticut Health Council succeeds, that may be changing. Newly launched in January 2016, the Connecticut Health Council's "Did You Know" campaign is a multichannel content marketing program designed to raise awareness of the health sector's importance as an economic and employment driver in Connecticut. The initiative highlights data that may have escaped widespread attention across the state, with the aim of “promoting Connecticut as a center of health excellence.”

The campaign includes a series of informational posters, now on display at the State Legislative Office Building in Hartford through the end of January, along with “traditional print and broadcast media content, social media alerts, and thought leadership.”  Among the stats highlighted:

• The healthcare sector in Connecticut has grown 12.5% over the past seven years, and now employs 266,400 people.
• There are 20,434 registered healthcare employers in the State of Connecticut.
• From 2007 to 2014, healthcare and social services was the fourth fastest growing employment category in the state.
• Connecticut’s healthcare sector generated $29.6 billion in estimated total before-tax revenue in 2012.

In addition, the marketing campaign also highlights that thee of the top 10 fastest growing companies headquartered in Connecticut in 2014 were healthcare related companies, and that Connecticut’s healthcare sector has the fifth highest number of sole proprietorships of any sector in the state, with the seventh highest revenues. Connecticut’s “unique base of health sector assets” include health insurance companies, hospitals, medical schools, research capacity, and specialty practices, according to the organization’s website.

Founded in 2012 by the MetroHartford Alliance, the Connecticut Health Council is an association of health sector leaders who work to advance the development of businesses, initiatives and technology that improve health care and wellness both nationally and in the State.  The organization, which currently has 90 partners, fosters “collaboration, education, entrepreneurship and networking among leaders of for-profit and non-profit health sector entities.”

Speaking at this month’s Economic Summit & Outlook in Hartford, Oz Greibel, President & CEO of the MetroHartford Alliance, spoke to the need to highlight the data at the State Capitol, where the info-posters are on display.  “(The campaign) is based on the notion of the health sector as an economic and employment driver – and a place for additional capital investment.  Making sure that people at the legislature understand the importance of this sector, and that the actions that they take can be either helpful or detrimental, to long-term growth.”

The Council's primary activity is to host programs focused on health sector topics that feature speakers of regional, national and international renown, the website points out. The Council also provides “a forum for a robust network of experts, professionals and other parties interested in promoting Connecticut as a center of health excellence and the health sector as a primary driver of economic and employment growth in our State.”

As Greibel described it, the Council’s activities are designed specifically “to leverage the extraordinary resources we have in Connecticut in the health care disciplines.”

Highlighting the impact of the state’s hospitals, the Council points out that Connecticut hospitals provide jobs to 55,000 full-time employees and spend $4.2 billion on goods and services.  Overall, Connecticut hospitals contribute $21.9 billion annually to the state and local economies.

The Connecticut Health Council is co-chaired by Marty Gavin, President & CEO of Connecticut Children’s Medical Center, and Bob Patricelli, Chairman & CEO of Women’s Health USA.  The executive director is Amy Cunningham.

GE Leaves Wisconsin for Canada, Blames Government; Cuts Thousands of Former Alstom Jobs Across Europe

Virtually unnoticed amidst the attention given to the months long saga of GE’s decision to move its corporate headquarters from Fairfield was another relocation by the company – this time not only leaving a state, but the United States.  And in that instance as well as the latest decision, government was cited as a reason for the departure. Less than four months ago, GE announced it was leaving Waukesha, Wisconsin for Canada, and moving 350 jobs north of the border.  GE closed a long-time engine manufacturing plant in Wisconsin and announced plans to invest $265 million to build a new one in Canada in order to take advantage of Canadian export credit financing.  The new plant was expected to be completed in 20 months and was described by GE as “a flexible production facility that can expand over time and also support manufacturing requirements for other GE businesses.”

The company said the new state-of-the-art plant in Canada and will be a flexible facility that can expand over time and also support manufacturing requirements for other GE businesses. GE notified employees in Waukesha and more than 400 U.S. suppliers of its plans. In Wisconsin alone, suppliers generated almost $47 million in revenue from the plant, GE said at the time.

“We know these announcements will have regrettable impact not only on our employees but on the hundreds of U.S. suppliers we work with that cannot move their facilities, but we cannot walk away from our customers,” said John Rice, Vice Chairman, GE, when the Wisconsin move was announced.

The blame, according to a GE news release, rested on Congress, which allowed the nation’s Export-Import Bank to cease functioning.  Last week, in an effort to break a political logjam in the Republican-controlled Congress, the White House announced it would nominate a Republican to lead the agency.

When the company announced its decision to leave Wisconsin for an unnamed Canadian city, it pointed the finger squarely at Congress:

“GE is currently bidding on $11 billion of projects that require export financing. While more than 60 other countries have export credit agencies (ECAs) that support domestic manufacturing for export, the US does not. The authorization for the U.S. export credit agency – the Export-Import Bank, or Ex-Im – lapsed on July 1. For the last year, exporters and suppliers have called upon Congress to reauthorize the U.S. Export-Import Bank to support manufacturing jobs and level the playing field for U.S. companies that compete globally. Most countries are hungry for manufacturing and export jobs. The U.S. remains the only major economy in the world without an export bank.”

The headquarters move to Boston was not GE’s only major announcement this week.  The company also announced plans to cut 6,500 jobs in Europe as it moves to integrate Alstom SA’s power business and push through cost savings from the acquisition, made last year.  The acquisition included facilities in Windsor and Bloomfield in Connecticut, including about 1,000 jobs.  No word on whether cuts may be coming there as well.  Published reports indicated that GE has not yet announced how many jobs it could eliminate in the Americas, Africa and Asia, where it is also working to integrate Alstom’s operations with its own power business.

Award-Winning Start-Up Accelerator to Launch Largest Class of Social Enterprises, Fledgling Businesses

When the Hartford-based Social Enterprise Trust, known as reSET, was among the winners of the U.S Small Business Administration’s Growth Accelerator Competition last year – the only Connecticut organization to do so and one of 80 nationwide – it was not known what earning that designation, and  the $50,000 that came with it, would mean for reSET’s Impact Accelerator program. Now, the picture is becoming clearer – and boosting Hartford’s reputation as a city for socially committed entrepreneurial start-up businesses.  The expanding initiative is attracting not only home grown companies, but start-ups from elsewhere across the country, including as far away as California.

Tailored for impact-driven businesses but available to all early-stage ventures, reSET’s Impact Accelerator, now beginning its fourth year, has as its primary objective to test and hone entrepreneurs’ models, and to connect them to networks, mentors, customers, and resources.

A cohort of 22 businesses have been accepted to the program and most of their models are impact focused, serving the educational technology, health and health tech, energy, and agriculture industries. More than 60 percent of them are already generating revenue.  It is the largest group of companies to take part in the accelerator program at reSET, and the first to include a handful of out-of-state participants.

Running from January 20 to June 2, reSET’s accelerator will feature a more flexible program designed for busy, full-time entrepreneurs, as well as a ‘pay what you can’ model.  Entrepreneurial teams will attend five weekend summits, with 30+ optional workshops, mentor office hours, and consultations with an Entrepreneur in Residence conducted during the week.

At program’s end, a $25,000 accelerator funding pool will be available to the cohort, and they'll have priority access to reSET’s investment fund as well, via mentors and advisors that can help them put their best foot forward with their applications, according to reSET officials.

The 2016 cohort includes: Agyncy (www.agyncy.com), AmRide (www.amride.com), Asarasi (www.asarasi.com), BLT Robotics (www.bltrobotics.com), Doors to Explore (www.doorstoexplore.com), DopaFit (www.mydopafit.com), Enviro Power, LLC (www.enviropowertec.com), Keep Sight (www.keepsight.com), Lion’s Heart (www.lionsheartservice.org), Mivy (www.mivyapp.com), Movia Robotics (www.moviarobotics.com), Muni (www.muni.info), myHomeProNetwork (https://myhomepronetwork.com), Plucked (www.pluckedadmissions.org), RepVisits (www.repvisits.com), ScripFlip (www.scriptflip.org), SnapSeat (www.snapseatbooths.com), Tainted Inc. (www.tainted-beauty.com), Text Engine (www.textengine.info), The TubieGuard (the-tubieguard.myshopify.com), Trekeffect (https://trekeffect.com), and Untapped Potential (www.upotential.org).

“We’ve made a strategic shift with our accelerator model so it can accommodate more participants at one time, which we feel will really encourage more collaboration,” said Rosie Gallant, reSET’s Director of Programs. “The shift will help tee up the accelerator for our annual Impact Challenge as well, since the program will wrap in the spring right around when applications will open for the competition in which participants will vie for this year’s $100,000 prize purse.”

reSET is a non-profit organization whose mission is to advance the social enterprise sector.  Its strategic goals are threefold: to be the “go-to” place for impact entrepreneurs, to make Hartford the Impact City, and Connecticut the social enterprise state.  reSET aims to inspire innovation and community collaboration, and to support entrepreneurs in creating market-based solutions to community challenges.  reSET’s goal is to meet entrepreneurs wherever they are in their trajectory and to help them take their businesses to the next level.

Health Care Providers, Insurers Need to Collaborate to Improve Care, Rein in Costs

When Eric Schultz began his keynote remarks, the President and CEO of Massachusetts-based Harvard Pilgrim Health Care made sure to alert his audience to his homegrown pedigree.  Whether his youth in the Naugatuck Valley, college years (five of them) at UConn, or graduate work at Yale contributed to Harvard Pilgrim’s more-than-solid inaugural years doing business in Connecticut isn’t certain, but the above-expectations numbers are indisputable.  And Schmitt made clear that his nonprofit health insurance company is looking for even greater achievements in his home state. Since entering the Connecticut market in the summer of 2014, the company has been aggressively growing its customer base in a competitive market while working diligently to grow and expand its network of doctors.  Harvard Pilgrim Health Care announced recently that its Connecticut membership has grown to more than 24,000, exceeding expectations for 2015. It now serves more than 800 Connecticut businesses.  Twenty-nine of the state’s 30 hospitals are now in-network.

With more than 500 business leaders in attendance at an annual Economic Summit & Outlook last week, brought together by the Connecticut Business and Industry Association and MetroHartford Alliance, Schmitt spent some time touting a new model launched in the state of New Hampshire that he believes may be a glimpse into the direction the industry is moving. Harvard Pilgrim Health Care’s footprint in New England now covers “where 90 percent of New Englanders live,” in Massachusetts, Connecticut, Maine and New Hampshire. 

Schultz, who succeeded now-Massachusetts Governor Charlie Baker in leading the organization five years ago, pointed to what he described as “a practical example of how an insurance company and groups of providers can work together to get control of medical cost trends and to help improve medical outcomes and help create better experiences for physicians and their patients.”

The goals, Shultz explained, are to reduce insurance premium trends by 10 to 15 percent, to improve clinical outcomes, to create a better “practice environment” for medical staff and to grow business.  The partnership is driven to “produce something that’s better than what we have today, because we know the financing of health care is largely broken in the U.S.”

Launched in October 2015 and in business as of January 1, Benevera Health, a joint venture led by senior leadership at Harvard Pilgrim Health Care and Dartmouth-Hitchcock, is a population health company, centered around “clinical and medical informatics.”  Dartmouth-Hitchcock, a nonprofit academic health system that serves a patient population of 1.2 million in New Hampshire and Vermont, is led by Dr. James Weinstein, recently named as one of “100 Physician Leaders to Know” by a national health care trade publication.

“We are combining insurance data with clinical data,” Schultz said, “from their electronic medical records and our claims system, and creating a very powerful source of information.”  That information, he stressed, could be used to better understand what’s happening in regards to patient care, and it can help to redesign and improve clinical care.  This has the potential to be especially important in chronically ill patients, noting that 10 percent of patients drive 50 percent of health care costs.  “It is a great financial opportunity and a great clinical opportunity.”

“The magic,” Shultz noted, is in having the provider and the payer sit down together and figure out” what should be done.  Too often in the past, he said, providers and insurers haven’t gotten together – a lack of cooperation and collaboration that contributes to higher costs and to disconnects regarding patient care.  His expectation is the Benevera will “reduce headaches” that insurance companies often cause providers, reduce duplication and costs, and improve patient care. 

In fact, when the new venture was launched last fall, officials from the two companies stressed that the groundbreaking entity, “will take health care coordination to a new level by bringing together clinical, financial and operational data from across partner institutions to provide actionable analytics for clinicians to further improve the quality and efficiency of patient care.”  They added that  “at the center of this approach will be locally-based care advocates who will identify early opportunities to engage patients – especially those with chronic, complex or emerging conditions - and provide them with one-on-one support.”

Schultz noted that insurance companies tend to resist providers suggesting how insurance plans ought to be designed.  He disagrees with that resistance.  “If more insurers took more input from providers on plan design, we’d be a lot better off.”

Harvard Pilgrim is the only not-for-profit, regional health plan operating in four contiguous New England states.  Harvard Pilgrim’s flagship health plans in New England provide health coverage to 1.3 million members, while another 1.4 million individuals are served through Health Plans, Inc., a subsidiary that provides integrated care management, health coaching and plan administration solutions to self-funded employers nationwide.  Schultz holds an MBA in Health Care Leadership from Yale University’s School of Management, as well as a bachelor of science degree in biology and a bachelor of arts degree in economics from the University of Connecticut.

“We’re about change and driving change,” Schultz told those attending the Hartford summit, “and I believe we need to do more of that.”  He’s hoping to build a similar structure in Connecticut, and in other states around the country, because “it’s exactly what we need to do.”

Link to CT-N video of Economic Summit & Outlook.

Income Inequality in CT's 4th Congressional District is 4th Largest Gap in Nation; 2nd District Has Least Income Inequality in State

Connecticut’s 4th Congressional district, centered in Fairfield Country, has been ranked as the district with the 4th highest level income inequity in the nation.  A year ago, the 4^th C.D. was ranked fifth. A ranking of congressional districts of by their level of income inequality, conducted by Bloomberg, uses the Gini coefficient, a formula that measures the distribution of income across a population. The closer a Gini number is to 1, the greater the level of inequality; the closer to zero, the closer to perfect equality. The average score for the United States was 0.4804.

All of Connecticut’s Congressional Districts, with the exception of the Fourth District, did better than the national average in the degree of income inequality.

Bloomberg Businessweek has previously pointed out that the U.S. congressional districts with the most inequality share certain traits: “they contain a small, enormously wealthy elite surrounded by impoverished neighbors.” Most of the districts with the greatest disparity are located in or near major urban metropolitan areas.

The greatest income inequality in the most recent analysis indicated that the Congressional Districts with the most income inequality are Pennsylvania’s 2^nd District, New York’s 10^th District, and Florida’s 27^th District.  Following Connecticut’s 4^th District on the list are Illinois; 7^th District, and three additional Congressional Districts in New York – the 12^th, 7^th and 16^th.  Rounding out the 10 C.D.’s with the most income inequality are Ohio’s 11^th District and Georgia’s 5^th District.

In Connecticut’s 4^th Congressional District, which includes Bridgeport, the state’s largest city, as well as the communities often referred to as the “Gold Coast,” 59.3 percent of the population has household income in the highest quintile, while 6.7 percent of households have income below the poverty level.

Connecticut’s 5^th Congressional District (.4810) ranked number 88 on the list of Congressional Districts with the most income inequality among residents.  The state’s 3^rd Congressional District (.4792) ranked at number 95, and the 1^st C.D. (.4631) at number 175.  Much later in the rankings, Connecticut’s 2^nd District (.4261) came in at number 387, indicating it is the C.D. in Connecticut with the least income inequality.

The Gini coefficient, which is calculated by the U.S. Census from household income share by quintiles, was used to measure distribution of wealth. It ranges from zero, which reflects absolute equality, to one, complete inequality. The data was updated in November 2015, using 2014 data.  In 2014, a person living alone making less than $12,071 was classified as in poverty. The threshold increases for each additional household member and varies by the number of adults and children in each household.

CT Start-Up Wins MassChallenge, Takes Home $300,000 to Advance Work in Glucose Monitoring

Connecticut-based Biorasis, with roots at UConn, was recently awarded the MassChallenge’s top prize at their annual awards ceremony in Boston.  The company was one of only four “Diamond Winners,” receiving a cash prize of $100,000. They were also one of two teams to receive the Sidecar Award, providing an additional $200,000 in non-dilutive funding. Biorasis Inc. is a rapidly growing medical device company committed to advancing the field of metabolic monitoring through development of implantable biosensor platforms and basic research in the areas of drug delivery, nanotechnology and microelectronics.  The company’s goal is to vastly improve the quality of life of diabetics.

The technology developed by Biorasis, the Glucowizzard™, is an ultra-small implantable biosensor for continuous, reliable glucose monitoring. This needle-implantable device wirelessly transmits glucose levels to a watch-like unit for real-time display, which in turn communicates with personal digital accessories like a smartphone. Continuous metabolic monitoring “holds great potential to provide an early indication of various body disorders and diseases,” the company website explains, adding that Biorasis’ implantable multi-sensor platform is “capable of such real-time, continuous monitoring.”

Biorasis is in the business of developing a miniaturized, hypodermic-injectable biosensor for reliable continuous glucose monitoring (CGM) with autonomous operation for 3-6 months that requires no user intervention.

Their solution “eliminates surgery for sensor implantation and extraction, restores active life style, enables remote care for juveniles and the elderly, enhances compliance, and saves 50-70% in annual healthcare costs.”

The company’s co-founders and scientific advisors are:

• Faquir Jaina, a Professor of Electrical & Computer Engineering at the University of Connecticut. He has over 35 years of experience in design, modeling and fabrication of micro/opto-electronic devices, integrated circuits and multiple quantum-well light valves/modulators.
• Fotios Papadimitrakopoulos, a Professor of Chemistry and Associate Director of the Institute of Materials Science at University of Connecticut. He has over 20 years of experience in the areas of polymers, nano/bio-systems and supramolecular assembly of nanostructures.

The company continues to grow, and their scientific team is currently expanding. The Biorasis website indicates that the company is seeking individuals with “a proven track record and experience in the areas of medical devices, electrochemistry, polymer science, pharmaceutics, animal studies, microelectronics and device packaging.” Inquiries can be directed to Biorasis at the UCONN Technology Incubation Program in Storrs.  Additional investors are also being sought.

MassChallenge, an independent nonprofit organization, envisions “a creative and inspired society in which everyone recognizes that they can define their future, and is empowered to maximize their impact.” They note that “novice entrepreneurs require advice, resources and funding to bring their ideas to fruition. Currently there is a gap between the resources these entrepreneurs need and the ability of the entrepreneurial ecosystem to provide them.” To bridge that gap, the organization’s primary activities include running an annual global accelerator program and startup competition, documenting and organizing key resources, and organizing training and networking events.  They “connect entrepreneurs with the resources they need to launch and succeed immediately.”