CT Is a Top Ten State - In A Good Way

Awash in a sea of negativity amidst yet another state budget deficit and intensifying concern about the prospects of additional fees, taxes, and service reductions, state residents now have an opportunity to accentuate the positive, courtesy of the 2017 Connecticut Economic Review. Noting that Connecticut is “at the epicenter of the Northeast” and “at the forefront of innovation,” the publication highlights an array of statistics that produce a “dynamic blend of advantages that make Connecticut a great place to start or grow a business.”

Among the key stats:

• Connecticut ranks #3 in the country for the percentage of employees with advanced degrees - more than 400,000 employees have advanced degrees. And Hartford was identified as one of the 19 global Knowledge Capitals by the Brookings Institution.

• Connecticut ranks #4 among the top states for private R&D investment per capita, at $2,227. Massachusetts, Delaware and California are the only states that rank higher. That’s also more than twice the national average.

• Connecticut ranks #5 among the states for productivity per person, and #6 on the State Technology and Science Index, which benchmarks states on their science and technology capabilities and broader commercialization ecosystems that contribute to company growth, high value-added job creation and overall economic growth.

The state’s growing bioscience industry is responsible for more than 35,000 bioscience employees in over 2,000 companies. Connecticut also ranks #6 for academic R&D growth and #7 for state R&D investment.  Overall, the state ranks 5^th in patents per capita and has 39 percent more patents than the U.S. average. Two Connecticut companies, Alexion and priceline.com, have been named by Forbes as among the nation’s most innovative companies.

In his introduction to the economic report, Governor Dannel Malloy points out that “Connecticut has grown to become a global hub in bioscience, digital media and green technology. We enjoy a combination of a real entrepreneurial spirit, remarkable experience and one of the most educated and productive workforces in the world.”

The New Economy Index, which measures how states are positioned to drive economic evolution in today’s changing society, ranks Connecticut #8 in the U.S., indicating that the state “offers the kind of environment that is particularly conducive to growth for companies that are capitalizing on the latest global economic trends.  (The top seven are Massachusetts, Delaware, California, Washington, Maryland, Colorado and Virginia.)  The ranking is based on measures in five key areas:  Knowledge jobs, Globalization, Economic dynamism, digital economy, and innovation capacity.

Produced by the Connecticut Economic Resource Center, the publication was sponsored by Eversource.

Number 9: CT Among Nation's Leaders in Innovation

Connecticut is the nations 9th most innovative state, according to a new analysis by the financial website WalletHub.  The state also placed sixth in research & development spending per capita and ninth in venture-capital funding per capita, the review of the 50 states found. Overall, the top 10 most innovative states included District of Columbia, Maryland, Massachusetts, California, Colorado, Washington, Virginia, Utah, Connecticut and New Hampshire.  New Jersey ranked #12 and New York was #16.  At the other end of the spectrum, the least innovative states were Louisiana, Mississippi and West Virginia.

In individual categories, Connecticut placed:

• 13^th – Share of STEM Professionals
• 14^th – Share of Science & Engineering Graduates Aged 25+
• 15^th – Projected STEM-Job Demand by 2020
• 15^th – Avg. Internet Speed
• 24^th – Share of Technology Companies
• 27^th – Eighth-Grade Math & Science Performance

WalletHub’s analysts compared the 50 states and the District of Columbia across two key dimensions, “Human Capital” and “Innovation Environment,” evaluating those dimensions using 18 relevant metrics.

The Norwalk Hour is reporting that Connecticut Public Television is moving forward with its plan to create an innovation and tech center along Wall Street in the heart of Norwalk. The project would require bonding from the state, with Connecticut Public Broadcasting borrowing another $5 million to $7 million, Hearst Connecticut Media learned last October.

The Connecticut Technology Council's annual Women of Innovation event takes place next week, on March 29.  The Women of Innovation event seeks to create :"a growing network of women in the “trenches” of STEM." Finalists are the scientists, researchers, academics, manufacturers, student leaders, drafters, entrepreneurs, and technicians "who create tomorrow’s advancements through their tireless efforts today," the organization said.  The awards will recognize Academic Innovation and Leadership at the High School and College level, Community Innovation and Leadership, Entrepreneurial Innovation and Leadership and Research and Innovation Leadership, as well as innovation and leadership at small and large businesses.

Data used to create the ranking were collected from U.S. Census Bureau, Bureau of Labor Statistics, National Science Foundation, National Center for Education Statistics, Georgetown University’s Center on Education and the Workforce, United States Patent and Trademark Office, Ewing Marion Kauffman Foundation, Tax Foundation, Consumer Technology Association, Akamai Technologies, U.S. Cluster Mapping Project and National Venture Capital Association.

Connecticut Main Street Center Award Winners Reflect Excellence, Community Involvement

A downtown management organization engaging the community in envisioning two underutilized parks as places that downtown residents, visitors, workers and families can mingle with artists and creatives, and a regional planning organization that created a program focused on supporting local businesses, creating jobs and filling vacant spaces in eight village centers are just two of this year's Awards of Excellence winners being recognized by the Connecticut Main Street Center (CMSC). In total, eight recipients have been selected to receive the prestigious awards, including organizations and initiatives from Bridgeport, Unionville Village in Farmington, Hartford, Meriden, New Britain, New Haven, and the Northwest Corner.  The awards will be presented at CMSC's Vibrant Main Streets event in the atrium of the Legislative Office Building on May 18 in Hartford.

The other winning entries include:

• a 14-acre flood control project that created a public park and mixed-use economic development in downtown Meriden;
• a comprehensive and complete overhaul of the City of Hartford's zoning language and process;
• an interpretive wayfinding/signage program that connects Walnut Hill Park, Little Poland and Downtown New Britain;
• the restoration of a historic ball bearing mill on the banks of the Farmington River into a mixed-use campus in the heart of Unionville Village;
• a Twilight Bike Race & Street Festival that celebrates biking, food, culture and entertainment in Downtown New Haven; and
• the redevelopment of a 1903 factory building into 72 units of market rate housing within easy walking distance of jobs and transit in downtown Hartford.

"This year's winners represent both catalytic and keystone initiatives that ignite and support significant positive change in Main Street communities," said CMSC Associate Director Kimberley Parsons-Whitaker. "From engaging the community in playing a proactive role in local economic development and envisioning new life for their historic public places, to the complex redevelopment of historic mills and factories for modern residential and commercial uses, our 2017 award recipients are leaders in re-imagining Main Streets."

In addition to its Awards of Excellence, CMSC also named the recipient of its 2017 Founder's Award, presented by Eversource Energy. CMSC founding President & CEO John Simone, who will retire in August, was selected to receive the Founder's Award for his more than 17 years of leading the organization's evolution as the voice of downtown, and for championing the tools, resources and political will needed for Connecticut's Main Streets to thrive.

Connecticut Main Street Center's mission is to be "the catalyst that ignites Connecticut’s Main Streets as the cornerstone of thriving communities."  CMSC works at both the local and State level to create and implement successful downtowns that meet the needs of residents and visitors. The organization describes a successful downtown as "one that incorporates housing, retail, social and business opportunities with transportation options for all users – walkers, cyclists, motorists and more."   Created in 2003 to recognize outstanding projects, individuals and community efforts to bring traditional downtowns and neighborhood commercial districts back to life, socially and economically, the Awards of Excellence are presented annually.

2017 Connecticut Main Street Center Awards of Excellence

CT Main Street Catalyst Awards

•  Meriden Green - Recipient: City of Meriden. Partners: State of CT (DECD, DEEP, DOT); U.S. EPA; FEMA; Army Corps of Engineers; Meriden Flood Control Implementation Agency; Milone and MacBroom; AECOM; and La Rosa Construction.
• Downtown Bridgeport Placemaking Program & Downtown Farmers Market at McLevy Green - Recipient: Bridgeport Downtown Special Services District. Partners: Project for Public Spaces; New Venture Advisors LLC.
• ZoneHartford: Form-Based Code Zoning Regulations - Recipient: City of Hartford. Partners: Fitzgerald & Halliday, Inc.

CT Main Street Keystone Awards

• Collaborative Shared Economic Development Services Project - Recipient: NW Hills Council of Governments. Partners: Goman+York; One Eleven Group; State of CT (OPM); Towns of Canaan/ Falls Village, Cornwall, Goshen, Kent, North Canaan, Norfolk, Salisbury/Lakeville and Sharon
• New Britain Historic Trails & Signage Program - Recipients: City of New Britain; TO Design LLC. Partners: National Parks Service
• Upson Market Place, Unionville - Recipient: Brian Lyman of Parker Benjamin Real Estate Services LLC. Partners: Town of Farmington.
• New Haven Grand Prix: a Twilight Bicycle Race & Street Festival - Recipients: CT Cycling Advancement Program; Town Green District (New Haven). Partners: City of New Haven; Taste of New Haven.
• Capewell Lofts, Hartford - Recipient: CIL. Partners: Capital Regional Development Authority; State of CT (DECD); InsurBanc; Guilford Savings Bank; Crosskey Architects; TO Design

CT Residents Have Among the Highest State & Local Tax Burdens in US

Two separate analyses of tax burdens across the nation’s 50 states have placed Connecticut in the top ten – among those with the highest state and local tax burden.  The state-by-state reviews, by the financial websites 24/7 Wall Street and WalletHub, rank Connecticut second and sixth respectively. “With some of the wealthiest neighborhoods in the country, Connecticut residents pay more in property taxes than in nearly any other state,” says 24/7 Wall St. in its review. “Residents pay $2,774 per capita in property taxes, almost twice the national average. The state’s effective property tax rate of 1.7% of the value of a typical Connecticut home is the sixth highest of any state. Despite the high tax burden overall, the state’s pension system is relatively underfunded. Connecticut has just 51% of the funding for its pension obligations, the fourth smallest share nationwide.”

The Connecticut financial highlights include:

• Taxes paid as pct. of income: 12.6%
• Income per capita: $68,704 (the highest)
• State income tax collections per capita: $2,279 (the highest)
• Property tax collections per capita: $2,774 (3rd highest)
• General sales tax collections per capita: $1,137 (8th highest)

In the 24/7 Wall Street report, the highest tax burden was attributed to New York.  Rounding out the top ten after Connecticut were New Jersey, Wisconsin, Illinois, California, Maryland, Minnesota, Rhode Island and Oregon.

The WalletHub rankings, using a somewhat different methodology, ranked Connecticut has having the 6^th highest tax burden among the states.  Include were these snapshots of Connecticut (the higher the ranking the lower the rate):

• 46th – Overall Effective State & Local Tax Rate
• 33rd – Income Tax
• 34th – Sales & Excise Taxes

The highest tax burdens were in Illinois, Nebraska, Wisconsin, New York, Rhode Island, Connecticut, Ohio, Michigan, Iowa and New Jersey.  In order to identify the states with the highest and lowest tax rates, WalletHub’s analysts compared the 50 states and the District of Columbia across four types of taxation, real estate tax, vehicle property tax, income tax and sales & excise tax.

Disparities Evident As Fairfield County Considers Its Community Wellbeing

Fairfield County’s sizeable immigrant population - twenty percent of Connecticut’s most populous county - grew 89 percent from 1990 to 2014. In some municipalities, foreign-born residents make up as much as a third of the population. That is among the findings in the Fairfield County Community Wellbeing Index 2016, which examined regional demographics, economic opportunity, education, health, quality of life, and happiness.  The report includes analysis of the communities, populations, and neighborhoods of Fairfield County, as well as opportunities available and issues facing the area.

Since 1980, the size of the population living in neighborhoods that are considered most affluent – defined as those with an average family income more than 2.5 times higher than the state level - has tripled within Fairfield County. Meanwhile, the number of people living in poor neighborhoods is 3.5 times its 1980 size. The number of people in middle-income neighborhoods has decreased by sixteen percent.

Fairfield County’s Community Foundation, a major funder of the report, partnered with DataHaven, area hospitals, and government agencies to help launch a more robust and comprehensive resource that could serve as a part of the hospitals’ and health departments’ Community Health Needs Assessments as well as a broader county-wide indicators program.

“Fairfield County’s Community Foundation is committed to addressing the most pressing issues facing Fairfield County, but to do that we first need to be able to identify and understand those issues,” stated Nancy M. von Euler, Vice President, Programs, Fairfield County’s Community Foundation. “The data in the Fairfield County Community Wellbeing Index 2016 will help us to develop priorities for collective action to build a stronger, healthier Fairfield County where everyone has the opportunity to thrive, regardless of their zip code.”

The report states that "Despite its overall affluence, Fairfield County is among the nation’s most unequal metropolitan areas. Inequities in well-being appear when evidence is stratified by income, age, race, gender, and zip code. These differences are often most apparent after considering data that were collected specifically for the age groups and neighborhoods that are most impacted."

Among the findings, between 2014 and 2025, adults ages 65 and over are Fairfield County’s only age group projected to grow significantly, with a thirty-seven percent increase. Disparities in the County were also evident:

• High and rising childcare costs are often prohibitively expensive for low and middle-income families. While Fairfield County has nearly enough spaces for all 3- to 4-year-olds to attend preschool, there are only enough regulated childcare slots for fifteen percent of the county’s children ages 0 to 2, and enough subsidized slots to cover only twenty-two percent of these youngest children in low-income households.

• The issue of dental care arose as an indicator of well-being, particularly among younger adults and families. The Index shows that for every 10,000 residents living in Fairfield County, 12 residents visit an emergency room to receive treatment for preventable dental conditions in any given year, whereas on the East Side of Bridgeport, 178 residents do.

• Fairfield County residents are healthy when compared to national benchmarks. However, many conditions and risk factors—such as asthma, food insecurity, exposure to community violence, and the early onset of diabetes—are disproportionately prevalent in lower-income neighborhoods and communities of color. Sections of Bridgeport in particular fall very far behind the surrounding area in many of these measures.

• Disparities in access to reliable transportation persist between racial and income groups. A majority of Fairfield County workers, regardless of income, commute to another town for work. Many low-income (annual wages under $40,000) workers leave Bridgeport for work, while large shares of high-income workers commute to New York City.

“The process of developing this report allowed local partners and community members to identify links between the well-being of residents and the places where they live. Looking beyond typical measures like income levels or unemployment rates, the Community Wellbeing Index reveals a much more uneven distribution of opportunities in areas such as neighborhood walkability, economic development, public health, and education,” said Mark Abraham, Executive Director of DataHaven and a lead author of the report. “The impact that these barriers to opportunity have on overall well-being and happiness will serve as a call to action for many groups working to improve Fairfield County’s diverse neighborhoods and towns.”

The Fairfield County Community Wellbeing Index 2016 was based on a variety of federal and statewide data sources. Partners of DataHaven’s Fairfield County Community Wellbeing Index 2016 include Fairfield County’s Community Foundation; Bridgeport Hospital; Danbury Hospital; Greenwich Hospital; Norwalk Hospital; St. Vincent’s Medical Center; and Stamford Hospital.

10 CT Companies Are Finalists at Entrepreneur Innovation Awards, Three Receive Funds to Boost Growth

Fledgling entrepreneurial businesses in West Hartford, New Haven and Marlborough will be getting a financial boost in their efforts to gain a foothold in their respective industries. CTNext, Connecticut’s go-to resource for entrepreneurial support, announced the three winners of the most recent Entrepreneur Innovation Awards (EIA), held this month at the Connecticut Historical Society in Hartford.

The finalists, Connecticut-based companies and entrepreneurs, presented their innovative project ideas to a panel of entrepreneurial experts for an opportunity to secure $10,000 awards to help support business growth. The top winners, to receive $10,000 awards, were:

• GinzVelo Hybrid Electric Cycles (West Hartford): A personal transportation solution powered by pedaling or the electric motor to effortlessly travel up to 100 miles to and from your destination.
• Sweetflexx (Marlborough): Resistance technology active wear enables muscles to work more efficiently, resulting in a higher rate of calorie burn.  McCullough Shriver founded Sweetflexx. (see video below)
• Verb Energy Manufacturing (New Haven): A healthy, caffeinated, energy bar that combines your cup of coffee and an energy bar for less cost. Verb Energy  was founded in 2016 by four Yale students.

The “judges’ favorite” went to Sweetflexx, and the “crowd favorite” was awarded to Verb Energy.  Each business will receive an additional $2,000.

The other finalists included:

• Global Hydro Pneumatic High Tech Inventions (Shelton) Developing an all-wheel hydraulic power jack system that is safer and less damaging to cars.
• Loki (Woodbridge) Creating an app that gives users control over their own multi-perspective visual experience.
• Mobile Sense Technologies (Farmington) Engineering an “off-the-chest” ECG monitor for 24/7 management of cardiac arrhythmias.
• Obvia (West Hartford) Creating a lightweight, dual-winglet blade for small to mid-sized wind turbines that is both energy- and cost-efficient.
• Olie Robotics (Manchester) Building a professional robotic vacuum that cleans offices at a third of the cost with no labor hassles.
• PennSMART (North Branford) Producing a universal retrofit for lighting fixtures that allows surveillance and sends alert notifications.
• Trekeffect (Niantic) Creating an app that allows individuals to sell their travel itineraries.

“The Entrepreneur Innovation Awards seek to give new and growing companies the support they need to thrive,” said Glendowlyn Thames, executive director of CTNext. “Through these events, we have seen a number of incredible companies that are changing their respective industries and creating a positive economic impact in our state. These grants continue to support companies at the earliest stages of growth and to drive them to the next level of development.”

To be eligible for an EIA, startups must be Connecticut-based, registered as CTNext members, and looking to conduct growth-related activities to help advance their business. Project examples include but are not limited to prototyping, performance testing, compliance testing, product or service development, market research, licensing and more.

A full list of criteria can be found on the application page. For more information on the program or to apply, please visit: http://ctnext.com/entrepreneur-innovation-awards/.  CTNext launched in 2012 and has more than 1,500 members in its network, since initiating the awards program in February 2014 CTNext has awarded $544,000 to 52 companies.

The goal of CTNext is to build a more robust community of entrepreneurs and to accelerate startup growth by providing access to talent, space, industry expertise, services, skill development and capital to foster innovation and create jobs for people in Connecticut.

https://youtu.be/f7AxJz-KsUA

Bridgeport, Stamford, New Haven, Hartford, New Britain Among Most Culturally Diverse Cities in USA

Five Connecticut cities are among the nation’s most culturally diverse, according to a new analysis.  Bridgeport is the 15^th most culturally diverse city in the U.S., according to the analysis by the financial website WalletHub, which also ranked Stamford at number 22.   New Haven, Hartford and New Britain were back-to-back-to-back, ranking  at number 30, 31 and 32 on the list of more than 500 cities across the country. Bridgeport’s cultural diversity score was 86.34, and the city ranked 28^th in ethno-racial diversity, 17^th in linguistic diversity and at number 150 in birthplace diversity.  Stamford’s cultural diversity score was 84.29, and the city ranked 63th in ethno-racial diversity, 20th in linguistic diversity and at number 103 in birthplace diversity.

New Haven’s scores and rankings were similar, with a 83.02 cultural diversity score, and ranking at number 76 in linguistic diversity and number 132 in birthplace diversity.  New Haven was the only Connecticut city to rank in the top 10 in any category, finishing ranked at number 10 in ethno-racial diversity.

When the analysis broke metropolitan areas down by size, among medium sized cities Bridgeport, Stamford, New Haven and Hartford all ranked in the top 15 most culturally diverse.  Waterbury ranked at number 19.  Among small cities, New Britain ranked 8^th, Danbury 10^th, Norwalk 15^th and West Hartford 76^th.  Large cities in the analysis were those with more than 300,000 people; midsize cities with 100,000 to 300,000 people, and small cities with fewer than 100,000 people.

The most culturally diverse city in the U.S. is Jersey City, New Jersey, with a score of 95.88.  New York City ranked sixth; Providence was at number 12.

“The country as a whole is becoming increasingly ethnically diverse, and living in an ethically diverse city today is good exposure to the opportunities and challenges all cities will be facing sooner or later,” said Mario Luis Small, Grafstein Family Professor of Sociology at Harvard University.  “Ethnic diversity in neighborhoods is associated with a strong preponderance of businesses and local organizations that generate economic activity and sustain community.  Children exposed to ethnic and language diversity early on, develop a broader and more sophisticated understanding of the diversity of the world.”

In determining the cultural diversity scores, the three categories were weighted, with racial and ethnic diversity making up 50 percent of the score, language diversity 33 percent and U.S. region of birth diversity consisting of 17 percent of the score.  The regions were in-state, Northeast, Midwest, South, West, U.S. territories, and foreign-born.

Survey Says: Hartford Is Among Nation’s Top Up-and-Coming Cities

What do Milwaukee, Syracuse and Hartford have in common? They are all – believe it or not – the nation’s most notable “up-can-coming place to live,” according to a new national analysis of the top places to live in the U.S.

In calculating the second-annual ranking of the Best Places to Live in the U.S., which evaluates the 100 most populous metro areas in the country based on qualities that Americans care about most, U.S. News looked at affordability, employment opportunities and the overall quality of life in each place.  Hartford’s ranking jumped from number 59 a year ago to number 31 this year, among the largest leaps of any city in the nation.

The leading reason cited by the publication is the increase in jobs.

"The Hartford region has seen some strong employment growth in a number of high-productivity sectors, including professional, technical services, education and health services," said Alissa DeJonge, vice president of research at the Connecticut Economic Resource Center.

The types of job opportunities that are available in the Hartford area tend to pay well, the publication points out, “with residents earning nearly $57,000 per year on average, which is significantly more than the average American's salary of $48,320 per year. United Technologies Corp. provides employment to residents in the manufacturing and engineering sectors, and the region is home to some of the country's largest financial institutions, including Aetna Inc. and the Hartford Financial Services Group.”

"Hartford is known as the 'insurance capital' of the U.S., a title substantiated with Connecticut ranking No. 1 in the U.S. for insurance employment per capita, with many of those employers located in the Hartford region," added Susan Winkler, executive director of Connecticut Insurance and Financial Services. "Connecticut is also home to the highest concentration of actuaries – many located in the Hartford region."

The U.S. News review also notes that the region features a diverse selection of restaurants and cultural attractions. Paul Pita, CEO and executive creative director of Hartford-based digital marketing firm The Pita Group, told U.S. News "Hartford is a great place to live because residents have access to what they need: great options for housing, great educational options and a wide variety of lifestyle options for food, arts, culture, entertainment and outdoor activities."

Syracuse moved from #53 to #28, and Milwaukee climbed from #72 to #47.  The top 10 places to live in the U.S., according to the rankings, are Austin, Denver, San Jose, Washington D.C., Fayetteville, Seattle, Raleigh/Durham, Boston, Des Moines, Salt Lake City and Colorado Springs.  Portland, Maine ranked #26 and Albany ranked #30, just ahead of Hartford.  New Haven ranked #81 in the top 100.

The metro areas included in the rankings were evaluated by U.S. News using data from sources including the United States Census Bureau, the Federal Bureau of Investigation, the Department of Labor and U.S. News' own internal resources. This data was categorized into five indexes – Job Market (including salary and unemployment rates), Value Index (including cost of living), Quality of Life Index (including education, crime, commuting, and health care), Desirability Index, and Net Migration - and then evaluated using a methodology determined by Americans' preferences. The percent weighting for each index was determined by the answers to a public survey in which people from across the country voted for what they believed was the most important thing to consider when thinking about moving, according to U.S. News.

Whalers Hartford Attendance 20 Years Ago Exceeds Islanders in Brooklyn

For Hartford hockey fans of the Whalers vintage, a peek at this year’s National Hockey League (NHL) attendance figures are either demoralizing or encouraging – or both.  It has been two decades since the Whalers were uprooted by ownership, replanted in North Carolina and renamed the Hurricanes, and two weeks since Gov. Dannel Malloy and Hartford Mayor Luke Bronin took their first shot at the now Brooklyn-based New York Islanders. Lowest attendance in the NHL this year belongs to the Carolina Hurricanes, at 12,025 through 24 home games, followed at the bottom of the league by the Islanders, averaging 12,829 through 32 home games, as of this week.

Last year, the 2015-16 season, the Hurricanes averaged 12,203 for their 41 home games, last in the league, while the Islanders were third lowest in the NHL at 13,626.  Both are lower than the Whalers average attendance in their final season in Hartford, nearly two decades ago.

In comparison, the top teams in the league this year for home attendance are the Chicago Black Hawks, averaging 21,669 and Montreal Canadians, seeing 21,288 per game thus far this year.

In their final season on Long Island at the Nassau Coliseum in 2015-16, the Islanders average home attendance was 15,189, an increase from the immediate previous seasons.  The Carolina Hurricanes had the second lowest attendance in the league that year, at 12,594.  During the 2012-13 season, the Islanders attendance was the lowest in the 30-team league, at 13,306.

With more than 1,000 obstructed seats in the Barclay Center arena that the Islanders share with the New York Nets in Brooklyn, rumors have circulated since last year of a possible move to a new arena in Queens built for hockey, unlike the Islanders current home, first and foremost a basketball arena.  There has been local opposition to that possibility.  Recent published reports have also indicated that the Barclay Center and Islanders could part company after the 2018-19 season or a year earlier if the team decides to relocate.

With no official word one way or the other, Connecticut officials are taking their shot, with a possible assist from a $250 million makeover of the XL Center, former home of the Whalers.  That proposal must be approved by the state legislature, a tall order at a time when the state budget deficit is approaching $2 billion.

In the Whalers’ final season in Hartford, 1996-97, attendance at the Hartford Civic Center had grown to 87 percent of capacity, with an average attendance of 13,680 per game.  Published reports suggest that the average attendance was, in reality, higher than 14,000 per game by 1996-97, but Whalers ownership did not count the skyboxes and coliseum club seating because the revenue streams went to the state, rather than the team.  Attendance increased for four consecutive years before management moved the team from Hartford. (To 10,407 in 1993-94, 11,835 in 1994-95, 11,983 in 1995-96 and 13,680 in 1996-97.)

During the team’s tenure in Hartford, average attendance exceeded 14,000 twice – in 1987-88 and 1986-87, when the team ranked 13th in the league in attendance in both seasons.

In recent years, the Islanders have been at or near the bottom of the league in home attendance:

• 2015-16       28^th
• 2014-15      25^th
• 2013-14      26^th
• 2012-13      30^th
• 2011-12      29^th
• 2010-11      30^th
• 2009-10      29^th

Whalers merchandise continues to sell well, despite the team not having played a single game in this century.  Whalers merchandise was Reebok's top selling non-current NHL team, according to published reports in 2015. While the company has expanded its lineup to include Whalers logos from different eras, the Hartford Business Journal reported, gear featuring the team's original logo remained the most popular and continues to be offered on the NHL Official Shop website, on multiple websites and in retail locations in the U.S. and Canada.

The Connecticut officials said “this is a ready market anxious for an NHL team, eager to fill seats, buy merchandise, and support your team,” reminding Islanders officials that ““Your AHL affiliate is in nearby Bridgeport, allowing quick and easy access to your minor-league players, and represents a footing in Connecticut of the Islander franchise.”

The NHL has given no indication that it will approve a move out of the New York market, according to NBC Sports, although Commissioner Gary Bettman has said that the teams owners “are reviewing the situation and looking very seriously at what their options are.”

The only statement released by Islanders ownership after receiving the letter last week from Malloy and Bronin said the team does “look forward to another great year of New York Islanders hockey at Barclays Center next season.”  No word on what might, or might not, occur after that.

Norwalk, Stamford Gain New Businesses, Taking From Each Other

Octagon Inc., a sports and entertainment marketing and talent management agency, is relocating its headquarters to the Shippan Landing complex in Stamford. The company, which is moving from Norwalk, has signed an 11-year lease to occupy 57,009 square feet across the entire third floor and a section of the second floor of the property at 290 Harbor Drive along the Stamford waterfront. The move apparently comes without state financial incentives, and comes months after another corporate citizen made the reverse move – from Stamford to Norwalk – with a boost from state incentives.  Less than 15 miles and 15 minutes apart, two of Fairfield County’s leading cities are experiencing the corporate version of “Trading Places.”

Crius Energy, through its wholly owned subsidiary Regional Energy Holdings, announced plans last year to move its headquarters from Stamford to Norwalk, placing 200 jobs in the city and committing to add 225 more over the next four years, according to an announcement in May from the Governor’s Office.

Officials said the company – launched in Connecticut – has become one of the largest independent energy retailers in the United States, supplying electricity, natural gas and solar energy products to more than 900,000 customers across 19 states and the District of Columbia, including 100,000 in Connecticut. According to officials, Crius also has operations in Florida, Texas and Australia.  They had outgrown their Stamford facility, which led to plans for a $29 million project in Norwalk, to include the renovation of 48,000 square feet of an existing building. 

To encourage the move, the state Department of Economic and Community Development (DECD) said it would provide a 10-year, $8 million low-interest loan to support the project, funding that can be used for fixtures and equipment and leasehold improvements. Crius is also eligible for up to $2 million in tax credits through the Urban and Industrial Sites Reinvestment Tax Credit Program, as well as a $100,000 grant to train employees, according to state officials.

The Crius Energy website points out that “Although based in Connecticut, many members of our leadership team have relocated great distances to become a part of Crius Energy. Together, they bring more than a century of combined industry and functional expertise as well as a deep-rooted passion for transforming the retail energy sector.”

It was a year and a half ago, in May 2015, that the first lease signing was announced for the then newly-renovated five story, 185,000 s/f office building within the 17-acre Shippan Landing waterfront office park in Stamford. That tenant was Stamford-based Workpoint, a provider of co-working environments geared to the needs of media firms along with independents and professionals.

Published reports indicated that since being acquired in 2012 by George Comfort & Sons in a partnership venture with Angelo Gordon & Company, the six-building, 758,000 s/f office park, formerly known as Harbor Plaza, saw an extensive repositioning and modernization program, which was then nearing completion. Workpoint leased a total of 15,173 s/f, including a 1,000 s/f multicamera studio with green screen, control room, and editing facilities on the building’s second floor, according to published reports at the time.

“Shippan Landing continues to be the preferred destination for some of the nation’s top creative companies and we are pleased to welcome Octagon to our tenant roster,” said Peter S. Duncan, president and CEO of George Comfort & Sons.  Among Octagon’s many clients are household names from the sports world - Stephen Curry of the Golden State Warriors, members of the World Series champion Chicago Cubs and other major league players, current and retired, and Olympic gymnast Simone Biles.

Shippan Point offers what the company describes as “truly is the best business location in the Stamford area,” with “spectacular grounds and magical stretching views.”

Back in 2013, the state Bond Commission approved $1 million in borrowing to help an emergency home repair company move its headquarters from Stamford to Norwalk.  The bonding was aimed at assisting the HomeServe USA Corporation in relocating its headquarters as part of an agreement to create 130 jobs and maintain another 109. In addition to a $1 million grant, the company was also eligible for a $3 million, partially forgivable, loan and up to $5 million in tax credits, local media reported.  The company’s customer call center is located in Tennessee.

And last May, the State Bond Commission approved $22 million in grants and loans for the world's largest hedge fund despite what press reports described as bipartisan complaints that the wealthy company can afford the move without state incentives.  The commission voted 7-2 to award the package to Bridgewater Associates, a financial industry powerhouse operated by Greenwich billionaire Ray Dalio, one of the nation's wealthiest individuals.

At the time, state officials indicated that the financial package helped to prevent the company from potentially relocating from Connecticut to nearby Westchester, N.Y.  The money was expected to be used to renovate and expand the firm's Westport headquarters, along with operations in Wilton and Norwalk, published reports explained. In addition to the loan, Bridgewater was said to also be eligible for two grants: $3 million for energy-efficiency upgrades and $2 million for job-training efforts.  The state apparently initially offered Bridgewater $130 million in loans and grants but the amount was scaled back after the company scrapped plans to build a new corporate complex in Stamford, south of I-95, in the face of local opposition, reports indicated.

https://youtu.be/7mfWZhlN4rE