Industry News
Groton Gets Boost from $22B Navy Sub Contract
By The Associated Press | December 3, 2019 | Reprints | Unlock Link
The U.S. Navy has awarded a $22.2 billion contract for the construction of nine additional Virginia class submarines.
For Banks, Data on Spending Habits Could Be a Gold Mine
By The Associated Press | December 3, 2019 | Reprints | Unlock LinkFor years, Google and Facebook have been showing ads based on a consumer’s online behavior. Now banks, too, want to turn data they already have on consumers spending habits into extra revenue by identifying likely customers for retailers.
215-Unit Mixed-Use Project Pitched for Derby
By James Sanna | December 2, 2019 | Reprints | Unlock LinkA former industrial site a stone’s throw from downtown Derby is in line to be transformed into a mixed-use project.
Simsbury Woman Pleads Guilty to Embezzlement
By The Commercial Record | December 2, 2019 | Reprints | Unlock LinkA Simsbury woman pleaded guilty last week in connection to a scheme to embezzle more than $500,000 from her former employer.
Developer Behind 400-Unit New Haven Project Promises Affordability
December 2, 2019 | Reprints | Unlock LinkThe developer behind a large New Haven multifamily project promised community members at least 10 percent of the building’s units would be set aside as affordable housing.
US Construction Spending Falls 0.8 Percent in October
By The Associated Press | December 2, 2019 | Reprints | Unlock LinkSpending on U.S. construction projects fell 0.8 percent in October, dragged down by declines in apartment and multi-family homebuilding.
How a Central Banker’s Low-Rate Shift Showed the Way for Fed
By The Associated Press | December 2, 2019 | Reprints | Unlock LinkIn mid-2016, even with unemployment falling and the economy growing modestly, James Bullard, head of the St. Louis Federal Reserve Bank, was concerned.
Disaster Coverage is a Disaster for Most
By Lew Sichelman | November 28, 2019 | Reprints | Unlock LinkMany – if not most – homeowners aren’t prepared for a flood, tornado or other natural disaster. And neither, apparently, are their insurance companies.
A Suburban Spin on the Coworking Sector
By Steve Adams | Commercial Record Staff | November 28, 2019 | Reprints | Unlock LinkNational coworking space providers including the troubled WeWork have bypassed the Hartford area in favor of larger metros, leaving an opportunity for local operators to fill the void.
‘Amphibious’ Technology Floated for $40M Hartford Riverfront Project
By Steve Adams | Commercial Record Staff | November 27, 2019 | Reprints | Unlock LinkA Rye, New York businessman is pitching a proposal to transform an acre of downtown Hartford riverfront property with an amphibious building technology system to support a promenade of retail shops, restaurants and event space.
Coldwell Banker Opens New Global Luxury HQ in Westport
November 27, 2019 | Reprints | Unlock LinkColdwell Banker agents and executives were joined by Westport officials to inaugurate the company’s new offices for its “Global Luxury” headquarters at 355 Riverside Ave.
Lamont, General Assembly Dems Will Push for Truck-Only Tolls
November 27, 2019 | Reprints | Unlock LinkGov. Ned Lamont’s plan to use tolls to raise funds to repair the state’s transportation infrastructure is back to where it started, with tolls only on out-of-state trucks.
CT Appeals Rejection of SALT Deduction Lawsuit
By The Associated Press | November 27, 2019 | Reprints | Unlock LinkFour states want a federal appeals court to revive their lawsuit challenging the federal tax overhaul that limited how much can be deducted in state and local taxes.
Conforming Loan Limit Hits $510K in CT, $601K in Fairfield County
By Diane McLaughlin | November 26, 2019 | Reprints | Unlock LinkThe maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac will increase in 2020.
Two Hotels Proposed Behind Olde Mistick Village
November 26, 2019 | Reprints | Unlock LinkA developer has asked the town of Stonington for zoning changes that would let it build a pair of hotels on land next to the Olde Mystick Village shopping complex.
Report: Groton Area Housing Market Could Come Under Pressure
By James Sanna | November 26, 2019 | Reprints | Unlock LinkA new report from the Southeastern Connecticut Council of Governments has found that the ramp-up of submarine production at Groton’s Electric Boat Co. could put the Southeastern Connecticut housing market under pressure.
Carolina Vera Joins Savings Bank of Danbury
By The Commercial Record | November 26, 2019 | Reprints | Unlock LinkCarolina Vera has joined the Savings Bank of Danbury as assistant vice president and business development officer.
Jerome Meets Jasmine: Fed Chief Observes Economic Struggles in East Hartford
By The Associated Press | November 26, 2019 | Reprints | Unlock LinkFederal Reserve Chairman Jerome Powell normally spends his days in the marble halls of Washington, meeting with senators and Fed economists. On Monday, he learned about the job market from an 18-year-old named Jasmine.
Pearce Real Estate Offices Make Gift Baskets for Food Pantries
November 26, 2019 | Reprints | Unlock LinkPearce Real Estate’s commercial team joined agents from its Shoreline and Wallingford offices to make and donate Thanksgiving holiday baskets to area food pantries and social service organizations.
Connecticut CDFI Receives Treasury Grant
By Diane McLaughlin | November 25, 2019 | Reprints | Unlock LinkCapital for Change, a Wallingford-based community development financial institution, has received a $650,000 grant from a U.S. Department of the Treasury program that supports CDFIs nationwide.
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