Issue link: https://nebusinessmedia.uberflip.com/i/1107127
www.HartfordBusiness.com • April 22, 2019 • Hartford Business Journal 5 PDS has been meeting the needs of the construction industry since 1965. Our dedicated team of design and construction professionals welcomes the challenge of serving its past and future customers on their most demanding projects. Valenti Chevrolet Dealership | Wallingford, Connecticut PDS Engineering & Construction served as design/builder for this 16,888 SF addition to the existing dealership. Design elements included civil, structural, and MEP. Project Features: • Showroom and offi ces • Service department • Detailing area • Technician space • Storage Highly recommended, competitive, straightforward ... on-time and on-budget. – David Valenti, President, Valenti Auto Sales 107 Old Windsor Road, Bloomfi eld, CT 06002 (860) 242-8586 | Fax (860) 242-8587 www.pdsec.com DESIGN BUILDERS • GENERAL CONTRACTORS • CONSTRUCTION MANAGERS SPOTLIGHT ON: C PDS ENGINEERING & CONSTRUCTION, INC. THINK • PLAN • BUILD NOMINATE TODAY! WWW.HARTFORDBUSINESS.COM/OUREVENTS DEADLINE: MAY 20TH FORTY 40 UNDER NOMINATE TODAY! WWW.HARTFORDBUSINESS.COM/OUREVENTS FORTY FORTY FORTY FORTY FORTY FORTY 40 40 40 DO YOU KNOW A YOUNG PROFESSIONAL WHO IS IN A LEAGUE OF THEIR OWN? EVENT SPONSOR: PRESENTED BY: PRESENTING SONSORS: EDUCATION LEADERSHIP SPONSOR: CT lawmakers look to leverage Opportunity Zones By Greg Bordonaro gbordonaro@hartfordbusiness.com I nvestors, developers and economic- development officials have been ea- gerly awaiting the potential impact of Opportunity Zone investments. Now, the state legislature is look- ing to further leverage and encourage them as well. The Opportunity Zone (OZ) program was created as part of the 2017 federal tax reform law to spur realty- and business-development in the U.S.' neediest communities. It allows taxpayers who invest in qualified Opportunity Zones to be eligible for capital gains tax incen- tives. Besides investors, anticipated beneficiaries are the 72 low-income neighborhoods in 27 municipalities across Connecticut that have been tagged as OZs. That includes zones in Hartford, West Hartford, East Hartford, Bristol, Middletown, Mer- iden and Manchester. State lawmakers have proposed Sen- ate Bill 570 in order to further support the federal program. If passed, it would: • Make OZ projects eligible for expedited permit reviews from the state Department of Economic and Community Development's (DECD) Office of the Permit Ombudsman. • Require the DECD commissioner to study the federal Opportunity Zone program and how the state may further incentivize its use. • Require the DECD commissioner to collaborate with local, private and civic partners to host at least five regional events advertising the state's OZs. The bill received unanimous sup- port in the Commerce Committee and is now awaiting further action in the Senate. Among its proponents is state Sen. James Maroney (D-Milford) who said other states, including Maryland and Kentucky, have passed laws to further leverage OZs. He wants Connecticut to do the same. The intersection of Jefferson and Washington streets, near Hartford Hospital, could benefit from new development because it's located within an Opportunity Zone. PHOTO | HBJ FILE and CAA's courting of carriers for West Coast and other international routes are largely driving the board's interest. The idea of re-naming Bradley isn't new, but it makes particular sense to consider it now, because planned infrastructure updates at the airport will include new signage, Sheridan said. So, if the name is going to be changed, that decision should be made before putting up Bradley signage, which could become obsolete. For $2.8M, GreatBlue, ZAG buy Glastonbury HQ Two Greater Hartford digital- marketing and marketing data-research firms teamed up to pay $2.8 million for a Glastonbury office building to serve as their joint headquarters. Michael Vigeant, CEO of GreatBlue Research Inc., formerly of Cromwell, said that he and two high-school pals, principals in ZAG Interactive, a Glastonbury website designer/ developer, partnered to buy 20 Western Blvd., a two-story, 30,000-square-foot office building on 4.4 acres, from seller American Eagle Financial Credit Union. The sale of the 38-year-old property closed March 22, Vigeant said. A week later, GreatBlue's some 50 staffers, furnishings and equipment had been relocated to 8,000 square feet on the first floor of its new home from leased Cromwell space at 162 West St. ZAG, meanwhile, is expected to relocate its staff and equipment from nearby 148 Eastern Blvd., and occupy all 15,000 square feet on the top floor by this fall, Vigeant said.