Issue link: https://nebusinessmedia.uberflip.com/i/1267868
www.HartfordBusiness.com • July 13, 2020 • Hartford Business Journal 5 Hartford-based companies received millions in federal PPP loans More than 320 Hartford-based companies, including restaurants, law firms, nonprofit and religious organizations, received between $150,000 and $10 million in federal loans meant to help small- to midsize businesses suffering from COVID-19 pandemic lockdowns. The Trump administration disclosed the recipients of the Small Business Administration's Paycheck Protection Program amid pressure from Democrats for more transparency on the funds, which were established under the $2-trillion CARES Act. Statewide, a total of 59,876 loans worth more than $6.66 billion were dispensed to Connecticut companies. In Hartford, six companies received between $5 million to $10 million, including law firms Robinson & Cole LLP, Day Pitney LLP and Shipman & Goodwin LLP; Propark America West LLC and Propark Inc.; and nonprofit and social-services agency The Village for Families and Children. HBJ Publisher Zwiebel sells stake in company; Curtin to lead Hartford, New Haven pubs Hartford Business Journal founding Publisher Joe Zwiebel has sold his interest in the company to Chief Revenue Officer Tom Curtin. Zwiebel, who co-founded HBJ's parent company, New England Business Media (NEBM) in 2007 with business partner Peter Stanton, has stepped down from his position as Curtin assumes his new role as president and co-owner leading the company's Connecticut operations as publisher of HBJ and New Haven Biz. Stanton will remain as CEO of NEBM, which also owns Worcester Business Journal and MaineBiz. Bristol manufacturer Barnes Group to lay off 400 employees Bristol-based Barnes Group Inc. will lay off 400 workers, a cost-savings effort announced a few months after the aerospace and industrial components maker reported a 13% decline in first-quarter profits. The move will cost about $18 million, mostly to pay out severance packages, said William Pitts, Barnes' director of investor relations. But cutting staff from about 5,400 worldwide to 5,000 should save the company $30 million per year. Barnes executives pulled the trigger on layoffs after it became clearer that an aerospace industry recovery could take several years. Many businesses in downtown Hartford benefited from receiving a federal Paycheck Protection Program loan. 107 Old Windsor Road, Bloomfi eld, CT 06002 (860) 242-8586 | Fax (860) 242-8587 www.pdsec.com PDS ENGINEERING & CONSTRUCTION, INC. THINK • PLAN • BUILD Spotlight on: Industrial Foodshare | Bloomfi eld, CT Total Project Size: 23,000 SF Another Successful Project by PDS DESIGN BUILDERS • GENERAL CONTRACTORS • CONSTRUCTION MANAGERS PDS was selected as Construction Manager to build a multi-story addition to the existing Foodshare building. This occupied project entailed an extensive freezer cooler system for all refrigerated food items. The project also included new offi ces, several overhead doors, drywall, ceilings, doors & hardware, steel, concrete, painting, and fl ooring. PDS completed this project on time and within budget. LATEST HEADLINES Continued on page 7 >> Joe Zwiebel PHOTO | CONTRIBUTED