Hartford Business Journal

HartfordBusiness.com | March 8, 2021 | Hartford Business Journal 3 program this fall, and is accepting applications beginning this month. UConn's Board of Trustees recently endorsed the program, which is slated to start in late August with an initial class of 40 students, according to UConn. "Our full-time, part-time, and executive MBA programs have always been enormously popular, but we recognize that some of our prospective students are eager for a more flexible educational option," said John Elliott, dean of UConn's School of Business. UConn's online MBA is a three- year program, according to the university. Students will be able to choose from concentrations including business analytics, management, digital marketing and finance. CT's insurance 'captive' count jumped in 2020 Connecticut's captive insurance BIZ BRIEFS CID Commissioner Andrew N. Mais. PHOTO | CONTRIBUTED industry just had one of its largest growth years since the state began licensing the entities, which are formed to provide property-casualty coverage for their corporate owners. The Connecticut Insurance Department said it licensed six new captives in 2020, which is a nearly 38% increase from the 16 that existed here at the end of 2019. "Our long-term goal is for Connecticut to continue to grow its presence as one of the nation's most attractive and well-respected states in which businesses can domicile their captive insurance companies," CID Commissioner Andrew Mais said. Mais credited the 2020 increase to outreach efforts by CID's captive division, assisted by several industry groups such as the Connecticut Captive Insurance Association and Connecticut Society of CPAs. Connecticut began licensing captive insurers back in 2012, offering a $7,500 tax credit. New Britain industrial property sells for $790K A New Britain industrial property on John Downey Drive has sold for $790,000, city records show. The 34,046-square-foot property at 155 John Downey Drive sold in January. The buyer was 155 JDD LLC, which is controlled by Christian Podedworny of Brooklyn, New York. The seller was United Plastics Technologies Inc., which is controlled by Vinnie Dicioccio. The property was built in 1972 and underwent renovations in 1999, according to CoStar. It has six loading docks and 75 surface parking spaces. Peter Graham at Graham Real Estate represented the buyer and seller in the deal. Housing permits off to slow start in 2021 New housing construction in Connecticut got off to a slow start this year. There were 205 housing permits issued in January, down 8.5% from 224 issued in the first month of 2020, according to the U.S. Census Bureau, which tracks data in 104 of Connecticut's 169 cities and towns. The January activity showed a continued trend of more single-unit housing permits and fewer permits for multifamily projects. There were 159 single-unit permits issued during the month, up from 124 a year prior, and 44 permits for construction of five units or more, down from 78 such permits in Jan. 2020. Hartford HealthCare opens orthopedic center, sponsors new event venue in Bridgeport Hartford HealthCare recently announced two major initiatives in Bridgeport: A new orthopedic institute at the city's St. Vincent's Medical Center and its branding on the new Hartford HealthCare Amphitheater. The Hartford-based health system cut the ribbon on the Connecticut Orthopaedic Institute at St. Vincent's in late February. HHC bought St Vincent's in 2018 in a $244 million deal. The 473- bed hospital, previously owned by Catholic operator Ascension, was HHC's first major facility in Fairfield County and the second largest of its seven hospitals, after its flagship Hartford Hospital. The new orthopedic center will bring together 50 surgeons from local practices, operating out of a 30,000-square-foot inpatient unit at the hospital dedicated to orthopedics and spine procedures. HHC also announced that it had bought the naming rights to the new arena located at 500 Broad St., the former Bridgeport Bluefish stadium. Promoter Live Nation will manage the 5,700-seat venue, designed for live music and large events. The new Hartford HealthCare Amphitheater is slated to open May 15, starting with 10 local college and university graduations.

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