Issue link: https://nebusinessmedia.uberflip.com/i/1358209
BIZ BRIEFS 3 Hartford Business Journal | April 5, 2021 | HartfordBusiness.com Collinsville Bank – A Division of Northwest Community Bank | collinsvillebank.com Collinsville 860-693-5912 | Canton 860-693-6936 | Farmington 860-393-9200 Litchfield Bancorp – A Division of Northwest Community Bank | litchfieldbancorp.com Litchfield 860-567-9401 | Washington Depot 860-868-7301 | Lakeville 860-435-9828 Torrington 860-482-9707 | Watertown 860-274-7467 Northwest Community Bank | nwcommunitybank.com Avon 860-677-2809 | Granby 860-653-7228 | Simsbury 860-394-2310 New Hartford 860-693-8397 | Torrington 860-482-3423 | Winsted 860-379-7561 Northwestern Regional High School Academic Branch "Reliable, hands-on service and local convenience…on top of everything the big banks offer." "I can't say enough about the advantages of working with our local community bank," says Paul Schmieder, President of Farmington Ready Mix. "We thought we needed the big banks to provide the level of services we currently enjoy with Collinsville Bank – A Division of Northwest Community Bank. If I'm working remotely or go into a branch, I have all the tools I need and it's great that everyone knows m y name. They understand my company and to me, that's value-added." Member FDIC NMLS ID: 510148 – Paul Schmieder, President, Farmington Ready Mix Celebrating 60 years of operations, Farmington Ready Mix is a family-owned business serving the Farmington Valley and Greater Hartford community. Historically focused on residential needs, Farmington Ready Mix has become the go-to producer for commercial, state and local municipal projects. Paul Schmieder, President Farmington Ready Mix Don Lorusso, EVP Commercial Team Leader Collinsville Bank – A Division of Northwest Community Bank Dena Martinelli, VP Branch Manager, Farmington Collinsville Bank – A Division of Northwest Community Bank Half page in Hartford Business Journal Hartford Windsor Marriott Airport Hotel in Windsor. PHOTO | COSTAR Bureau of Economic Analysis data. Connecticut's fourth-quarter GDP increase far exceeded the national average of 4.3% growth, putting the state in the company of South Dakota (up 9.9%), Texas (7.5%), Utah (7.1%), and Tennessee (6.7%) as the top gainers. Government researchers attributed Connecticut's fourth-quarter upswing to growth in the insurance, finance, professional services, health care and waste management sectors. Kitchen cabinet maker, distributor buys Bloomfield property for $2.1M A Bloomfield distribution facility has sold for $2.1 million, according to the deal's broker. The 60,500-square-foot property at 1335 Blue Hills Ave. was purchased by Cheng Huang, owner of Tops Kitchen Cabinet & Granite. The property will be used to assemble and distribute kitchen cabinets, brokers said. The seller was 1335 Blue Hills Ave Assoc LLC/Alvin & Co. Inc., which was a former tenant in the building. Hartford-based Sentry Commercial represented the seller in the deal. Atlantic USA LLC represented the buyer. $2.8B hotel portfolio sale includes Windsor properties A California-based investment firm has sold 185 hotels across the U.S., including three in Connecticut, for $2.8 billion. Colony Capital announced that it had finalized its deal with Tex- as-based hospitality investor-manag- er Highgate and an affiliate of New York private equity firm Cerberus Capital Management. The sale includes Courtyard by Marriott Hartford/Windsor Airport at 1 Day Hill Road, and the Residence Inn Hartford Windsor at 100 Dunfey Lane, both in Windsor. Also included in the deal is the Residence Inn by Marriott Shelton Fairfield County in Shelton. The three Connecticut hotels have a total of 341 rooms. 100,000 The approximate number of fraudulent unemployment benefit claims that have been filed in Connecticut over the past year out of 1.4 million total applications, according to the state Department of Labor. 65% The homeownership rate in Connecticut in 2019, which declined from 66.2% in 2015, according to the U.S. Census Bureau. 240 The number of new housing permits issued in Connecticut in February, which was down 35.1% from the year-ago period, according to U.S Census Bureau data. 3% The growth rate in Connecticut's personal income last year, according to the Bureau of Economic Analysis. BY THE NUMBERS