Hartford Business Journal

HARTFORDBUSINESS.COM | MARCH 4, 2024 29 POWER 50 11 Martin Looney & Matt Ritter W ith the 2024 legislative session underway, Rep. Matt Ritter and Sen. Martin Looney continue to preside over Democratic majorities in the House and Senate, respectively, making them major influencers in shaping state policy. House Speaker Ritter (D-Hartford), who is also a lawyer at Hartford law firm Shipman & Goodwin, comes from a political family. His father Tom Ritter was a former House Speaker and is now a partner at law firm Brown Rudnick in Hartford. Tom Ritter also sits on the UConn board of trustees. Matt Ritter's mother, Chris- 12 Erin Stewart E rin Stewart had much to cele- brate at the close of 2023. She and her young family welcomed a new baby boy in October. A month later, she cruised to victory in November, winning a sixth term as the Republican mayor in the Democratic city of New Britain. A star in the state's ailing Repub- lican Party, Stewart has already hinted she has interest in running for governor. All eyes will be on her during the next gubernatorial race in 2026. Stewart was the youngest mayor in the city's history when she was first elected in 2013, at the age of 26. She is also the second woman elected mayor, and the only woman to win the seat more than once. Stewart has been a major propo- nent of new apartment development, particularly near the city's CTfastrak bus stop. In 2023, progress continued on projects such as "The Brit," a $20 million, 107-unit apartment devel- opment in downtown; "The Strand," a 100-unit multifamily complex on Main Street; and the $25 million "Highrailer" project that will feature 114 apartment units, retail and restaurant space. Also during her tenure, Stewart helped launch projects like the Energy & Innovation Park, exten- sion of the Stanley Loop Trail and development of the city's new Health Department facility. Stewart is the daughter of former four-term New Britain Republican Mayor Timothy Stewart. Politically, she is a strong proponent of gay rights and pro-choice on abortion. She has won a Women's Lead- ership Award from the Connecticut Republican Party, was named one of Connecticut Magazine's "40 Under 40," and has been featured in profiles in the New York Times, Cosmopol- itan magazine, Time Magazine and Newsmax, which named her one of the "30 Most Influential Republicans Under 30." 13 Kevin Graney K evin Graney leads perhaps the most prolific hirer in Connecticut — General Dynamics Electric Boat. Graney has been president of the submarine builder since October 2019. His company is serving as a major catalyst for growth in eastern Connecticut, where Electric Boat has assembly, design and main- tenance facilities in Groton and New London. Electric Boat — owned by publicly traded defense contractor General tine E. Keller, is a former justice of the state Supreme Court. Ritter is likely to be a key player in helping decide if lawmakers will approve spending above Gov. Ned Lamont's recently proposed two-year, $26.1 billion budget. Ritter recently made headlines when he suggested that the legislature, with a simple majority vote, can adjust the revenue cap, a fiscal guardrail adopted in 2017 that requires lawmakers to build a surplus into any approved budget. That could signal a desire by Democrats to boost spending for core programs. Ritter also recently proposed creating a new bureau for the deaf and hard of hearing community that would offer a more centralized resource of services. Looney (D-New Haven) is the Senate President Pro Tempore, who was first elected in 1992. He's been known to advocate for progressive policies, including an expanded earned income tax credit for the working poor, higher minimum wage, and paid family and medical leave. Looney also recently spoke out in favor of loosening the state's fiscal guardrails, so more investments can be made in higher education, early childhood education and social services. Other topics Looney and Ritter are likely to weigh in on this year are affordable housing, tax policy, energy and healthcare costs, and labor-related proposals. Dynamics — is taking advan- tage of a shift in federal defense strategy that calls for construction of three nuclear submarines — two Virginia class and one of the new Columbia class ballistic missile boats — each year for the foreseeable future. The larger plan is for 70% of the country's nuclear arsenal to be carried by submarines. That has set Electric Boat on what's being called a once-in-a-generation expansion. Building a nuclear submarine is a long and complex task that can stretch to four or more years per unit. So, gearing up to produce three a year means adding lots of infrastructure and manpower. Companywide, Electric Boat's employment has gone from 14,658 in 2016, to 21,335 in August 2023. Included in the figures are maintenance operations in other loca- tions, such as Rhode Island, Honolulu, San Diego and Bremerton, Washington. Last year, Electric Boat had a goal of 5,750 hires, a number that needs to be replicated for the next several years. In a presentation to the Connecticut Business & Industry Association in 2022, Graney estimated the peak hiring point to be in 2033, with about 21,000 employees just in Connecticut. Graney began his shipbuilding career with General Dynamics Electric Boat in 1995 as a senior engineer, working on the high- speed turbine generator set for the Virginia-class submarine. The New York native and former commissioned naval officer earned a bachelor's degree in marine engineering and nuclear science from State University of New York Maritime College. Graney is married, has a daughter and currently lives in Stonington. 14 Justin Elicker S hortly after New Haven Mayor Justin M. Elicker first took office in January 2020, he was tasked with leading one of the state's largest cities through the pandemic, while also maintaining focus on his goals and municipal progress. Nearly four years later, he was easily reelected to a third term in 2023, capturing nearly 80% of the vote. Elicker's focus areas have included inclusive economic growth, stabilizing city finances, public safety, education and affordable housing development. Elicker has helped encourage significant redevelopment projects, including the $90 million Winchester Green development that will give rise to a five-story building housing 283 mixed-income apartments in Science Park. A new phase of the mixed-use Square 10 redevelopment project on the former New Haven Coliseum site will bring a new 277,400-square-foot life sciences and tech office building to downtown. Other phases of the massive project, in various stages of development, call for several hundred new apartments, 16,000 square feet of retail space and 25,000 square feet of public open space. The city's burgeoning bioscience sector this year will see the opening

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