Hartford Business Journal

4 HARTFORDBUSINESS.COM | MAY 27, 2024 BIZ BRIEFS NEW ISSUE $450,000,000* State of Connecticut $200,000,000* General Obligation Bonds (2024 Series D) $250,000,000* Taxable General Obligation Bonds (2024 Series A) Expected Tax Status** Interest on the 2024 Series D Bonds is excluded from gross income for federal in- come tax purposes and is excluded from Connecticut taxable income. Interest on the Taxable 2024 Series A Bonds is included in gross income for federal income tax purposes and is excluded from Connecticut taxable income. *Preliminary, subject to change **Before purchasing any Bonds, contact your tax advisor to determine any applicable federal, state and local tax consequences. These Bonds may not be sold, nor may offers to buy be accepted, prior to the Official Statement delivered in final form. Under no circumstances shall this announcement constitute an offer to sell or a solicitation of an offer to buy, nor shall there by any sale of the Bonds in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities law in any such jurisdiction. Bonds are subject to availability. The Bonds will only be sold by means of an Official Statement. Retail Order Period* Monday, June 3, 2024 Institutional Pricing* Tuesday, June 4, 2024 Bond Delivery* Tuesday, June 18, 2024 Honorable Erick Russell Treasurer of the State of Connecticut For more information on these Bonds, including the Preliminary Official Statement, please visit www.BuyCTBonds.com or contact any of the firms below CT unveils 'oyster trail' map charting oyster farms, restaurants in effort to boost tourism Gov. Ned Lamont announced the debut of Connecticut's first "oyster trail." The Connecticut Oyster Trail includes a map, which charts more than 12 oyster farms and 20 restau- rants and seafood markets. Calling the Nutmeg State "the Napa Valley of oysters," Lamont said the initiative honors aquacul- ture farmers who have inspired a new generation of chefs to "think about this fruit of the sea as king of the kitchen." Lamont is also asking restaurants to buy local products and feature Connecticut oysters on their menus. CT Hospital Assoc. sues Prospect Medical for unpaid dues, service fees The Connecticut Hospital Asso- ciation is suing Prospect Medical Holdings and the three hospitals it owns in the state claiming they have failed to pay more than $1.75 million in membership dues and special services fees. The lawsuit, filed in Hartford Superior Court, names as defen- dants Prospect Medical Holdings Inc., Prospect Manchester Hospital (Manchester Memorial Hospital), Prospect Rockville Hospital (Rock- ville General Hospital in Vernon), Prospect Waterbury Inc. (Waterbury Hospital), and Prospect Chartercare SJHSRI LLC (St. Joseph Health Service based in Providence, Rhode Island). CHA is a nonprofit organiza- tion founded in 1919 and has 90 member organizations, for which it advocates on public policy issues and provides research and educational services. The civil suit accuses Pros- pect of two counts of breach of contract, four counts of violating the Connecticut Unfair Trade Practices Act, and one count of unjust enrichment. The legal spat comes several weeks after Yale New Haven Health filed a lawsuit against Pros- pect, trying to void its proposed acquisition of the California-based for-profit hospital operator. Yale accused Prospect of breach of contract for owing tens of millions of dollars in debt to various sources, including the state, doctors and other vendors. Report: Healthcare costs in CT rose 4.8% annually over two decades Healthcare costs in Connecticut rose at an average rate of 4.8% annually per person from 2000 to 2020, according to a new report from the Office of Health Strategy (OHS), the state's health- care regulator, which called the increases a "profound burden on families and businesses." OHS recently released its Cost Growth Benchmark report, citing data that shows per-person health- care spending in the state has rapidly increased since 2000. The report says the average family premium for employer-spon- sored coverage nearly tripled during that time period — rising from $8,781 in 2001, to $24,746 in 2022 — while inflation grew 61% and median household income grew 70%. Faster-rising medical costs have resulted in families spending a larger portion of their income on healthcare coverage, OHS said. In addition to premiums, the employee contribution for family healthcare coverage has increased from $2,112, or 4% of median household income in 2001, to $6,299, or 6.9% of median house- hold income in 2020. Family deduct- ibles have increased more than 350% since 2002, OHS said. Barker Specialty acquires CT company A Cheshire-based distributor of promotional products, Barker Specialty Co., has acquired a similar business headquartered in Monroe, the company announced. Barker Specialty said the acquisition will give Wolfepromo clients access to additional resources, including on-premises warehousing, artwork services, on-site production, in-house kitting and global sourcing. Financial terms of the deal were not released. Barker Specialty, a family-owned business, was established in 1951. Recently, Barker Specialty President Gerry Barker told ASI Media that the company's 2024 sales, including revenue from Wolfepromo, will be about $30 million. David Wolfe, managing partner of Wolfepromo, will join Barker Specialty during a six-month transitionary period, ASI Media reported. Hangar expansion project at Waterbury-Oxford nears completion A new hangar complex at Water- bury-Oxford Airport is set to open this summer, and the operator said more hangar space is available for jets. Clay Lacy Aviation, a private jet company that runs several hangars and aircraft maintenance facilities across the country, said its newest fixed-based operation (FBO) and hangar complex will begin serving customers out of Waterbury-Oxford Airport in just a few months after construction is completed. When finished, the complex will include 120,000 square feet of new space across three hangars equipped with 29-foot doors and floor space to accommodate larger wingspan aircraft. The facilities will be carbon-neutral and include solar panels and electric vehicle and aircraft charging stations, in addition to other fuel options. A map outlining the Connecticut Oyster Trail. IMAGE | CONTRIBUTED Gerry Barker, president of Cheshire-based promotional products firm Barker Specialty. HBJ FILE PHOTO Clay Lacy Aviation's hangar expansion at Waterbury-Oxford Airport is expected to be completed this summer. PHOTO | CONTRIBUTED

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