Issue link: https://nebusinessmedia.uberflip.com/i/1534495
HARTFORDBUSINESS.COM | APRIL 21, 2025 3 BIZ BRIE FS An Award-Winning Community Bank Contact us today. Voted Best Local Bank, Best Mortgage Lender, Best Financial Planning, Best Place to Work and Top Corporate Charitable Contributor, PeoplesBank understands its customers and the communities it serves. Our commercial banking team serves as a growth engine for businesses, providing expert banking advice, local decision-making, and innovative products and services. Brendan Theroux First Vice President Commercial Banking Daniel Bishop First Vice President Commercial Banking Jennifer Yergeau Vice President Cash Management Mark St. Pierre Vice President Business Banking Learn More bankatpeoples.com/businessteam Member FDIC CT's public pension plans generated over 10% in returns last year The Connecticut Retirement Plans and Trust Funds (CRPTF) generated returns of 10.3% in 2024, according to state Treasurer Erick Russell. The CRPTF consists of six state pension funds, covering more than 200,000 state and municipal employees and their beneficiaries, as well as 12 state trust funds for various initiatives. The CRPTF recorded a 12.8% return in 2023. Overall, the markets performed well in 2024, with the Nasdaq Composite growing by about 29%, S&P 500 growing more than 23% and Dow Jones Industrial Average gaining 13%. Russell said his office has made changes in recent years that contributed to the CRPTF's perfor- mance, including reallocating plan assets, mitigating risk, lowering fees, and recruiting and retaining investment talent. East Hartford eases regulations on recreation businesses, including ax- throwing, pickleball facilities It's now much easier to open ax-throwing lanes, batting cages, miniature golf and a whole range of recreation-based businesses in East Hartford. The town's Planning and Zoning Commission has approved zoning changes that lower barriers to recreation-based businesses. Previously, commercial recre- ational activities — like yoga studios, boxing gyms and ax-throwing — that use under 5,000 square feet of space required a special permit from the town Planning and Zoning Commis- sion. The regulations also excluded recreational businesses — like bowling alleys, golf driving ranges and large fitness centers — occu- pying more than 5,000 square feet from industrial zones. The changes allow commercial recreation activities using under 5,000 square feet in any business zone as a right. Additionally, recreation businesses occupying larger spaces will now be allowed by right in any industrial zone, as well as in the "B6" zone, which includes the central area of the busy Silver Lane commercial corridor. Recreational businesses using more than 5,000 square feet are allowed in other business zones, but still require a special permit. UK company acquires East Hartford waste-recycling business An international recycling company, Reconomy, has acquired East Hart- ford-based American Outsourced Waste and Recycling. Reconomy, which is headquartered in the United Kingdom, acquired the local waste management busi- ness through a subsidiary, Lincoln Waste Solutions. The sale marks Reconomy's fifth acquisition in the U.S., and its third so far this year. Terms of the deal weren't disclosed. American Outsourced has a national network of more than 8,000 vendors and customers in the U.S. and Canada. It provides waste management for businesses in the retail, entertainment, logistics and restaurant industries. Reconomy, which operates in more than 150 countries and has more than 4,000 employees, acquired Windsor-based Lincoln Waste Solu- tions in August 2024. HBJ PHOTO | DAVID KRECHEVSKY State Treasurer Erick Russell in his office.