Issue link: https://nebusinessmedia.uberflip.com/i/1539615
2 HARTFORDBUSINESS.COM | SEPTEMBER 22, 2025 Biz Briefs Tel: (860) 236-9998 | Fax: (860) 570-2493 Copyright 2020. All rights reserved. Postmaster: Please send address changes to: Hartford Business Journal P.O Box 330 Congers, NY 10920-9894 Subscriptions Annual subscriptions are $150.00. To subscribe, visit HartfordBusiness.com, email circulation@ hartfordbusiness.com, or call (845) 267-3008. Advertising For advertising information, please call (860) 236-9998. Please address all correspondence to: Hartford Business Journal, 100 Allyn Street, Suite 3, Hartford, CT 06103 Stay Connected For breaking and daily Greater Hartford business news go to: www.HartfordBusiness.com HBJ on Twitter: @HartfordBiz HBJ on Facebook: www.facebook.com/HartfordBiz HBJ on Linkedln:www.linkedin.com/company/the-Hart- ford-Business-Journal Daily e-newsletters: HBJ Today, CT Morning Blend: www.hartfordbusiness.com/enewsletters Hartford Business Journal (ISSN 1083-5245) is published bi-weekly, 27x per year — including two special issues in November and December — by New England Business Media, LLC, 100 Allyn Street, Suite 3, Hartford, CT 06103. Periodicals postage paid at Hartford, CT and at additional entry points. Peter Stanton | CEO, pstanton@nebusinessmedia.com Tom Curtin | President, ext. 124, tcurtin@hartfordbusiness.com Editorial Greg Bordonaro | Editor, ext. 139 gbordonaro@hartfordbusiness.com Drew Larson | Web Editor, ext. 121 alarson@hartfordbusiness.com Beat: Energy Michael Puffer | Staff Writer, ext. 145 mpuffer@hartfordbusiness.com Beats: Real Estate, Economic Development, Banking & Finance David Krechevsky | Staff Writer, ext. 702 davidk@hartfordbusiness.com Beats: Health Care, Bioscience, State Government Harriet Jones | Staff Writer, ext. 145 hjones@hartfordbusiness.com Beats: Manufacturing, Cannabis, Professional Services Michael Juliano | Staff Writer mjuliano@hartfordbusiness.com Beat: Fairfield County Stephanie R. Meagher | Research Director Heide Martin | Research Assistant Steve Laschever | Photographer Business Tom Curtin | Publisher, ext. 124, tcurtin@hartfordbusiness.com Jessica M. Quinn | Associate Publisher, ext. 137 jquinn@hartfordbusiness.com Emily Paskind | Senior Accounts Manager, ext. 133, epaskind@hartfordbusiness.com Sadie Bride | Senior Accounts Manager, ext. 141, sbride@hartfordbusiness.com Destiny Cyr | Operations & Administrative Specialist, ext. 138 dcyr@hartfordbusiness.com Tracy Rodwill | Human Resources Manager trodwill@nebusinessmedia.com Production Bartosz Zinowko | Production Director, ext. 147 bzinowko@hartfordbusiness.com Events Kathryn Pelletier | Events Manager, ext. 136 kpelletier@hartfordbusiness.com on community health centers, and expiring federal subsidies. Insurers had initially requested even higher increases — as much as 17.8% for individual plans (later rising to 23% after adjusted for expiring subsidies) and 13.1% for small-group plans. Connecticut Attorney General William Tong called the approved hikes symptomatic of a "badly broken system," warning many families will struggle with higher premiums, deductibles, coinsurance and copays. Jenna Carlesso | CT Mirror UConn launches state tax credit program to support athletics fundraising The University of Connecticut has introduced a state tax credit program to encourage contributions to its athletics programs. Under the "UConn State Tax Credit Program," Connecticut taxpayers can receive a credit equal to 50% of qualifying payments made in support of UConn Athletics, up to $500,000 per taxpayer per year, with an overall program cap of $5 million annually. Eligible payments include: • Donations of $5,000 or more to the "Storrs Strong Fund" via UConn's Marketplace or a pledge agreement; • Licensing and endorsement agree- ments of at least $5,000; CT minimum wage set to rise Connecticut's minimum wage will rise to $16.94 per hour on Jan. 1, 2026, under an automatic adjustment tied to federal labor cost data, Gov. Ned Lamont announced. The 59-cent increase, up from the current $16.35, reflects a 3.6% rise in the federal employment cost index over the past year, according to the state Department of Labor. The change follows a 2019 state law that links annual wage increases to the U.S. Department of Labor's employ- ment cost index, rather than requiring separate legislation each year. Lamont was a supporter of the minimum wage increase legislation. Insurance department approves double-digit rate hikes for 2026 health plans The Connecticut Insurance Department has approved rate hikes averaging 16.8% for individual health plans and about 11% for small-group policies for 2026. About 224,000 state residents are covered by these plans, including 158,000 in individual policies and 66,000 in small groups. Regulators said the increases reflect "unprecedented uncertainty" amid federal policy changes, cuts to Medicaid, tighter restrictions GKN Aerospace expands in Newington with help of state grant GKN Aerospace will expand its Newington facility with a new produc- tion line for an engine component made through additive manufacturing, the company announced. The U.K.-based aerospace supplier will receive a $2.5 million state grant through Connecticut's Strategic Supply Chain Initiative to help fund the project. GKN said it chose Connecticut for the expansion because of its prox- imity to key customers, including Pratt & Whitney, where it supplies parts for the geared turbofan engine. The company invested $50 million in 2024 to boost additive fabrication capacity, and last year secured Federal Aviation Administration approval for its first critical structural component made using the technology. Sen. Chris Murphy (left) during a tour of GKN Aerospace's Newington plant. HBJ File Photo Gov. Ned Lamont and state Treasurer Erick Russell at a press conference. Photo | Keith Phaneuf/CT Mirror Lamont backs possible state investment in CT Sun as AG probes sale G ov. Ned Lamont said he supports a potential state investment in the Connecticut Sun as Attorney General William Tong seeks records from the WNBA about a possible sale of the team. Lamont said he favors using pension funds to purchase a minority stake in the Sun, calling it a good investment that could guarantee the team remains in Connecticut for at least a decade. He emphasized the proposal would not be a subsidy. Separately, Tong has requested documents from WNBA Commissioner Cathy Engelbert, including the league's oper- ating agreement and any valuations of the franchise. Tong said he's concerned the WNBA may be preventing bids that would keep the Sun in Connecticut, raising possible legal issues. The Mohegan Tribe has owned the Sun since 2003 and is exploring a sale. Mark Pazniokas | CT Mirror.