Hartford Business Journal

www.HartfordBusiness.com March23,2015•Hartford Business Journal 5 PDS has been meeting the needs of the construction industry since 1965. Our dedicated team of design and construction professionals welcomes the challenge of serving its past and future customers on their most demanding projects. Westwood Products, Inc. | Winsted, CT PDS Engineering & Construction served as General Contractor for the expansion of this industrial wood shipping product manufacturing facility. Work involved an addition onto the existing building which was a slab on grade pre-engineered steel structure. Project Features: - Five electric overhead doors - Four gas-fired unit heaters - Liner panels - Galvalume sheet metal roof - Mechanical, electrical and plumbing Project Size: 20,000 SF 107 Old Windsor Road, Bloomfield, CT 06002 (860) 242-8586 | Fax (860) 242-8587 www.pdsec.com PDS EnginEEring & COnsTRuCTiOn, inC. Design BuilDeRs • geneRal COnTRaCTORs • COnsTRuCTiOn ManageRs SPotlight on: MAnUFACtURing RepoRteR's Notebook CT adds more craft brewers Connecticut's burgeoning craft brewery industry is growing larger with two more taprooms getting ready to open shop. In Groton, Outer Light Brewing Co. (OLBC) said it plans to open a 4,500-square- foot brewery and taproom and eventually sell its beers in Greater Hartford, said com- pany co-owner Tom Drejer. OLBC plans to distribute its craft brews to bars, restaurants and liquor stores in kegs initially, with 12-ounce bottles to come this summer. "We are furiously working toward the finish line right now, and pending approval of permits we hope to be open by the end of March," Drejer said. Meantime, Peter and Tara Cowles are opening Aspetuck Brew Lab in Bridgeport. Their Fairfield Avenue location will also feature a brewery and taproom. After years of trailing behind nearby states and the rest of the nation, Connecticut's craft beer industry has taken off in recent years. Consumer demands for new and better beer and a recently passed state law allow- ing breweries to open onsite taprooms have spurred a surge of craft brewery startups in Connecticut. OLBC will feature a taproom open to the public several days during the week and on the weekend where people can sample beers, order pints and fill growlers. In addition to their experimental releases, OLBC will produce three year-round brews: Lonesome Boatman, a red ale; SUBduction, an IPA; and Libation Propaganda, a coffee stout. Drejer said the beermaker will focus on New London County, but will also have lim- ited quantities sold around Greater Hartford. "Our bottling line will be up and running later this summer, after which we will likely be in Greater Hartford liquor stores in lim- ited quantities as well," he said. Tyler Cox, a commercial-brewer from North Carolina, was recently named OLBC's head brewer. – Greg Bordonaro Outer Light Brewing Co. co-owner Tom Drejer (right) and head brewer Tyler Cox (left) stand in front of a delivery of new kegs. CT workers see higher pay, more hours While Connecticut's jobless rate remained unchanged in January, employee wages and hours continue to rise, an indication that workers are earning more consistent pay raises after seeing their wages stagnate fol- lowing the Great Recession. The state's private sector workweek averaged 33.7 hours in January, up by half an hour (1.5 percent) from the year-ago esti- mate of 33.2 hours, according to data from the state Department of Labor. Meanwhile, average hourly earnings stood at $28.26, up 42 cents, or 1.5 percent, from Jan. 2014. The resulting average private sector weekly pay stood at $952.36 at the end of January, up $28.07, or 3 percent, from a year earlier. Higher wages and hours are a good sign for Connecticut's economy because it increases consumer purchasing power, which is a key driver of economic growth. In the aftermath of the Great Reces- sion, many workers saw their pay stag- nate, or even decline, as employers reined in costs. As Connecticut's economy slowly adds more jobs, however, employers face increased competition for talent, which helps drive up salaries and wages. Connecticut added 6,400 jobs in January and 24,600 jobs over the past year, accord- ing to DOL. The state has now regained 90,500 positions, or 76.1 percent of the 119,000 jobs lost in the Great Recession. — Greg Bordonaro Berkshire Bank's icy pitchmen Since its arrival into Connecticut's bank- ing market in 2012, Massachusetts' Berkshire Bank has had UConn women's basketball coach Geno Auriemma as its most highly visible pitchman in the Nutmeg State. Now, the bank's Pittsfield, Mass., parent Berkshire Hills Bancorp Inc. has added a pair of recognizable names and faces — to pro hockey fans at least — to its roster of pitchmen: Boston Bruins legend Ray Bourque and Bruins left wing Milan Lucic. Both will join Auriemma in promoting Berkshire's financial services and products with the tagline, "America's most exciting bank,'' as it expands regionally across New England and New York, Berkshire President and CEO Michael P. Daly said in a statement last week, announcing the partnership. "Both are known for their extraordinary talent, dedication to the community and leadership on and off the ice," Daly said. Bourque played 21 seasons with the Bruins and was the team's longest-serving captain. Lucic helped the team win the 2011 Stanley Cup. – Gregory Seay P H O T O | C O n T r i b u T e d These Bonds may not be sold, nor may offers to buy be accepted, prior to the time an Official Statement is 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 be any sale of the Bonds in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The Bonds will only be sold by means of an Official Statement. University of Connecticut $300,000,000* General Obligation Bonds, 2015 Series A General Obligation Bonds, 2015 Refunding Series A The Honorable Denise L. Nappier, the Treasurer of the State of Connecticut, on behalf of the University of Connecticut, announces the sale of the University's General Obligation Bonds. The Bonds are being issued pursuant to the UConn 2000 Act to finance the UConn 2000 Infrastructure Improvement Program, a $4.6 billion, 29-year program to renew, rebuild and enhance the University's campuses. The University is a public instrumentality and agency of the State of Connecticut. Blaylock Beal Van, LLC 212-715-6600 Goldman, Sachs & Co. 917-343-7900 BofA Merrill Lynch 888-768-6999 Citigroup 855-644-7252 CastleOak Securities, L.P. 800-955-6332 RBC Capital Markets 860-241-8600 KeyBanc Capital Markets 800-233-2460 Roosevelt & Cross, Incorporated 800-726-0971 Morgan Stanley 877-937-6739 Ramirez & Co., Inc. 855-289-2663 Jefferies 800-567-8567 Piper Jaffray & Co. 800-452-9911 Wells Fargo Bank N.A. 866-287-3221 Retail Order Period:* Friday, March 27 & Monday, March 30, 2015 Institutional Pricing:* Tuesday, March 31, 2015 Delivery Date:* Thursday, April 16, 2015 Expected Maturities:* 2016-2035 Siebert Brandford Shank & Co, L.L.C. 800-334-6800 Sterne, Agee & Leach, Inc. 888-783-7631 U.S. Bancorp Investments, Inc. 800-888-4700 William Blair & Company 800-269-9889 Interest is exempt from federal income tax and, for Connecticut residents, also State tax-exempt.** Expected Ratings Aa3/AA/AA - by Moody's, S&P and Fitch, respectively.* For further information, including copies of the Preliminary Official Statement for the Bonds, please contact the firms listed below or visit: www.buyCTbonds.com or call 877-55-CT-BONDS 888-299-7553 *Preliminary, subject to change. ** Before purchasing Bonds, you should consult your tax advisor concerning your particular tax situation. INVESTMENT PRODUCTS: NOT FDIC INSURED. NO BANK GUARANTEE. MAY LOSE VALUE Hartford Business Journal.indd 1 3/17/15 6:01 PM

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