Hartford Business Journal

www.HartfordBusiness.com April 20, 2015 • Hartford Business Journal 17 empty, some observ- ers say it is better to view it as a glass half- full of opportunity. An older popula- tion has wisdom and institutional knowl- edge that can be passed on to younger generations, experts say. Also, citizens 50 and older are more likely to be at a stage in life financially and emotionally to give back to their commu - nities in some way, either as volunteers at the local library or food pantry, or by continuing to contrib- ute to the economy through part-time or more flexible work schedules that leave time for travel and leisure. Meantime, driving what is certain to be a huge wealth transfer from older to younger gen- erations in coming years are the state's aging business owners who are eager to sell so they can move onto the next phase of their lives. As a result, there's never been a greater opportunity for younger genera- tions to acquire and run a business. George Kuchel is a geriatrician and gerontologist who specializes in aging research at the UConn Center for Aging. Kuchel says the graying of Con - necticut cannot be understood without proper context. "Aging is not something that's unique to Connecticut, or to the U.S., or internationally,'' Kuchel said, noting that Japan is way ahead with a populace that is older than the global average. "In a sense,'' Kuchel said, "what we're experiencing is the fruition of our successes … of living longer.'' Connecticut, for instance, is home to about 1,000 people over the age of 100. It's a milestone that also carries some heavy bag- gage, Kuchel said, because citizens fortunate enough to reach that age also are in the great- est need of health care. Into that pot stir the fact that more Ameri- cans over the age of 50 are caring for an elder- ly parent, grandparent, or even a child with disabilities or health issues, which triggers the need for that caregiver to continue work- ing past retirement to sustain them and you start to close in on the big-picture issue that an aging population poses, experts say. Social impact Beyond the workplace, the influence of Connecticut's aging population is evident in state and local governments' responses to a number of challenges facing their 50-plus citi- zenry, experts say, in such areas as appropriate housing; availability and access to health and wellness; and transportation. Internist Jewel Mullen, who is Con- necticut's top public health promoter, and her fellow state health commissioners are pushing to elevate the conversation around healthy aging and associ- ated issues. Mullen, who is 2015 president of the Association of State and Territorial Health Offi- cials, declares it a "public-health issue.'' "If we think about health meaning the high- est physical and social being, then healthy aging is a public-health issue,'' Mullen said. But there are disparities among Con- necticut's counties and communities in the availability of support services and related amenities that benefit older citizens that must be addressed, Mullen said. "I believe we have the assets to do that in this state,'' she said, "beginning with the people who are thought leaders and have a vision for this to occur.'' Challenges ahead One sector grappling with the coming Continued Percentage of people age 65 and older as proportion of total population M A P S C R E A T E D B Y C O N N E C T I C U T ' S L E G I S L A T I V E C O M M I S S I O N O N A G I N G I N P A R T N E R S H I P W I T H T H E C O N N E C T I C U T S T A T E D A T A C E N T E R Less than 13% 13% – 14% 15% – 16% 17% – 19% 20% or more 2010 2025 Nora Duncan, Connecticut chapter president, American Association of Retired Persons (AARP) Jewel Mullen, commissioner, Connecticut Dept. of Public Health CANP15HBJ Energize Connecticut helps you save money and use clean energy. It is an initiative of the Energy Efficiency Fund, the Clean Energy Finance and Investment Authority, the State, and your local electric and gas utilities with funding from a charge on customer energy bills. Find energy solutions for your business. Visit EnergizeCT.com Or Call 877-WISE-USE PEP Lacey works hand-in-hand with some of the world's leading medical, aerospace, military and commercial manufacturing companies, providing highly specialized custom design and manufacturing. Deliver- ing critical industry-specific components requires an intelligent business philosophy – and a smart energy efficiency strategy. That's why PEP Lacey turned to Energize Connecticut's PRIME and Energy Conscious Blueprint Programs. Program engineers identified a series of lean process improvements that vastly improved ordering, shipping and production line operations. Six new high-efficiency injection molding machines dramatically streamlined production. Additional energy-saving measures included upgrades to manufacturing and lighting systems. The cumulative effect of PEP Lacey's upgrades translates to an estimated $72,000 savings per year. PEP Lacey received a generous incentive from the Energy Efficiency Fund to help with the cost of improvements. Project: PEP Lacey Measures: Lean process improvements to shipping, customer order certification, customer RFQ processing, product assembly flow, and production line molding operations; new servo drive injection molding systems to replace existing hydraulic systems; additional new high- efficiency molding machines; lighting system upgrades. Fund Incentive: $63,980 Energy Savings: 400,081 kWh electricity/year Cost Savings: $72,000 annually "By taking advantage of Energize CT's programs, we're much more efficient, have far greater productivity – and we're better able to serve our customers." Ken Lisk, PEP Lacey

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