Hartford Business Journal

June 15, 2015

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G R E AT E R H A R T F O R D ' S B U S I N E S S N E W S w w w. H a r t f o rd B u s i n e s s . c o m For more B2B news visit JUNE 15, 2015 Volume 23, Number 29 $3.00 Subscribe online 2 0 1 5 P U B L I S H I N G J U LY 2 0 Visit HartfordBusiness.com for more information L o o k f o r t h i s s p e c i a l i s s u e Awards event, Sept. 30 Economists: CT's budget could dampen growth By Gregory Seay gseay@HartfordBusiness.com W ith job gains and ris- ing home sales leading Connecticut's econ- omy to a first-half surge from the ill effects of a record cold, snowy winter, lawmakers' hefty business and income-tax hikes threaten to short-circuit those and other gains in the long term, economists warn. First the good news: The state's seasonally adjusted 1,200 jobs gained in April pushed the Some economists and many business operators fear state budgetsetters' new $40 billion budget will hamper Connecticut's economy. Index ■ Executive Profile: PG. 5 ■ Week in Review: PG. 6 ■ Focus: PG. 8 ■ The List: PG. 10 ■ Deal Watch: PG. 12 ■ Opinion & Commentary: PG. 20 FOCUS: TECHNOLOGY Wearable Technology A Hartford startup has developed a wearable device that aims to improve personal safety. Find out why angel investors have already poured nearly $1 million in Wearsafe Labs. PG. 8 Decision 2015 This week Hartford Business Journal sits down with Hartford mayoral candidate Joel Cruz, Jr., a city councilman and Working Families Party member who wants to reconnect the city's neighborhoods and promote small businesses. PG. 3 Keno Act II State lawmakers have once again legalized keno. Find out what the prospects are for the bingo-like game to actually get off the ground. PG. 16 CT benefit corp. law gains early traction; Hartford seen as hub By Brad Kane bkane@HartfordBusiness.com S ince Connecticut created a new law last year allowing for social benefit corporations, adoption of the novel legal status has jumped out to a fast start and the Hartford entrepreneur- ial community is moving quickly to become a hub for businesses interested in promoting social good. Connecticut last year joined the now 30 states that have adopted a social benefit corporation law, which grants reporting advantages and legal protections to investors and boards of directors who consider a busi- ness's community impact, rather than just maximizing shareholder value. Since Connecticut's law was enacted in October, 42 companies have registered as benefit corporations, including 17 on the first day, according to the Connecticut Secretary of the State. By comparison, Maryland — the first state to adopt a benefit Continued on page 16 Continued on page 14 P H O T O | P A B L O R O B L E S P H O T O | S T E V E L A S C H E V E R The coworking space at reSET's new Parkville offices is available to anyone for a fee, but members can get unlimited access for $30 per month or a permanent desk for $50 per month. Social Entrepreneurship H A R T F O R D MAYORAL RACE 2015

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