Issue link: https://nebusinessmedia.uberflip.com/i/619113
BOOK OF LISTS 2015-2016 Banking & Finance www.HartfordBusiness.com decemBer 28, 2015 • Hartford Business Journal 21 273 Hebron Avenue, Glastonbury Business loans from a bank that lends more than just money. Company expanding? Need working capital or guidance as you grow? Stop by our Lending Center to discuss how our innovative products and services can support your changing needs. 860-934-1300 chelseagroton.com State policies threaten CT's economic parade By George W. Hermann, President and CEO, Windsor Federal Savings & Loan, and president of the Connecticut Community Bankers Association (CCBA) A s president of the Connecticut Com- munity Bankers Association, I'm often asked about my prognosis for our economy. My personal forecast: partly to mostly sunny — with a chance of rain. I've personally seen a slow and steady level of recovery, although certainly not as robust as in the past. Locally, we've seen large-scale project build outs like the mammoth Amazon distribution cen- ter in Windsor — over 1 million square feet — that have, or will, add up to 500 incremental jobs. We've also seen an increased number of commercial properties changing hands, a marked pick up of business in the manu- facturing space, and a substantial increase in our commercial-lending portfolio. Nationally, there are regulatory changes pending that should positively impact com- munity banks. These revisions, although not a certainty, will allow bankers to be more responsive and efficient and better focus on meeting the vary - ing needs of their communities. One caveat is appro- priate: As our state legislators work to close our budget gap, it is critically important that they not enact legislation that will adversely affect the business community. We simply cannot afford to have businesses leave our state due to regulatory or taxation overreach. Our economy is highly dependent upon the complementary goods and services that are provided to our busi- ness communities, so losses of any kind will have a ripple effect with long-lasting consequences. n George W. Hermann Economic momentum building By Mark Vitner, Managing director and senior economist, Wells Fargo Securities T he U.S. economy is poised to enter 2016 with solid momentum. Real gross domestic product growth this past year slightly topped the average for the previous five and a half years of this recovery, but with a great divide. Overall economic growth managed to slightly edge out growth during the prior year, despite the plunge in oil prices early in the year and the resulting pullback in energy exploration and related investment. Other parts of the economy that are closely tied to the global economy also faced disappointment in 2015, as weakening for- eign demand and a stronger dollar battered exports and large multinational firms. Mining and agriculture also were adversely impacted, as lower prices cut into output and earnings. Areas less closely tied to the global economy, such as retail trade, the leisure and hospitality sector and health care, fared considerably better. We expect the economic tale of two economies to remain in place during 2016. For those parts of the outlook tied primar- ily to the domestic economy, 2016 is likely to see better times. For those areas closely tied to the global economy, the economic environ- ment will be more challenging. F o r t u n a t e l y, most of the U.S. economy is tied to domestic eco- nomic conditions and fiscal policy will also likely be more supportive of growth now that Congress has enacted a budget that allows for modest gains in defense and non-defense discretionary spending. Connecticut's economy largely mirrors the nation. Employment growth has largely struggled to regain the pace seen in prior recoveries but the unemployment rate has still managed to fall to historically low lev- els, thanks to declines in the labor force. Job growth is strongest at the extremes, with low-skilled, relatively low-paying positions and high-skilled, relatively high- paying positions growing the fastest. n Mark Vitner Officially Produced by: Now available are official PDF REPRINTS of your Article for your MARKETING usage All copyright fees included Share the excitement of being published! 20 Hartford Business Journal • March 23, 2015 www.HartfordBusiness.com Best Places To Work In CT 2015 By Kathryn M. Roy Special to the Hartford Business Journal H ard work is rewarded at law firm Hinckley Allen. And for its 60 Hartford- based employees, the firm's focus on professional development provides a boost not only to staff, but clients as well. "We put a lot of time and effort into the development and training of our people," said Thomas S. Marrion, a partner at the law firm. "Within the last few years, we hired a director of professional development who was a partner at another law firm in Boston. He is devoted entire- ly to the professional development of our people here. It was a major commitment on our part to hire a full-time person in a firm of our size." Marrion said the role reflects the firm's dedication to having all staff properly trained so they can do the best work for their clients. The Hartford office, which has been open since 2008, is also known for its positive, team-based culture. "Everyone in every position at the firm is part of a team that is devoted to providing the best possible service to our clients," Marrion said. Rewarding good work is a priority at Hinckley Allen, which operates six offices and employs more than 300 people compa- nywide. The firm looks for opportunities for people to take on greater responsibilities, and they get greater rewards, Marrion said. "We always try to promote from within," Marrion said. "It doesn't matter what your job is here; if you work hard and work well with others and you're productive, you will be rec- ognized for that and you will succeed here." Megan McCormack, director of human resources, said being recognized as a good place to work helps lift office morale. "It helps support the goals that we have in human resources to create a good culture and good environment for people to work in," McCormack said. "It really is about creating a positive culture and one where people are sup- ported. They're rewarded for hard and qual- ity work. They support each other, they have respect for each other and they feel valued." As part of relationship development and team building, the firm organizes monthly wind downs or employee lunches, where staff can enjoy lunch and socialize with each other. The company hosts holiday parties and regular outside-of-work recreational outings. "People continue to develop strong personal relationships," McCormack said. "People are really proud of what they can accomplish. They prefer to work in teams; they're stronger collectively. It's just enjoy- able to work with people that you genuinely like and respect." A formal committee of staff members orga- nizes community service projects. Employees volunteer at a local soup kitchen, at Camp Courant to benefit underprivileged children, and at Connecticut Public Television. "No question, it makes my job easier because all of those positive feelings people have about their work is just an extension of what we try to do," McCormack said. "There are not nearly as many negative issues that you have to deal with." Legal secretary Jean McCarthy, who serves on the committee charged with orga- nizing outside community service events, said the events help with bonding. "It makes it like it's not just a workplace – you're more invested," McCarthy said. The firm also supports a work-life balance. "They're pretty family-oriented, and I think that's kind of different from other large firms," McCarthy said. "Just recently, I had to leave work to pick up my sick grand- daughter, and they really are very support- ive of that type of occurrence. They know things happen." There's nothing better than working with people who have a positive attitude, McCar- thy added. "I come to work and I like spending time with the people here," she said. ◆ ▶ " I had to leave work to pick up my sick granddaughter, and they really are very supportive of that type of occurrence. " – Jean McCarthy, legal secretary Hinckley Allen prioritizes teamwork Hinckley Allen employees (above) volunteer together at Camp Courant, celebrate special occasions together (below), and let loose at office socials (left). Large Company Category S A M P L E R e p r i n t & P l a q u e Connecticut Green Guide, Hartford Business Journal and HartfordBusiness.com content is copyrighted. Visit HartfordBusiness.com/reprints for more info on article usage and obtaining copyright permissions. ALL PDF LIST REPRINTS COME WITH ADDITIONAL Commemorative Plaque OPTION Plaques are Walnut Brown woodgrain finish with reprint mounted under beveled plexi-glass. Trimmed with metal corner nails. It's the perfect addition to your office or lobby — Ask for details and pricing. For article reprint info & pricing, contact: Jessica Baker jbaker@HartfordBusiness.com or 860.236.9998 ext. 122 or visit HartfordBusiness.com/ reprints